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If you want to start your own business, you need money. To start with, you can get the business going with whatever money you have managed to save up, but there will come a point where you need to start looking for investors. If you want the business to grow and start turning a profit, you need that cash injection.
But investors won’t just hand their money over no questions asked. It’s up to you to convince them that your business is going to be a success and they will earn back their investment easily. They will have other options to consider so unless you can show them that your business idea is better than anybody else’s, you’re not going to get anywhere.
That’s a tough task to take on, but if you want your business to succeed, you need to find somebody to invest in your business. If you are setting up some meetings, make sure to read these simple tips to help you deliver a pitch that is sure to impress investors.
Don’t Make It Too Long
This is the most important piece of advice that you’re going to get. People don’t want to sit through a presentation that lasts an hour. It doesn’t matter how great the product is or how promising your projections look, if people are bored by your pitch then they are not going to invest. That’s why it’s so important that you keep it short and sweet. Think about what the main selling points of your product are, give a quick rundown of the financial projections, and outline your plans for the future. Anything more than that is unnecessary and just makes the pitch boring. Ideally, you don’t want it to be any longer than 20 minutes. If there is anything else that they need to know, they will ask.
Use Plenty Of Visuals
Even if the pitch is short, people will get bored if it’s just you talking at them for 10 minutes. It’s a lot more engaging if you use plenty of visuals. Make sure that you have good audio & video systems set up and get plenty of good images and videos of the product, as well as clear graphs and tables to outline the financial side of the pitch. Good visuals will make your pitch so much more interesting and it will also make it a lot easier to understand. It’s a lot better to show people the benefits of your product in a video than it is to just tell them.
Know The Numbers
So many people get caught out because they spend all of their time focusing on the product and not enough time on the numbers. Investors will always want an in-depth look at your finances and they will need to know how you plan to earn their money back and how long it will take. If you can’t answer their financial questions, they won’t invest. That’s why you need to create a detailed financial plan for the business and learn it inside out before you go into the pitch meeting.
As long as you keep these 3 things in mind, you should be able to create a pitch that investors can’t turn down.