Pitching an idea in front of a few friends and family can be hard work talk less of pitching in front of potential investors, this can be nerve-wracking. Statistics show that most founders miss an opportunity to get funds for their businesses due to anxiety or fear.
For many start-ups, lack of access to finance essentially leads to the close of business. To avoid this, you should know what investors want and how to position your company for success. Here are some tips to help you;
1. Keep your pitch short; it is always great to do your research before pitching, but when in front of potential investors, you should know how to summarize. The goal of your pitch is to describe your idea or product in a short and concise manner.
2. Tell a story; successful brands have shown over time that storytelling is one of the best marketing strategies, so use it in your pitch. Your story could be a personal experience that led to the business or how the product solves a problem in the society, whatever the angle, always include a story.
3. Know your audience; your audience here refers to your potential investors, research about them. What type of companies do they invest in? At what stage do they invest in a startup? How involved are they in their investments, the list goes on. This helps you to tailor your pitch in the right direction.
4. Dress the part; never go for a pitch dressed desperate, unkempt or without confidence, this would deter your chances. Every investor wants to see a confident person, well dressed and composed, so look the part.
5. Show an exit strategy; investors hope to make more money after every investment, so include that in your pitch. Give details of how your ideas or product would make money, give correct data and analysis to back this up.
With all this checked, you are more likely to get that investment to scale your business.
