If you always remember that you are not the first nor the only one coming to pitch to an investor then you will always want to prepare your pitch well. There are thousands of pitches which an investor might have seen before yours, and how you can make yours stand out is why you have to know how to use these pitch tweaks to increase your chance of getting a startup grant without meeting an expert.
An excellent pitch – one that increases your chances of getting grant – always have some qualities which many entrepreneurs think that only experts can deliver it to them. Even when you know much about your business, presenting a pitch can be a difficult task for you. Business pitch must grab the attention of investors and there are ingredients for that. I have listed 10 pitch tweaks (ingredients) here. If you can employ them, you’re going to give the kind of pitch that stands out to investors.
1. Address the Problem: One of the brilliant way to get an investor’s attention is to tell the problem that your product or service is going solve or currectly solving. Keep it simple and realistic. This will make your audience easily understand that there is really a read problem that you can/willing to solve.
2. Highlight The Market: Altering showing that there is a real problem, the next thing is to show how many people it is affecting. Unless enough people have the problem you are solving (which could be anything), it’s going to be difficult to convince investors to consider your pitch. However, when doing this, don’t exaggerate the market size.
3. Highlight the Solution: Since you don’t have all the time in the world to present your pitch. Make your solution simple. Go into details about your product and keep the description simple.
4. Introduce the Business Model: Business Model is a way to tell investors how you are going to convert your idea into economical viable. What you sell. Who you sell to. How they pay. And the price. – All these are what your business model must contain.
5. Know Your Traction: It is very important that you have traction. Traction is a proof that you have a good idea that can work. This kind of evidence, you can have if you have early customers or an interested targeted market which I have wrote how to get that using MVP Techniques.
6. Get a Marketing Strategy: Your pitch deck should also have a marketing plan. How you plan on selling your product. It is good to let investors know that you have this aspect of business in mind.
7. Talk about yourself: Most time, investors invest in people first and idea second. You have to give reasons why you and your team are the best and the right people to invest in.
8. Give a Foremost: Though any forecast is just educated guess, potential investors will want to understand your thinking on how the business will grow over time and what it’s going to take to be profitable. Be sure to include a brief summary of your sales forecast, expense forecast, and anticipated profits. Just be sure to be realistic.
9. Know the Competition: Every business has competition, so don’t make the mistake of saying that you don’t have any. Your presentation should show who your competition is and why your product is better.
10. Have a Spending Plan: If you do get investment, how will you plan on spending it? Investors don’t just write checks because you have a great pitch deck. They are going to want to know how you plan on spending their money to build your business.
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