Summary: Pitching your idea to your potential investor seems incredibly nerve-wracking. But it is vital to any startup business.
Pitching a business idea successfully to an investor is an entrepreneur`s dream. However, it’s a nerve-wracking experience too! It is like the feeling of giving a presentation in front of the entire class. The only difference between the two is that the former is more challenging!
One often wonders if the potential investor is interested enough. Will they like the idea? And most of all is this potential investor going to fund the project?
The key to doing it successfully is being able to deliver it confidently. However, it can appear as a mammoth of a task if you feel shaky about your public speaking skills.
So how can you ensure that you get investors for your startup business? By not doing mistakes that most entrepreneurs commit unknowingly and by attending India`s most powerful business training---‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra. Also, they practiced the best ways to approach their investors.
Here are top tips for pitching your great ideas or products to investors:
1. Focus On Your Purpose
Connect with what you are doing and focus on the solution that your business idea will provide to your customers. Find a way to calm yourself down beforehand. Practice moving the focus from yourself and your body back to the room, the people there, and your message. Always remember it’s your idea that matters.
2. Perfect your Elevator Pitch
Your elevator pitch is a teaser of your startup business idea. These 30 seconds of elevator pitch should explain everything that someone would need to know when they meet you for the first time.
Your elevator speech should be crisp, direct, and clear. It should simply describe your product or idea and tell your investors everything if they have no background knowledge about your startup.
It should cover the 3W`s- ‘What you do,’ ‘What problem you solve,’ and ‘Why are you different?’
After your pitch, make sure to connect with the person listening. Ask them questions and resolve their queries. Learn how to impress investors with your elevator pitch by attending LFP 2.0 by Dr. Vivek Bindra.
3. Find & Research your Potential Investors
If you come prepared, the battle is half won! So before doing your pitch, do some research on who you will be presenting. You can also work along with a business coach who can help you find some investors.
You can also search for the list of Angel Investors networks that focus on your region. Some of the investors may be popular figures. So you can research them well online. Study their patterns, as some investors like to be involved in the company they are investing in. Others would rather be hands-off and would rather like to receive quarterly reports on profitability.
4. Present Facts & Figures
When you are pitching your idea to a potential investor, provide solid data reports. Investors are always interested in what you have already accomplished. Also, how much profit they will make post-investment in your company.
The value of a startup is often built even before they have made profits. The numbers behind it are often driven by speculation about how well the company could perform shortly.
However, you must also be well-prepared to back up the numbers you provide to your investors. Investors would want to hear the reasoning behind your numbers.
Do not just give a random figure of new customers your company is acquiring every month. State the exact number of how many customers you will acquire. It does not matter if you are attracting 20 or 20,000 customers. Your transparency and honesty are what matter the most!
Always remember that an investor is not just investing money into your company, they are giving it to you. And they are investing because they believe in you. Hence, give them confidence by providing real data.
Are you trying to find investors for your startup, but could not despite having an innovative idea that could make huge profits in the long run? Worry not! With our ‘Leadership Funnel Program 2.0 by Dr. Vivek Bindra’ you can learn how to raise funds for your business even without an investor. For more information, click here: https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078 .