If you’re a business owner that’s just starting out, it helps to be aware of all possible ways to get funding.
Your main goal would be to target angel investors and venture capitalists, and pitch your business idea so that they may invest in your start-up.
It may seem intricate in the beginning. However, with a William Schantz’s suggested ways of pitching the business idea, you can turn the potential customer into a loyal investor.
Pitching your business idea to investors can be one of the most challenging experiences for any entrepreneur. In this course you’ll learn how to use your elevator pitch to get potential investors excited about your product or service.
You’ll also learn how to take advantage of networking opportunities and use them to further grow your business.
You can devise a business plan that covers several years of financial history to determine if it is worth investing for them but there’s only a 10-minute window to sufficiently cover all details.
This blog is for you if you succeed in landing such a meeting, to know exactly how to go about successfully pitching your plan.
Create a Presentation
The first step to creating an impression with potential investors is to create a proper pitch deck.
It is a presentation that covers important elements of the business, such as the overview, types of products and services it provides, financial forecast and level of funding required.
A pitch deck is the most important aspect of your business plan. It contains the basics of the business idea, including a mission statement and executive summary, as well as all of the necessary charts and graphs to give investors a good understanding of why this business will work.
This has the potential to excite your potential investors if the presentation is done well and give them a taste of why your business is a cut above the rest.
It might be worthwhile to work on your public speaking skills first and develop the confidence to sell yourself and your business like a marketing professional.
You need to practice your pitch well enough to be able to effectively highlight all aspects of your business so nothing is left uncovered.
In fact, William Schantz completely understands the significance of this tactic and has helped numerous clients with his thought-provoking ideas to make businesses successful.
This is perhaps the most crucial element because if you can’t speak or stutter and forget certain points, you’ll be unlikely to receive any funding.
Practice with a friend or business partner, get them to cross-question you and give feedback so that you’re sufficiently prepared when the big day comes.
Be sure to only include the most important parts of what you want to cover, otherwise, you might find yourself rambling on for twenty minutes and convey a non-serious attitude which might deter them from developing an interest.
Use Storytelling as a Tactic
Speaking only using facts and figures probably isn’t very interesting and you need to remember to make your pitch as engaging and interesting as possible.
Speak about what customer needs you are trying to meet, which problem you’re addressing in the marketplace and what returns on investment you aim to provide.
Storytelling is a great way to get your business pitch out there in the most memorable way possible. It may seem like an unlikely tactic for business but the truth is, we are all storytellers.
Whether it’s by delivering an intricate presentation to investors or simply striking up a conversation with someone on the street, you have to have your story straight, and ready to be put out there.
Cutting your way through the noise not only takes practice but it takes a little creativity as well – this is where storytelling can come in handy.
Try to stay original and spend enough time to make your narrative compelling because as investors, they’ve probably sat for hundreds of pitches throughout their career.
Set yourself apart from the rest because if they don’t like you, they’re not going to be tempted to invest in your business.
Speak About Your Target Market
Explain explicitly which product or service is aimed at which audience.It’s unrealistic to say that your target audience is everyone, even if that may be the eventual plan.
Develop your niche, do your market research and explain how and why your product or service will fill the needs of the customer.
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Final Words: Spend the time to do your due diligence and you’ll find that investors are interested and willing to invest in your business. For more information, check out William Schantz’s website.