Every great product starts with a brilliant idea - and searching for people, resources, and funds to implement it. But, how you will fund your business is the first question that arises once you come up with an idea. You can acquire investments by pitching your project to funding organizations or angel investors.
As an entrepreneur, you never know when the opportunity will arise to pitch an idea. One interesting conversation at a coffee shop could turn out to be a prominent deal investor. Or you might have finally heard back from that startup accelerator you have been hounding for months on end about getting a meeting.
The opportunities are everywhere, and unfortunately, we cannot always control when they come up, which is why you still need to be prepared to pitch.
Your pitch is the main thing that could either get your business off the ground or sink it. It all matters! Here are some of the fantastic tips to get useful pitch ideas for your business.
1. Turn your Pitch into a Story
Storytelling is the best way to pull an audience. It is scientifically proven to capture listeners' attention and hold them to remember what you say. Besides, everyone is fascinated and loves a pitch with a story involved, even the most data-driven investors. So, tell your story correctly, gain the audience's attention, and the funding will follow.
2. Be Specific about your Investment Needs
One mistake founders often make is dubious when it’s time to talk money. Without question, it can be intimidating to ask for a particular amount of money because there’s always a chance that the investment could come up short. It’s necessary to be precise with your request. Not only do investors want to know exactly what their investment will look like, but they also want to see that you’ve thought through your monetary needs.
3. Set Strict Timelines
Businesses are obliged to work on deadlines. So, it is necessary to add deadlines while pitching. Set some distinct timelines that meet the specified period for your investors. It shows how serious you are about getting funds for your company. The more commitment you have to your business, the more satisfaction the potential investors will have in supporting you. Thus, setting deadlines for yourself and making possible investors aware of them is suitable.
4. Speak up about Sales
If you are a new business person who has just started recording sales, make it a point to mention this while pitching to possible investors. State the sales graph and make sure that you define them within a timeline. For instance, if you say that after only six months, you have already made $100,000, it shows the investors that you are getting sales and investing in your business can benefit them.
5. Be Daring
The principal aim for businesspeople these days is to pitch to investors to get the best. But how many of them do it adequately? To effectively pitch your unique idea to investors, you need to tell them about the part of the business that hasn’t been discussed. Let them know that the company will thrive if the potential is unlocked. You have to satisfy every investor you meet about how the financing will shake up the business and do things differently.
You’ll never know how good your pitch is until you do it. Don’t stress yourself out; treat every investor pitch as a learning experience for you and your company. You’ll only continue to get better and better and can apply those learnings to every area of your business.
We at Commitbiz can help you start a business in the UAE. Get in touch with us today for more information.
Why turn a proposed pitch into a story?
Storytelling is the best way to pull an audience. It is a scientifically proven way to capture the listener’s attention and help them to remember what you say.
Why is it required to be specific about the investment needs?
It’s necessary to be precise and specific with your request. Investors want to know exactly what their investment will look like, but they also want to see that you’ve thought through your monetary needs.
Why it is important to set strict timelines?
Setting strict timelines shows how serious you are about getting funds for your company. The more commitment you have to your business, the more satisfaction the potential investors will have in supporting you.
Why should you speak up about sales?
You must state the sales graph and make sure that you define them within a timeline. It shows the investors that you are making sales and that investing in your business can benefit them.
How to be daring about pitching your business idea?
You need to tell the investors about the part of the business that hasn’t been discussed. Let them know that the company will thrive if the potential is unlocked. You have to satisfy every investor that you meet with, shake up the business and do things differently.