Most businesses have great ideas and solutions they offer. As a matter of fact, new and existing businesses are reputed to develop even greater ideas while in operation, leading to what many call the Shiny Object Syndrome. With these great businesses, it is only logical to expect great solutions to the teeming world challenges. Nevertheless, there is a huge gap between individuals with the idea-power and those with the financial strengths necessary to drive in the capital that would translate these ideas into real solutions. It is why investors exist and why you have a responsibility of presenting your business idea in a manner that would appeal to investors for the support you need.
You must understand that your business pitch is a great step in the life of your business. You must give it all the preparations and seriousness it needs to drive home the urgency of your demand. For some entrepreneurs, the pitch is some kind of an interview, structured to produce the life of the business. Approach it with absolute importance.
DETERMINE YOUR ADDRESSEES (DYA)
The DYA system enables you to determine the type of investors you are pitching to. Different investors respond to different business solutions and at different levels. You don’t want to spend a considerable length of time speaking to people who are outright not interested. While some investors may not even agree to meet at all, others who show up may do so just to adopt your idea and suit it to meet their style, fund it in a way you may never be able to compete against and leave you struggling with fund and capital raising. Determine who you are addressing and structure your pitch to meet their demands. You may well know if you need just an angel investor or a registered network of investors.
CHOOSE A PREFERRED STYLE
The objective in a pitch is to appear as one who has all facts, ideas and the minute nitty-gritties pertaining to the business you’re professing. Be that person. In that respect, you may want to adopt a story-style narration, or a crisis resolution approach. Whatever the case is, make sure your thoughts are well organized and your ideas flow sequentially. Don’t forget to smile when necessary, but stay on top of the issues.
BE BOLD, ASSERTIVE, SIMPLE, INCISIVE AND CONTENT-DRIVEN (BE BASIC)
At KCC, we say be BASIC. Put up a courageous outlook and do not be intimidated by a hostile bunch of investors. Being BASIC means you are resourcefully utilizing your self-worth while projecting a tough impression of someone determined to make business bloom. This would come in handy when you must prove why an investor would benefit from indulging your business or identifying with your organization.
EMPHASIZE A SALES DRIVE
At every point, you must show a zeal for reaching a large pool of customers in order to drive in increased sales. This is to show your would-be investors that they are about to venture into an avenue with direct sales inlet and outlet. It gives an assurance that you are in the capacity to make profits and subsequently pay back the loaned or invested amounts. In this regard, use all resources at your disposal to market yourself and your business as profit-oriented. This provides a guarantee that you are capacitated to work out full expectations and churn out appropriate results.
Understand your business needs and what drives it. The passion so identified would translate into what content you present to your potential investors and that is the marking point for any success your pitch would chalk.
Talk to us at KCC today, we are willing to guide you through this phase. Click here.