One of the toughest presentations to make is the entrepreneurial pitch. You have a fantastic thought for a business and you want someone to give you money to make it happen. The problem is that venture capitalists, , and even rich uncles and brothel in laws are heavily predisposed against you. Why? Because 99% of the pitches they hear sound like sure-fire prescriptions to lose money!
Launching a business is no small task.
No matter how huge an thought you reckon you have, it still takes a lot of work and a ton of cash.
, how aspiring entrepreneurs pitch their business concepts and products to a panel of business moguls who have the cash and the know-how make it happen. They’ve all been there themselves, so you better not walk into the presentation unprepared. It takes more than passion to convince these boardroom giants,brothers and uncles, that your thought is worth their attention.
The investors are ruthless and rightly so – it’s their own personal money on the line.
If you are pitching investors to give you money for a new venture, you should subscribe to the following rules:
1. Clarify exactly what your business is within the first thirty seconds. Many waste valuable time giving loads of data, background and other info—all the while are left scratching their heads thinking “What does this business really DO?”
2. Tell your audience who your customers will be. Paint a vivid, specific picture of these people.
3. Clarify why your customers going to give you there hard-earned money.
4. Clarify who your competitors are. (And if you say you have no competitors, that is a certain sign you are unsophisticated and deserve no investment money!)
5. Clarify why you are the to make this happen.
6. Give your presentation with confidence and enthusiasm. want a founder/CEO to be a chief ; they want to see that you can convince the world of your dream—not just them.
7. Clarify what star you can hitch a ride to. Has or agreed to distribute your new product? Investors feel much more comfortable knowing you have an established player willing to distribute your wares.
8. Question for a specific amount of money. If all you do is question for money, then you can’t complain if an investor gives you $3.25 for a cup of Starbucks coffee.
9. Tell prospects exactly what you are going to spend the money on (hint:a trip to Maui for you and your friends will not impress)
10. Dress well, act confident, and place on the air that you don’t really need their money, but would be willing to accept it if they bring enough to the table to be a strategic partner for you. Sad but right regarding human nature, but people are much more likely to give you money if they feel you don’t really need it.
Finally, make each pitch serve as a focus group for your next . When one group of questions you a series of questions after you pitch, write down all of those questions and make sure most of them are answered in your next pitch so that the next group doesn’t have to question them. Keep pitching and keep improving your pitch and eventually you may get funded.
Don’t wait to start learning your own entrepreneurial spirit.
Take action today!
My diverse background, extensive resources, industry knowledge and experience will help you bridge the gap. I will provide you with a network of experts, other entrepreneurs and business owners. We’ll help place the puzzle together to make your business dreams a reality.
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