If you are an entrepreneur, you need to know how to market your business. Even if you don’t plan on looking for money, having a strong elevator pitch ensures that you understand your business from the inside out. This comes in handy if or when you finally decide to look for an investment.
How To Get Involved With Investors?
Creating a successful campaign starts with a comprehensive business plan. From there you can decide what makes your business worthwhile and worth investing in. You can have 5 pages of certified financial statements and an in-depth analysis of how you stand out from the competition in many industries, but you can’t cover it all.
Because, when you first have to talk to investors and angels, and VCs, you usually have about 10 minutes to make your point. Here’s how you can make sprinting a success.
1. Create A Presentation
First, take the time to add your price. The goal is to create a simple platform to get investors interested in your business. Even if your business is just like Tradekey.com.
With that in mind, you should have a short version that you can tell in 10 minutes, and an expanded version that includes everything you want potential investors to get.
You can start with free letter templates for Powerpoint and browse our gallery of over 50 different company letters. If you need help putting your sound together, check out this list of tools that can help you put together a professional presentation.
2. Practice Your Pitch
You need to adjust your tone. Not being able to talk quickly in any part of your business makes all the other tips on this list useless.
Many entrepreneurs think that just by understanding their business, they can quickly and concisely explain its value. Having a killer port with a color-changing mirror is enough to get you back in the game. So they went to the camp illegally.
Instead of saying “I only need 10 minutes of your time” when it only takes 10 minutes, you will quickly find yourself taking 20 minutes to get through 5 slides. Keep it simple, and keep only the things that build your business. Leave everything else on the cutting room floor.
3. Use A Story To Explain The Problem
Start your campaign with a compelling story. It should solve the problem you have in the market. This will attract your audience. If you have done any tests, try to enter real data here.
If you can connect your story with your audience, in this case, investors, even better. What companies have they applied to before? What were the pain points of their previous business ventures? Do some research on investors so you have a good idea of what they are thinking and can tailor your story to them.
4. Your Solution
Share what makes your product unique and how it can solve the problem you shared in the previous slide.
Keep it short, concise, and easy for investors to explain to others. Avoid buzzwords unless your investors are familiar with your company. Again, the attachment and results here give high confidence in your solution if you have done any tests beforehand.
5. Your Target Market
Don’t say that anyone in the world can be your target market, although that may be true one day.
Make sense of who you’re building for and divide your market into TAM, SAM, and SOM. Not only will this appeal to your audience, but it will help you think more clearly about your migration strategy.
If you can, try to develop your user or ideal customer when talking about your target market. This can help investors visualize where your potential customers are and show that you have thought carefully about who your business will serve. It’s also easier to have a quick conversation with someone with a name, rather than a large number.
6. Your Revenue Or Business Model
Investors are always interested in this slide. How do you make money? Make good decisions about your product and your pricing, and emphasize how your customers care about you again.
7. Your Success: First Moves And Milestones
At the beginning of your presentation, you want to build trust. Take the time to share important tracts you’ve created.
This is your chance to brag. Impress investors with what you and your team have accomplished to date (sales, contracts, key employees, product launches, etc.). You may have mentioned this at the beginning, but this is where you create your perfect business picture.
But don’t just stop what you’re doing, be sure to say where you’re going. Show them the next road map, and other milestones, and even say how the money will help achieve those goals.