Find-out how to Successfully Pitch Your Business Plan!
If you are looking for external capital investment, after finishing writing your business plan, you will have to pitch it in front of potential investors. You have probably already heard that investors care mostly about the business idea and the way in which it is pitched. But how can you deliver a professional pitch without a professional business plan?
The first thing you should know in order to be able to deliver a good pitch is your audience. You should make sure to browse the internet for details about the investors who will be in the audience. You must consider their previous funding plans, their specialty, their fields of interest and the way in which they generally react.
Make sure that you are not just delivering a business idea, but telling a story. Investors have the tendency of getting bored after listening to hundreds of business plans. The only way to make them enthusiastic about your idea is your creativity. Make them understand that customers have a problem that has the tendency of generalizing and that your product is exactly what the market needs in order to satisfy the demands of customers.
Take your time before going into the pitch. Prepare the business plan and the pitch strategy for months in advance in order to make sure that you completely master all the details entailed in your plan. Investors have listened to so many business plans presentations that they already have an eye for details. You may lack that ability. This is why you should take your time in order to go over the statistics your research is based on several times. Never pitch without a careful analysis of the market and of the sources that indicate those market figures. Make sure that your data is precise and accurate. Because most entrepreneurs work so much at their business plan, they may no longer be objective concerning it. This is why you should rehearse your pitch in front of an audience who is encouraged to criticize the business plan and the pitch.
While the business plan is generally written in Word or Excel, your presentation should be written in Power Point because that makes it more attracting. Also, including shocking pictures at the beginning of your business plan can draw the attention of investors on the idea that is presented. Make sure that your number of slides is not too high in order to make the pitch last too long. If there are details you want to present them, you can offer each investor a personal slide which he can watch while you pitch.
Make sure to excite your audience, leave them with the idea that they want to see you again, that they want to hear more about your business idea, that you are a gifted manager with a precious business idea. This will grow their interest in your business and will convince them that they should fund your company.
Don’t get upset if your first pitch has no results. This is only normal. You should focus upon learning the lesson from the feedback provided by investors and adjusting your pitch. You will probably have to go through several pitches in order to finally obtain the needed funds for your business. Good luck!
All the best,