What’s the first thing that comes to your mind when it comes to pitching your business? It’s common for all would-be entrepreneurs – How to make a pitch that get the business off the ground?
Believe it or not, it matters! Whatever you communicate at the time of presenting your business idea or business model to investors can either make them write a cheque or simply turn them off! A big part of their decision to fund your business is going to be based on the quality of your presentation, and the people involved. Just remember that they were once in your shoes, and have already listened to plenty of pitches. They know where to look and what stands for a quality pitch.
Let’s dive in and learn what components have the power to make a pitch investor-worthy and how to write a business plan that has all the right ingredients to make your presentation irresistible, outstanding, ultra-compelling, and unforgettable.
Be a storyteller when pitching executive summary
..and take no more than 10 minutes.
A brilliant idea means nothing unless if you are not able to communicate it in a succinct and effective manner within a few moments of sheer power. Angels investors like to invest in entrepreneurs and not exactly in the business. You have the idea? Good. You know how to execute it? Even Better. But if you are passionate about it and have a clear vision for it, you’re walking out of the room with an X amount of cheque.
Be laser focused when delivering the summary. Be a storyteller who takes them on a journey that they have never experienced before. They already have the facts and figures. They want to know if your business idea will be able to capture listener’s attention. They want to know if you have what it takes to make an idea turn into a million dollar business. So tell your story right and with enthusiasm. You are bound to gain attention!
Focus on creating a single-product
Capture the essentials and stick to it. Investors want to start small and avoid businesses that are eager to bite off more than they can chew. Angels care more about your strategies to create, manage and fulfill demand for a single product. How do you plan to make your business crawl in the first stage. What marketing tactics you want to imply for customer acquisition? Demonstrate that the focus of your team is to develop a sustainable business model that is poised for exponential growth. Just remember that all successful businesses, such as Google, Microsoft etc. are based on a single product. When writing a business plan to pitch your products, be ready with the answers to the following:
- Explain what exactly is your product about?
- Who exactly are your competitors?
- How exactly you intend to acquire competitors?
- What exactly is going to be your revenue model?
Always end with what they want to hear
And this is how my business idea will make you (us) rich! Yes, the ultimate motive of your investors is to become rich using your business idea and by putting money into your business they are building additional source of passive income. When you end your presentation or a business plan with the revenue model, and if it is compelling enough, you automatically increase your chances of securing the funding you need.
Explain your revenue model and specifically identify which type of revenue model you intend to apply to generate inflow. Present at least three version of revenue model with different projections – best case, moderate case and worst case. Show investors that you have a grasp on reality. Every investor wants to make a lot of money in a short amount of time. What is a “short amount of time”? Your business plan and pitch should explicitly answer this question.
The goal of writing a successful business plan is to have investors to invest in your business idea. Sure, that sounds too good to be true, but it is possible.
When you present a compelling and high-impact pitch, answering what an investor wants to hear, you will be able to excite and inspire potential investors begging to invest in your brilliant idea.
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