Article By: Temi Koleowo
You have a great business idea that you are so excited about. At the same time you are nervous and not sure if it will be well received by investors or funding assessors. One of the most nerve-racking presentations you will make as an entrepreneur is your presentation pitch. If you need funding from investors, it is important that you develop and practice your pitch for a better chance of success.
Most investors are put off after the first few minutes of a very boring pitch, so to make sure you keep them interested, use the following tips:
1. Like the executive summary of a business plan, you should explain your mission within the first 40 seconds. Who are you, what do you sell and what do you need? This is important if you want to engage the investors for the duration of your speech. Don’t overload your listeners with complex data and unnecessary information, summarise and move on to the next part.
2. Make the deal attractive to your listeners; always put your business strengths first. Who are your customers? Can you prove that they will buy from you? Remember not every idea is well received, so make sure you portray your concept, customers and prospects as exciting and vividly as possible.
3. What is sufficiently new about your concept? Do not exaggerate, remember investors are familiar with a lot of businesses and can smell a risk from afar. Put them at ease by informing them of how you intend to run the business. Let them know about the large number of potential customers out there and how you are going to attract them to your products.
4. Be realistic when talking about your competitors; highlight how you intend to overcome their threats.
5. What are your personal strengths and what gives you an edge over the man next door? Why do you think they should invest in you? This is the time to sell yourself without being egoistic.
6. Share your successes, have you secured a deal with a big company or do you have some in the pipeline? Remember to share this important information; investors will be more disposed to invest when they know other people are interested in the concept too.
7. Be specific about the kind of help you need. If you need money state the amount, if it’s business development, help and advice, specify in what area? Make sure you give a good breakdown of the funds you are asking for. Be careful and don’t include personal indulgence such as buying a new car for yourself as the director.
8. Practice your pitch many times before hand, so you can develop the confidence you need to give a great pitch. Let the enthusiasm and excitement about your concept be infectious. Investors want to know you can front your business and convince customers to buy.
9. Personal presentation is also very important. When you look good it increases your confidence and people can’t wait to hear what you have to say. Make sure your looks match your pitch for great results.
10. Practice makes pitch perfect. Take note of issues and questions that are raised at each presentation and make sure you address and correct them before the next one.
Always do your home work, learn as much as you can about your sector. You never know, you may even get more investment than you need if you give the perfect pitch.
By the way are you looking to step on the entrepreneur ladder? Business First Steps provides a range of business start-up services to help identify passion, develop ideas and start viable businesses. Temi Koleowo is the business consultant behind http://www.businessfirststeps.co.uk and is passionate about helping people discover and develop their passion into businesses they will love and enjoy.
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