Going out to get funding isn't easy, especially now with more and more people starting up and seeking investors. So how do you stand out from the crowd? As an entrepreneur, you have to understand what's expected of you and pitch accordingly.
Here are some things to remember when pitching to investors.
1. You're not just pitching for financial support
It's easy to become too focused on finding money and forget about the other things you can gain from investors. Experienced investors can offer far more than finances and can provide support, long-term advice, and access to a range of business contacts.
2. Tell the truth
Investors won't put their money into a business they can't trust. So, be honest and thoughtful when pitching and answering questions. If you misrepresent
yourself or your product, you hurt your own credibility. Don’t try to bluff your way through - if you don’t know the answer to a question, say so.
3. Keep it simple
State the problem and your solution as simply as possible and avoid industry jargon. Keep the language simple, and don’t assume that anyone in your audience has specialist knowledge.
If your audience doesn’t understand what you’re offering, then you haven't done a good job.
4. Be passionate
Make sure your pitch reflects your personality and passion. Passionate people truly believe in themselves and their ideas and are the most likely to bring them to fruition.
If you aren't passionate about what you do, no one else will be either.
5. Know your facts
Passion and thoughtfulness can only take you so far. Be prepared and do your research. Understand the key drivers of your business, your target market and your team. Find out everything you can about potential investors. Do your homework.
Pitching to investors can be difficult. It requires a lot of practice, and the more you practice, the more comfortable and effective you become.