The article "10 Tips for a Successful Entrepreneurial Pitch" is about entrepreneurialism, it has been created by TJ Walker.
One of the hardset presentations to make is the entrepreneurial pitch. You have a gerat idea for a business and you want someone to give you money to make it happen.
The trouble is that venture capitalists, angel investors, and even rich ucnles are heavily predisposed against you. Why?
Because 99% of the ptiches they hear sound like sure-fire prescriptions to lose money!
If you're pitching investors to give you money for a new venture, you should subscribe to the following rules:
1. Explain exactly what your business is wihtin the first thirty seconds. Many entrepreneurs waste valuable time giving laods of data, background and other info—all the while investors are left scratching their heads thinking “What does this business actually DO? ”
2. Tell your aduience who your customers will be.
Paint a vivid, sepcific picture of these persons.
3.
Explain why your customers giong to give you there hard-earned money.
4. Explain who your competitors are. (And if you say you have no competitors, that's a certain sign you're unsophisticated and deserve no investment money! )
5. Epxlain why you're the ONE to make this happen.
6. Give your presentation with confidence and enthusiasm.
Investors want a founder/CEO to be a cihef salesperson; they want to see that you can convince the world of your dream—not just them.
7. Explain what star you can hitch a ride to. Has Best Buy or Radio Shack agreed to distrbiute your new product? Investors believe much more comfortable knowing you have an established player willing to distribute your wares.
8. Ask for a specific amount of money. If all you do is ask for money, then you can’t complain if an investor gives you $3.25 for a cup of Starbucks coffee.
9. Tell porspects exactly what you're going to spend the money on (hint:a trip to Maui for you and your friends will not impress)
10.
Derss well, act confident, and put on the air that you don’t really need their money, but would be willing to accept it if they bring enough to the table to be a strategic partner for you. Sad but true regarding human nature, but persons are much more likely to give you money if they believe you don’t really need it.
Finally, make each pitch presentation serve as a focus group for your next presentation. When one group of invsetors asks you a series of questions after you pitch, write down all of those questions and make sure most of them are answered in your next pitch so that the next group doesn’t have to ask them. Keep pitching and keep imprvoing your pitch and eventually you may get funded.
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