Nowadays, more and more people are curating their own business adventures and walking down the entrepreneurial road. Everyone wishes to be their own boss and generate their own money, however, making your way to your ideal business destination can be trying, tiresome, and expensive. There is no roadmap, and each business is different. You need to prepare, and when you’ve finished preparing, you’ll need to prepare again and again until you’ve made it to your business milestone – getting your start-up off the ground.
For many entrepreneurs, their start-ups will need funding. Many will put up their own money or some may apply and get same day loans for investment purposes, however, this is incredibly risky, especially if they have a family to support. Although starting your own business is invigorating, it is also risky, so you need to ensure that you find reputable mentors and investors to keep you going strong. One solid and stable way of getting your business both noticed and funded is by presenting a killer pitch, however, this is a daunting experience and can be a once-in-a-lifetime opportunity. Here’s how you can pitch your start-up to investors and secure the funding you need.
Prepare Yourself, Not Just Your Idea
To most, ensuring that their business is fully fleshed out and ready is of utmost importance. Although it is incredibly important, what’s a good business plan with an anxious and poorly communicated speaker? Investors aren’t only investing in your business ideas but they’re also investing in you, too. Therefore, make sure your appearance is on point, your body language is practiced but not too over-rehearsed, and practice pitching in front of the mirror or with family and friends. Investors will want to see that you’re fast, thoughtful, and well-put-together, just as much as your business plan.
Bullet Point the Essentials
These essentials will be different to every business, even if they’re in the same field and industry. Rather than ramble on about where you want to go, how you’re going to use the funding, and what you’re trying to achieve in a long speech, make sure to communicate the most important points. Punctuate the essentials through speech – pause so they know it’s important and emphasise your words. To avoid it still getting lost in translations, provide them with paper documents which is a condensed version of your pitch. For example, your business should be secure, especially if you’re selling products online; therefore, have a section dedicated to secure payments and how you’re going to ensure they are fully supported in your business.
Research Your Investors
You’ve visited them for a reason, and knowing who they are and what makes them tick can work wonders. Find out who they’ve invested in before, how it paid out and whether they usually invest in people like you. Although they’re going to be investing their time and money into your business, you need to find out if they’re as much as the right fit for your business as you are for them. You do not want to be wasting anyone’s time, so make sure everyone is happy, in-the-loop, and providing useful information.
Pitching your business idea can be nerve-wracking, but you need to keep these anxieties in check. By practicing and ensuring you’re well-learned, knowledgeable, and passionate, you’re doing the best that you can to start your career as an entrepreneur. Remember that you may have to see and speak to many investors before finding the right fit for you.