If you're looking to get funds for your startup from investors in addition to our business banking solutions, you'll need a memorable pitch to ensure they're going to cut you a check following your presentation.
Here are four helpful tips for pitching your ideas:
Don't rely on your slide presentation
When creating your presentation for your pitch, keep minimalism in mind at all times. The slides aren't the ones pitching an idea, so they shouldn't carry the presentation. Go with only a few bullets points per slide to prompt and support your talking points. Also, don't make the slide presentation too long.
If you have a specific product you want to highlight, including a video is a great means of giving a demonstration. However, keep the video short.
Be honest and acknowledge challenges
Big-time investors such as venture capitalists and angel investors all understand what it's like to start a business from the ground up, which means they know it isn't going to be easy. When you give your pitch, address possible challenges to your success. If you enter the meeting and claim you have no competitors and will hit unrealistic goals within a short time, the investors may think you haven't properly researched your market.
Be honest about your capabilities and finances. Plan responses to questions about obstacles you may face to give the investors an idea of how you will thrive in a challenging environment.
Research the investors and tailor your pitch
Each investor has different ideas about what makes a successful business, and you have to cater to those beliefs. Take some time to find out who your potential investors have backed in the past. Then, assess the unifying factors between those businesses. Are they led by a single entrepreneur or are there teams of shareholders running the companies? Are their products and services similar to yours?
Also, consider whether the investor you're soliciting knows anything about your industry. Depending on the business and product or service, their subject matter expertise or lack thereof can be a benefit or an obstacle.
Include an exit strategy
Investors want to bank a profit in a short amount of time, and your presentation must include a way for them to achieve their goal. If you plan to leave the company, what are your plans for ensuring the investors recoup their contributions plus a tidy return?
For more information about how you can grow your business, contact Landmark Bank.
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