Presenting your business idea to a potential investor without having done your due diligence has the very real potential of killing off a valuable business opportunity. Here are four crucial tips you can use to prepare for your next pitch.
Now it’s no real secret that Venture Capitalists are very busy people. In fact, Forbes quoted them as being the second most sought after commodity and were second only to sleep in the startup community.
And that means if you get the chance to stand in front of an investor you better believe that it’s super important to do your due diligence and make sure your pitch is hitting the mark for your investors.
Keep reading or watch the following video to learn more.
be realistic
Scan through your pitch deck and make sure you aren’t overselling your idea because a Venture Capitalist will see straight through it. What investors want you to demonstrate is a viable solution for a known issue in your industry.
Demonstrating to investors your target demographics and then showing them how you plan to solve that ‘issue’ is vital.
But keep it realistic and don’t over state your solution. Investors are savvy enough to know what can be done and are quickly put off by projections that don’t add up.
do your research. AND THEN DO SOME MORE!
Are you presenting to the right kind of investor? For example, are you looking for a multimillion dollar investment or a smaller investor via angel investors? Don’t waste time pitching to them if they have shown no interest in investing in something your size.
Prior to reaching out to an investor or accepting an invitation to meet, qualify if they are a good fit for your business. Jumping into bed with an investor that doesn’t align with your business goals will only end in heartache.
Use everything at your disposal like LinkedIn, their website and Google. It’s amazing what you will find. Knowing more about the type of company or person you are talking with will give you a clearer idea of how to pitch to them and certainly earn you brownie points if you can talk to them about their own business.
PRACTICE PITCHING
When presenting you will need to demonstrate passion and confidence to fulfil your business goal. That means you need to practice pitching until every detail practically rolls off your tongue.
I’m not sure if you have seen the show Entrepreneur Elevator Pitch but if you get a chance it’s worth it. When someone gets their pitch right, it raises the hairs on the back of your neck. That is what you should be aiming for when pitching.
You’ll need to show investors that you know your business inside out - from development, to roll out and growth. The whole shebang. Know your message and practice, practice, practice.
BE OBJECTIVE
Take a look at your pitch deck and ask yourself, does your business idea look professional and established enough to invest in? In most cases, this can only be done by someone outside the business. Someone with objectivity.
If you need help reach out to me. I’ll take a look at your content and overall message and let you know if you have missed anything or if you are on the right track.
There’s a lot of competition out there for that pot of gold, which means you have to have a pitch deck and a strategic message that not only answers the main points investors are looking for, you also have to have a compelling and engaging pitch.
HAVE YOU COVERED THE KEY POINTS IN YOUR PITCH DECK?
Double check that you’ve got the 15 key points investors are looking for in your pitch deck by downloading my pdf guide. You’ll find the link below. It's a great guide and will give you some tips on how to expand on those points.
need some help designing your pitch deck?
Creating a powerful pitch deck isn’t easy and let’s face it, sometimes you just need someone else’s opinion on whether you are on the right track. If you think your pitch deck needs some help...
The road to success can be tough but don’t forget, you are following your dream so keep on pitching with passion!
You are just one pitch away from success!
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