I have seen many business pitches turned down by potential investors due to failure to merit their expectations. Usually it’s never because the business ideas are bad but because the owners failed to convince the investors to put their money in them. Often they’ll either focus on the least vital issues or give right questions the wrong answers. Here are the surest things that you could work with in order to make your business pitch successful.
Make The Story Very Real
Here is the thing, the people you are approaching for funding, soft business loan, or investment need the steak, give them exactly that. Avoid tech talk and buzzwords simply tell the story like it is. Tell what problems are there, how your business will solve it, and if possible give compelling customer stories. But above all stay on track and be realistic don’t dwell on far-fetched ideas.
Give Your Business Model
Your business model or strategy show’s your investor the exact way your business is going to operate. It shows if your business is economically viable and if they can risk their hard earned money in it. Often when it comes to business loans viability of the model will play a key role in convincing your lenders, investors, of donors put their cash in your project. Summarize it in say one sentence for instance a “membership based gym” for if you run a health fitness center.
Know What You Do / How
If a business idea sounds sexy it doesn’t warrant you starting it, no! Forget hypothetical figures everyone is singing about. Build your business around your strengths and talents. This will make it easy for you to do what you do best and know what it is that you do. When you do this you’ll enjoy working with your business and find it easy to pitch your mission, vision, and objectives.
Talk About Competition
If you want to sound credible for any grant, loan, or business funding address competition head on. Bestbusinessloans.net states it pretty well – everyone has competition be it direct or indirect. If possible address your competition differentiators and present it straight to your investors. Talk about when asked and even when the issue doesn’t crop up. Trust me it will be one way to win over a great funding for your business be it in terms of business loan or seed money.
Say Something About You
Do you know what investors really invest in? Do you know who the creditors give the loan for business? The business owner. Typically the business owner comes first and the idea second in line. That’s why you will find an investor saying they’d love to invest in you and your next idea. So often tell the investor why you are the right guy to lead the venture.
Often securing financial assistance for your business idea can be really hard if you are not well prepared with your pitch. So take time to talk to someone and present them with your pitch way before taking it to your investor.