How to Pitch Your Business Idea to Potential Investors ? Opportunities for All
Table of Contents • How to Pitch Your Business Idea to Potential Investors ? • Effective Communication • Essential ingredients • Negotiation • Tell a story! • Know your audience • Optimize Reality • Conclusion
How to Pitch Your Business Idea to Potential Investors ? • An entrepreneur’s journey is uncertain. Some may feel surprising, some might shock you. But one thing is for sure, things keep moving! • In this presentation, we help you understand what effective communication can do and where can it actually help. • The first step in starting a business idea is to have one! Once you have figured out what you will do, its time to flesh it out through documentation, an in-place business decisions..
Effective Communication • You should speak what you reflect. These days’ people with impeccable English are preferred over people who cannot communicate properly. • It’s extremely important to let the other person know what you feel and what you are trying to offer them. The only way to do this, is to learn how to communicate efficiently. • To do this, you need to be able to clearly deliver content verbally to a literate audience. Practice this art and you are sorted!
Essential ingredients • You have to learn to identify what the touch points (important takeaways) are, that your product or service would offer. • You should develop the habit of building on those touch points. • You need to understand what are the revenue making pointers in your idea/service. • Rehearse them to know what will help when and what will not.
Negotiation • This skill is definitely an art! The better a negotiator you are, the better chances you have to land up a sweet spot! • Negotiation is required at every stage, starting right from the conception of the idea to a stage where you think of expanding your brand value. • If you are a good negotiator and you know what you are talking about quite clearly, then people around you will take you seriously.
Tell a story! • Yeah you heard it right! Being a story teller is about telling an untold story like never before! Let’s say, your idea is too technical to be sold to an audience who do not admire tech. The chances are, that you will land up not getting an investor’s attention although you had the chance to do so. Instead of letting go of that opportunity, build on the art of story-telling that will serve you well. • The size of your idea doesn’t matter; what matters is if you are able to explain the idea well to a group of people who are willing to listen and work with you.
Know your audience • I cannot stress on this factor enough. An entrepreneur has to meet many people and talk about the same story many times. You need to be sure to give enough information to specific groups and keep it short but effective. • There are two parameters to this, one is you need to engage your audience, and two is to make them understand what you are trying to tell them. For this, you need to know your audience; by this, we mean knowing their knowledge level on the subject, their career backgrounds, their sensibilities, their expected responses, the questions they can ask and so on. Based on a good reference with these in mind, you need to chart out the conversation. • For example, if your audience consists of a good number of tech people, then it’s probably wise to pivot the talk relative to the technical aspects of the product rather than finances of it. Otherwise no matter how well you present the story, no one is going to understand it.
Optimize Reality • All of us hate deadlines! It’s hard to keep them up. But deadlines, taken in a positive way is good where discipline, hard work, time punctuality among other things can be appreciated. • As a business owner you need not take “deadlines” as a burdening factor. In fact, you can take it as a parameter where you can identify exceptional performers. These performers when promoted will help you scale great heights. How well you set your deadlines and keep up with it, with the workforce you have, will determine your strength in convincing people.
Conclusion • Raising funds and investments is not a one-time affair, but rather a continual process. You will be needing more than one investor when -what you call a small business will grow on demand. Therefore, when you meet someone who will potentially make an investment in business, then probably, its best to talk to him about the kind of revenue he will generate for capitalizing the investment for you. • There are many technical details on the same thing such as accurate paper work and finding a delicate balance between the leaders of the small- time business. However, these are beyond the scope of this presentation. • Following the ones above, will obviously help you get a steady start in whatever you will be doing or wish to achieve. Viewham is a platform that will help you get in touch with investors and other people who are interested in your idea. To know more and to understand the process, please visit us here www.viewham.com.