July 20, 2017
When you need the support of investors to shape your business plan, the only tool which can help you is a perfect, immaculate and captivating sales pitch. Any flaws in your sales pitch can turn down the investors, and make your business idea plunge into complete darkness.
Though the investor's perspective is entirely different. They don’t just look for promising sales pitches, but, also evaluate the person while he/she is pitching to comprehend whether they have the capability to turn this business idea into something really big, or not. They want to ensure that you will be able to optimally use the resources. Out of all the sales pitches which investors hear, only 3% – 5% are considered for investment.
So, the question arises that how can you deliver a promising, ultra-compelling, mind blowing sales pitch which cannot be turned down by the panel of investors.
Here are some golden rules:
It's not just about presenting your business plans and how you would utilize the investment, but, it's all about presenting a plan devoid of any concerns or doubts. You have to be prepared for every question that your investors ask and answer each of those questions as geniuses. You need to give perfect, genuine and rock solid answers.
Do your homework well, prepare and practice your pitch hundreds of times, ask your friends and family members to raise genuine concerns about the business from the perspective of an investor. Jot down all those questions and prepare answers for them.
After all, every business idea aims at manufacturing a product or delivering a service which can solve some sort of problem. So, why not compile a story which can highlight the problem and exhibit how your product/service can solve it. An engaging story will keep the investors engrossed and will make them listen to the pitch to find out how you aim to resolve the highlighted problem. This way, no investor will ask you to stop pitching in the middle.
Most of the times, the success of a business idea depends on how it is presented and its important you master this art before going in from of your investors. A compelling story can easily win over the investors.
Expecting a lot of patience from people to whom you are pitching a new business idea is a difficult thing, and that’s why you need to play really smart with your words.
Take ample of time to write down your pitch, so that, it's short, concise, impressive and compelling, and does not take more than 10 – 12 minutes. Try to wrap it in 10 minutes, and keep the rest of the time for the question/answer session.
If you think that delivering a business pitch means developing some interactive and visually attractive PowerPoint slides, then, you haven’t understood it right. If possible, take your product or a part or prototype of it when going for presentation so that the investors can better
To win your investors, you need to deploy an innovative way to present your pitch and business idea. Interactive and appealing presentations also help in keeping the investors engrossed.
While it's quite obvious that you would be honest with the investors about the product, but, at the same time be honest about the market conditions and other facts as well. It's important to present the true picture and how ypu plan to strengthen your brand.
Always remember that investors don’t just evaluate your business but, they also check the attitude of the person presenting the business plan to figure out that what kind of person you are and how would it be like to work with you. Honesty can really help you to attract the interest of your prospective investors.
While you don’t need to talk in detail about the marketing plan and strategies which you are planning to use, but, it's important to make your investors aware that which marketing channels you will use and why you want to use them.
You can add some facts and figures to these marketing plans to exhibit that you have done your homework well, and as soon as you get the investors on board, you are ready to take your business to an another level. Marketing is one of the most vital parts of any business plan as achieving success with a solid marketing strategy is nearly impossible. So, do include this aspect in your pitch as well.
A great pitch can pave the way for some valuable partnerships and financial incentives that can give an impeccable start to your business.
July 20, 2017
July 20, 2017
Stories by Priyal Parikh