Many of you have the idea for business that has the potential to make impact globally but, like all other dreams you cannot go after due to lack of resources, financing is most probably the factor holding you back. Many people let go their ideas, undermine their talents and move on with a conventional job because they think getting financing is something impossible. These idea never get executed so a lot of growth potential is just wasted.
When having an idea and courage to pursue it is done then comes the actual preparation for making the pitch. You know confidence matters a lot but a little preparation matters as well. Presenting your business idea the right way adds color and spice making it as presentable as a food platter prepared by some professional chef. Of course the idea only may not get the desired exciting response. The way you pitch your idea may get you a good deal of investment. We have some tips for you to help you out. Below are the tips we gathered for you so that you just not present the idea in fact you make an impact on your audience.
You do not want to see your audience getting zoned out while you make the pitch. Use story telling techniques. We all love stories. It is a great way to get your subjects attention. Ever observed parents telling stories to their kids to sleep? Remember any of your great story teller friend. Most probably this person is life of the party and all your friends listen to that particular friend of yours. It is because this friend of you has the skill to hook people’s attention. You should also employ this technique while making your business pitch this would your investors’ attention to what are saying. Once the audience is willing to listen to you it gets easier to convince them. Appeal to your audience in a logical and personal manner at the same time. What good is your logic to the investor if it does not appeal to him personally? State facts and figures but make a story out of it and see how much attention was just there already which you were missing.
Choose the right audience
You should know who your right audience is. You just cannot go to anyone or institution, that has the resources, for your business pitch. Selecting your audience in a calculative way enhances your chance of getting finance a lot. If you are a tech savvy you must pitch your idea to those who have a good understanding of the field. It is obvious that you just can’t pitch a great music composition in a software house. Knowing your target audience, filtering them saves you from the wasting your time, energy and resources. It would also save you from many potential denial which would otherwise drain your confidence
Have a simple and Understandable Pitch
All of us, consciously or unconsciously, believe that the more complicated a thing is the more intellectual that is. Like we believe the more expensive a thing is the greater value it has. This is actually not the case. Your pitch should be simple and understandable to the point that you can explain it to a lay man. Do not use unnecessary jargons, complex analysis through charts and graphs unless and otherwise needed. Your pitch is a business idea not the data base of your complex back end knowledge. So keep that as easy as simple as possible.
Have an Insightful Pitch
Your pitch must not be vague. It should state all the necessary details. Be sure not to make generalization during your pitch. Your facts should be straight. The numeric and figures you use should be backed up. You just cannot say something while making your pitch. You have to own each and every word of it. After all you are getting funding for your dream project you do not want to risk that. State what you and the investor get if your business idea is executed. Do not brag about your idea. Explain the benefits and returns just a as expected. Exaggeration is a big no for your business idea pitch.
Set a Timeline
It is crucial for the businesses to work on deadlines. So, making a plan and adding deadlines and following those deadlines is crucial. Setting a timelines creates a sense of urgency. It motivates you to work along the deadlines, follow schedule and track your progress. Set some specific timelines that are aligned with the period specified by your investors. It shows how concern and dedication towards your business. You are pitching for getting funds for your business you must seem and be enthusiastic and motivated towards it. The more commitment you have for your business, the more confidence the potential investors will have in you. So set deadlines and prove to get desired results in required time.
Eye catching presentation
Your presentation should include graphics, pictures and icon where necessary. It increases understandability of the audience. But be sure not to add unnecessary visuals as it makes the presentation unprofessional. Do not waste your slides with conventional terms like “thank you”. Instead seek to answer the questions an investor ay have in his mind
Be in the Investor’s Shoes
To understand your audience well think from your investors’ perspective. This will clarify all the questions in your mind regarding winning investors’ mind. Be smart with this move and it will get you the result you desire.