Tips on how to pitch for investment in your business

Entrepreneurs do not get the opportunity to meet with investors (venture capitalists,angel investors…) very often, it is therefore important to deliver an unforgettable pitch any time such opportunities come.

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Here are a few tips to help you along the way

– Keep your pitch short ,sweet and simple,use an elevator pitch as a guide (read here https://biznessvirgins.blogspot.com.ng/2016/10/elevator-pitch.html ),make sure you clearly identify the market opportunity and how you are building a business around it.
-Show that the viability of the business has been tested and translated into a functional business. Inspire confidence in your business with facts,if any assumptions are stated,be sure to support them based on what others in the industry are doing.
-Know your audience, do a profile search on the investors you are meeting with ;especially when you are meeting with a number of them, profiling lets you know which one on the panel is the best fit for your business.
-Know your business and practice your pitch. Practice your pitch in front of the mirror or with people around,this will help you stay within the allocated time. It is even more important to know your business and industry well so that when questions are asked on any aspect of the business ,you can answer confidently.
-Make sure your pitch projects you as being financially responsible and capable of managing the business successfully, avoid unnecessarily large salaries and financial perks.
– Define an exit strategy for the investor ; most investors look to moving on from your business after a few years,show them that outside revenue,your business is able to build value within than can be substantially monetized when they decide to move on .
– Make responsible and realistic projections ,healthy projections let the investors see the bigger picture, however, it should be based on the past and current performance of the business as well as other relevant factors. Projections should be well thought out and defendable.
– Get feedback ; whether or not the pitch goes in your favor. If you get through ,find out what the next evaluation stage entails,if not, try to understand why, also ask to know if it is fine to keep them updated on your business.

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