You might already have an excellent business plan drafted. Still, it can never materialize into the empire of your dreams if you don’t secure the funds necessary to build a business.
The opportunity for you to get the investments you badly need could rely on a fifteen minutes presentation, and you will have to make the most of that moment.
The problem is, how do you pull it off? This article is a guide on how you can overcome the tension and nail any business plan pitch you will have to make to your future investors.
Make It a Story
Most specialists on this subject agree that investors and lenders are better attracted to relatable narratives and reviews over just mere numbers and statistics. It helps sell the perception that you are passionate about your business.
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Turning your business figures and facts into a unique and inspiring story gets investors excited about keying into your beautiful business story and gives them an air of certainty that parting with some of their money to invest in your ideas won’t be a mistake. Tell them why you believe in your objectives and not just how you intend to meet them. Narrate to them where you see the business going in the long run.
The competition for investors is high, and a well-narrated business story is what can set your pitch apart from others. Aim to make your story sound even more important than your product.
Now, you must not go overboard by bringing unrealistic and farfetched stories. This will come off as lies. No one will be willing to invest in your business once they perceive that you are a liar.
State How Your Product Can Fulfil Customer Needs
You could think you have the most brilliant ideas and the coolest prototypes ever. If your product doesn’t fix particular issue customers need to fix, your excitement might be short-lived as investors will likely not buy your idea. An excellent way to always start your pitch is by showing that you understand that customers have a need.
You should also have facts and statistics to back it up because it will be hard to get funding from investors if you have no proof that the particular need indeed exists. The next step will be to convince investors that your product or service can solve that need.
If possible, show them how exactly your product will be able to meet the need. It would be best if you also told them how you intend to get the products to the class of consumers who will need them.
Rehearse Well And Enough
Make sure you rehearse your presentation with family, friends and even before a mirror. Do this as much as you can the days before your presentation. Practice will help you perfect and memorize your pitch. It will also help you fight nervousness and anxiety. Tell it over two hundred times during rehearsal if possible.
Rehearsal will also help you identify mistakes and correct them. It will help you identify tiny details you need to add or emphasize more. It would be best if you didn’t focus solely on how you sound and forget the gesticulating aspect. Practice your gestures and demonstrations because they are integral to every presentation.
Try to identify as many possible questions you could be asked during the presentation and prepare a good answer for each. Present before someone and let them ask questions so that you can evaluate just how ready you are.
Also, plan your pauses, rhetorical questions, and emphatic stresses very importantly. They could make a difference. It would help if you understood that there’s nothing wrong with using the same pitch for multiple investors. It just means you get better with each presentation.
Have Realistic Expectations
You must know that no matter how hard you rehearse, your presentation might not go perfectly as planned.
Your expectations should be realistic so you don’t get pushed off guard when investors begin to interrupt your presentation with questions and suggestions. Expecting imperfect moments could also help you better prepare on how to save the day in
case they do occur.
Before selling your business to investors, ensure that your plan is feasible. Your plan also needs to be almost flawless. Going before investors with half-baked plans that are having leaks is foolhardy. Investors will take you as a dreamer without plans.
Another aspect of being realistic is putting yourself in the investor’s shoes. It’ll help you a great deal in chipping off some bad ideas you included and help you chip in some good ones.
Ask
At the end of your presentation, make sure you have an amount you are looking for, and you ask the investors to invest that amount. You won’t just be asked how much you want. You will need to tell them how much you value your business and idea and if it’s good enough, the negotiation table will be the next step.
Be detailed about how you intend to spend the last dime. People are more comfortable investing when they know exactly what their money is being spent on.
Conclusion
Most times, your business plan is all that is standing between you and the funds you need for your business. Invest yourself in ensuring that whatever business pitch you present can sell you to investors.
Write a good proposal and ensure that you are prepared for the questions they will be asking. Cover all loopholes and try to wow them with your presentation.
Also Read: Planning to start your own business? Do not forget these points
