Sometimes you will only get ten minutes to pitch your business opportunity to investors. It is crucial for you to use those minutes effectively while showcasing not only your business idea, but yourself as its leader as well.
This basic guideline will help first-time CEOs raise investment capital.
Don’t beat around the bush
They want to know what’s unique about your product and what issue it will solve. Build credibility early on in your presentation by impressing investors with what you’ve accomplished so far. How will you reach your customers? How much will it cost? Make sure to cover all the aspects of a full business plan. The trick, however, it to keep it short, concise and easy for the investor to explain to others. Avoid using the jargon of your industry.
Do your homework
Never go into any meeting without having done your research. Although investors might have little knowledge about what you do, you can show that you know what you’re talking about. This means research on competitors, knowing your budget and how you can crunch numbers. It highlights your confidence and indicates that you’re always at the forefront of what’s going on in your business.
Follow statement with fact or numbers – back up all your assumptions. People often forget to specify what makes them different from their competitors. The best way to get the point across is to compare your business to another through a slide in your presentation. Be specific about how you will make money as this will concern them the most. Show what you’re making in revenue and how much you will have in five years.
Prepare a story
Begin your pitch with an intriguing story so as to engage your audience from the get-go. If your pitch is dull, no matter how good, you’ll fail to catch the investor’s eye. He’ll lose interest and before you know it your time will be up. Relate your story to the audience by addressing the problems you hope to solve in the marketplace. Incorporate your startup into the story and include people that can be related to – learn about the people in front of you so as to customise your pitch accordingly.
You and your team
Investing in a businesses means investing in the team behind it as well. Make sure to mention your team and why you think you hired the right people to get the job done. As strange as it sounds, make sure to say what set of skills your team is lacking. Let them know that you know where you need to improve.
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