Pitching your business plan to investors is no easy task. Even the most competent of young business minds might not be able to engulf the phenomenon of making a successful first pitch. It is true, as you make more and more pitches, you’ll start to understand what an investor looks for in a business plan but it never hurt a man to prepare. So here we are with a list of things that you must keep in mind for your first business pitch.
KEEP IT SHORT
The investors are intelligent folks. They make a living out of investing so it will safe to say that they know what they are doing. An investor has looked over dozens of business plan and decided to invest as they know what they are looking. So it is your main task to keep your presentation short, relevant and to the point.
TRY IT BEFORE YOU BUY IT
Any investor will prefer a business with a proof of successful track record than going for a business plan that is projecting huge growth opportunities in the next five years. Try to test your idea and collect substantial evidence before you try to sell your ideas to investors.
Instead of telling your investor just about the best case scenario, try and make him see how your business will perform in the bad market, normal market and favourable market conditions. This will give the investor an impression of your understanding about your niche.
When presenting your plan, try and show how and to what extent can you save the investor’s money in your day to day operations. Try and minimise the number of perks and incentives that are unproductive and never ask for a high salary.
Keep your product always in focus. Make sure you never lose the sight of your product during the pitch and the investor too will not. Don’t try to diversify much in the beginning but rather focus on developing a single product and allocate all your resources to that product only.
I cannot emphasise more on the fact that your team is and will be your company’s biggest strength. Try and assemble a team which understands their respective niche in the organisation perfectly so that you don’t have to remind everyone and do everything by yourself.