Do you need surefire ways to pitch and get your business funded? Are you starting your business from the scratch and need to meet investors for business loan?
If yes, kindly read this article to the end as it promises to highlight the some pitching styles that investors can’t turn down.
Obviously, startup pitch is one important thing that could uplift a new business venture into a successful one.
It could equally kill the business idea if the investors are not satisfied with the pitching. It really matters…!
So your pitching knowledge and understanding are what will tempt investors to invest on the new business.
Pitching and Investors rule of thumb
One thing you need to understand about investors when you want to pitch and get your business funded is the rule of thumb.
Thus, the investors rule of thumb state that; for every 100 businesses they invested in, only 10 out of them will grow big.
This means pitching to get funded comes with some certain tactics. Which is exactly what this article will do.
Essence, the rule of thumb further maintains that; for every one thousand pitches an investor listen to, only hundred of them get funded.
That is to say, the success rate isn’t great.
However, you can be among the lucky 10 or the luck 100 if you could build a pitch that touches and gets funded.
Read also: How to write an effective Business Proposal
How to pitch and get Funded
Are you in need of compelling and unforgettable pitch that’ll get your business funded?
Then, to craft an irresistible and outstanding pitch, there are some elements that needs to be observed.
Of course, it might be difficult to pitch and get your business funded without putting them to use. They are;
1. Be concise with your pitching
One of the secret ways to pitch and get your business funded is to be time conscious.
Time is of essence and the less time you take while pitching the better. The more precise you can be is the more effective your pitch will be.
Thus, an excellent idea without the will power to manifest it in few minutes is meaningless.
If you have the intention of spending 5 minutes in the course of your pitching, you should consider rounding it up in four minutes.
Also, endeavor to present your points and ideas at a good pace. Never rush things.
And if you’re equally told to use 20 minutes for your pitching, you should consider spending 15.
If the investors have interest in your idea, they’ll surely ask questions and the rest will be history.
2. Be a storyteller.
Turning your pitching session into a storytelling gathering is another beautiful way to pitch and get your business funded.
Scientifically, storytelling is one of the proven ways to arrest and hold a listener’s attention.
Business investors have seen several papers, numbers and valuations, spreadsheets, etc. on their table.
These are all data they can easily get. They are tired of them all, they’re so monotonous.
Hence, your ability to make up a good story with respect to your business ideas will make the pitch an unforgettable one.
Narrating a pleasant story and pathos that’ll serves as the propelling force of your startup is what every investor want to listen to.
With the most data and book driven among them. As such, tell your story right, gain much attention and your business will be funded.
3. Explain what your venture is all about.
Similarly, your ability to show your ideal investors the real picture of your product or service will enhance your pitch and get your business funded.
But that doesn’t mean you should bore them with it. Be informed that they care much about the money the product will yield than the actual products.
Therefore, give them the precise and concise state of your products or service and let the investment capital start flowing in.
4. Define what makes your product or service unique.
If your business establishment is not producing or rendering any special service, you shouldn’t even bother attending the meeting.
Instead of wasting your precious time, you should go back and come up with something better and worthwhile instead.
However, if you’re on the verge of producing or rendering a unique service, you might want to pitch and get your business funded by the investors.
5. Identify who your ideal audience is.
In the same vein, try to show your potential investors who your target customers are. This will boost your pitch and get your business funded.
A relevant data points and your plans to meet them, provide or render them the solution they need the most will convince the investors to give you the investment capital.
More also, in the course of explaining who your customers are, adopt the psychographic and demographic features in identifying them.
6. Explain Your marketing strategies.
The success of every profitable business can’t be measured with given thanks to marketing.
Marketing helps business establishment a lot.
So explain to your investors while presenting your pitch the intending marketing method, process, idea or technique you’ll use to grow your business.
The best chance to showcase that is during pitching. After all, your products wouldn’t sell themselves. You’re to sell them.
As such, investors have to be convinced enough that you have an airtight marketing tactic for growing the product in the market.
Without an efficient marketing plan for your business, it’ll be difficult for you to pitch and get your business funded.
However, whatever your marketing strategies are, never discussed them without including digital marketing.
Investors won’t glance at your product if it’s not backed with a tactical plan for digital or online marketing.
7. Identify your revenue scheme.
Apart from the fact that you want to pitch and get your business funded, remember that investors invest also for a return on the investment.
So an investor wouldn’t hesitate to acknowledge your pitch if you can explain how his or her company will enrich you.
In a simpler term, all that the investor want to hear is your revenue model. Thus, identify your revenue model type and your plans in applying such.
Although it might not be easier to pitch and get your business funded in the beginning, but with a perfect revenue scheme, you should be able to win the investors heart.
8. Dress to kill.
Like the old cliche as you dress is the way you’ll be addressed. It may sound unfair to judge someone’s pitch by way of dressing.
But note that human natural tendency may not find it easy to overcome. Hence, dress to kill while going for the pitch presentation.
Accordingly, the thousand dollars you spend on a new suit will later be recovered when your pitching is accepted and the investors promised to fund your business.
9. Get prepared for questions.
Also, you can only pitch and get your business funded if you’re ready to answer investors questions thrown from different angles.
Be enlightened that an investor will only question you if he’s interested in your pitch, be prepared and get set for these questions.
Let’s investors see your ability to answer tough questions so as to demonstrate how you’ll handle the difficult situation when your business encounter one.
All these will convince the investors that you won’t disappoint when you’re being funded and your entrepreneurial dream will come into limelight.
10. Show them the exit.
The last but not the least on the list of killer pitch is an exit strategy. With a plain exist strategy, your pitching will be a success.
Many pitchers failed to convinced investors because they overlook this vital component in the course of pitching.
As much as you want to build and grow your business idea, investors want to establish a financial income in a short period of time, too.
So your business plan and pitch should be able to answer the investor’s unasked questions explicitly.
Investor silent or unasked question like how your business will make him/her enormous money within five years.
An answer to such question is your business exist strategy. Shipwrecking your start-up plan is answering your sale valuation or revenue.
Read Also: How to Start a Profitable Business in UAE
What investors want isn’t a marginal return but rather, a big payoff. Not just to get back their investment capital but something huge than that.
If you’re able to deliver what business investors want, you’ll have an irresistible pitch. Hence, get your new startup funded.
To pitch and get your business funded means you’ve canvassed some ultra compelling points.
And that’s the goal of every entrepreneur. So with the above strategies, your business pitch will surely be a success.