Sweaty palms, butterflies in your stomach and a real desire to succeed. Anyone who’s pitched to investors will know the feeling.
If you’re lucky enough to get the opportunity to pitch to investors, then you’ll know how important it is to get it right. It’s your one and only opportunity to wow potential moguls with your business planning, which is no mean feat. Especially with 5.9 small businesses in operation already in the UK – you need to make yours stand out!
To help entrepreneurs prepare for investment, we’ve put together our top tips to help you secure the funding you’ve always dreamed of.
Practice makes perfect
Firstly, if you’re going to pitch to an investor then you’ll want to make sure you’re prepared. From making sure you’ve practiced your speech to brushing up on your figures – practice is crucial for a slick presentation.
In fact, so you can practice properly, it could be best to ensure that you stay over wherever the presentation is taking place. If you’re down in the capital for example, it could be worth staying over the night before to ensure you get a good night’s sleep.
And don’t go cheap! You want to be well-rested, so you’re refreshed and ready to go. To make sure you’re looking and feeling sharp for the presentation, it’s could be worth looking at some serviced apartments in London rather than a cheap hotel to ensure that you get the sleep you need to perfect your pitch.
As part of your pitch, you you want to tell a story that interests the potential investors. Rather than spouting off about your life story (as interesting as that may be!), lead with a vision of the future or how your business may change how we do things.
Most of all – be inspiring.
Substance over style
Although good marketing and a slick presentation will get you so far, you’ll also need to know your onions. From things such as knowing your product, the market and your USPs to describing the estimated turnover and strategy – you’ll need to wow the investors with your knowledge and research.
Without that, you can say goodbye to the much needed cash injection.
If you don’t know an answer to something, the worst thing you can do is try and fumble your way through it. The investors have been pitched to by hundreds of potential businesses and know when someone is just rambling. Be humble and admit when you don’t know the answer.
Remember – it’s not just a pitch
Although writing a good business plan and presenting an innovative patent-pending design may be good on paper, investors aren’t only interested in your business. They are interested in you. So, it’s important to conduct yourself in an appropriate manner. You could have a really good business opportunity, but if your attitude isn’t right, then they won’t invest.
After all – as investors they will have to work closely with you, so being likable to the investors is important!
Although it can be nerve wracking pitching to investors, there are a few things you can do to ensure it goes smoothly. From thorough preparation through to finding somewhere to stay the night before – you too can ensure a successful next pitch.