5 Tips For Pitching Your Business Idea

June 23rd, 2017 | by James B
5 Tips For Pitching Your Business Idea
Business
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Whoever is thinking of entering the business world, the first thing they are going to need is a good idea. Those who don’t have the means to finance their start-up by themselves must know how to pitch their idea before the potential investor meetings start taking place. When everything sums up, there are five essential tips that are very likely to help you obtain enough money to put your starting business in the idea-realizing fast lane.  Let’s check them out.

Speed equals attention

When presenting your business idea, you shouldn’t make your presentation last too long. Most experts agree that 20 minutes is more than enough to explain in short details what your business idea is all about. The potential investors need to start believing in your vision in order to entrust you with their money. The more concise and organized you are, the more effective your meeting will be.

Extra tip: Make sure you don’t break your time limit – if you say you will give a 15-minute presentation, make it last a minute or two shorter. And ‘one last thing’ should definitely mean there is just one last thing you’ll say.

Introduce your product or service

You most certainly won’t read much about the starting businesspeople who failed because they became so focused on presenting their business idea that they forgot to explain what their product or service actually is. To avoid that, make sure you explain the details of your product or service at the beginning of your presentation. This way, the investors will have a clear picture as you make your way through the presentation, and you will be sure they understand what you are talking about. Still, don’t linger too long about your products, because the investors really want to hear why you are worth their investment.

Include one part about attracting customers

You can have the best business idea in the world, but you’ll see no money unless you tell your potential investors how you plan to attract customers. Do your homework before the meeting and come up with a research-based marketing strategy that suits your business. The strategy you present needs to be up to date with the latest marketing trends like social media marketing and influencers. Be assured that the investors are following the current marketing strategies and won’t even think about entrusting your with their money unless you show them a good plan for promoting your product or service online.

Anchor a good visual presentation

No matter how experienced a speaker you may be, chances are that some of the potential investors won’t really focus on your idea if you keep on talking for 20 minutes. That is the very reason why a good pitch needs to include a professional PowerPoint presentation that will help you shape your idea correctly and make the whole meeting much more engaging. If you have difficulties in designing your presentation, don’t hesitate to hire experts that specialize in presentation design services.

5 Tips For Pitching Your Business Idea

Be ready for the follow-up questions

If your presentation makes an impact, the potential investors will surely have something to ask when you finish. Even more likely, they will interrupt you simply to ask for more information about something you were describing. If your answers fail to inspire confidence, they will think twice about giving you the money you need. The best way to prepare for the questions is by rehearsing with your family or friends, so they can act as your potential investors and come up with some good questions.

The whole point of your pitch is to make the investors line up at your door with money in their hands. These five tips will help you deliver your idea in the exact way the investors are hoping you will.