10 Tips for a Successful Entrepreneurial Pitch . One of the toughest presentations to create is that the entrepreneurial pitch. you have got a good idea for a business and you wish someone to administer you money to form it happen. the matter is that venture capitalists, angel investors, and even rich uncles are heavily predisposed against you.
Why? Because 99% of the pitches they hear sound like sure-fire prescriptions to lose money! If you’re pitching investors to provide you money for a brand new venture, you ought to subscribe the subsequent rules:
1. Explain exactly what your business is within the primary thirty seconds.
Many entrepreneurs waste valuable time giving different data, background and other info—all the while investors are left scratching their heads thinking “What does this business actually DO?”
2. Tell your audience who your customers are going to be. Paint a vivid, specific picture of those people.
3. Explain why your customers visiting offer you there hard-earned money.
4. Explain who your competitors are. (And if you say you have got no competitors, that’s a particular sign you’re unsophisticated and deserve no investment money!)
5. Explain why you’re the ONE to create this happen.
6. Give your presentation confidently and enthusiasm. Investors need a founder/CEO to be a chief salesperson; they need to determine that you simply can convince the planet of your dream—not just them.
7. Explain what star you’ll be able to hitch a ride to. Has Best Buy or Radio Shack agreed to distribute your new product? Investors feel rather more comfortable knowing you’ve got a longtime player willing to distribute your wares.
8. Elicit a selected amount of cash. If all you are doing is kindle money, then you can’t complain if an investor gives you $3.25 for a cup of coffee.
9. Tell prospects exactly what you’re visiting spend the money on (hint:a trip to Maui for you and your friends won’t impress)
10. Dress well, act confident, and placed on the air that you just don’t actually need their money, but would be willing to simply accept it if they create enough to the table to be a strategic partner for you.
Sad but true regarding attribute, but people are far more likely to grant you money if they feel you don’t really want it.
Finally, make each pitch presentation function a spotlight group for your next presentation.
11.When one group of investors asks you a series of questions after you pitch, write down all of these questions and ensure most of them are answered in your next pitch so the subsequent group doesn’t should ask them.
Keep pitching and keep improving your pitch and eventually you’ll get funded.