AN APPEALING PITCH THEY CAN’T DENY…
Own a startup? The set up needs a boost? In the juvenile phases of your establishment, you choose for active investors to back your dreams. You need to define your goals and set a target. How you turn potential investors into actual investors is the key to this.
There are startups which are trending these days. Every other mind has business on it. And investors don’t have scarce options. They want the best and eventually, they get it. As any other interview, a pitch for your startup to an investor goes the same. The winner takes it all.
No matter how great your product or service may be, it will not suffice. The product/service cannot sell itself, for that you need funding. And if you aspire to have the best funding then you should be on target.
One of the skills as an entrepreneur is Improvisation, but that’s not all. You need to have a polished pitch deck that will intrigue the investors in particular. It should contain these essential parts.
1. A good introduction which is crisp:
The investors should know who you are and what you and your team will be doing. They should be convinced enough to shell out an amount that suffices your target. The key should be proficiency of your team members and how they would be working.
2. Describe the essence of your plan:
It is a time that you directly jump into the problem that your product/service will offer a solution to. Narrate a story-like formation of your solution to the problem. You need to be precise and uncommon in your approach if you want to impress the investors. If you fail to convince them that you really have the unique solution to the particular problem, you have lost the battle already.
3. Serve them with the solution:
Once you are done narrating the problem and the investors are looking for your next step, you delve deep into the solution. You need to be concrete and measured while presenting the solution. It should not be a loose-ended solution that might lack essential engagement from the investors. While you are at it, provide them with test results and testimonials you have gathered during the initial phases of your launch.
4. Check your market:
After the investors are convinced of your problem-solution part of the product/service, you need to clarify to them that you have checked the market statistics. A detailed split-up of your potential market and its position as of now, will help them better. Your potential customers and their will to buy your product is another thing you need to convince them about. Basically, a demographic and psychographic analysis of your Target audience.
5. Introduce the Product/Service:
After you are done with your basic explanations, you are now ready to get the bunny out of the hat. It is now when you would show the investors of how your product/service functions. You can maybe give them a beta version or a sample of your product/service, this is the best way you could cater to their curiosity and make them have a firm belief on your product/service.
6. Simplify Your Business Model:
All seems to be good till this point and you know your investors are now interested. Here is where you take a step further and pitch the point of how your business will make money. Step into the intricate points, describing in detail. This is when the investors will be keener to listen to you as it will be mentioning how exactly will this project give them returns. Ultimately making them invest in your startup.
7. Discuss Your Strategies:
Make sure that you interest your investors into how you have researched and created strategies for your growth. How you wish to around with your branding, take seminars and educate many more, partnerships, marketing campaigns. How you would establish your presence in the digital market, i.e. social media and other online facilities. Ultimately fulfilling the goal of getting your product from your end to that of the customer’s.
8. Compare your product to competitors:
The investors would like to know who your competitors are and how you plan on beating them. Plan this part with good research and clarify what your completion is up to and how you would be tackling it differently.