It is an understood fact that your bootstrapped startup needs more funding to scale up and stay afloat. Funding is crucial for business growth and to add newer product operations to the existing category. So now that your startup is ready to gear up and make the leap, are you all prepared to pitch to the set of investors? Do you understand what it takes to sell it to the investors and convince them or give them the confidence that they seek? Here are few tips to beat the stress of pitching. Read on.
- High focus: Your time with the investors is the most crucial one and it is indeed no less than money. So be precise and articulate. You must be able to talk only what is required and wrap it up before the scheduled time. If you have ten minutes then by the ninth minute you must be done with what you want to convey in large. If you take a lot of time to communicate your idea, then practice talking what is expected.
- Exact is the word: You must tell what exactly your product or service is, what problem it resolves and how the money will flow. Essentially you will portray your business and revenue model along with the scope of growth. You must also explain about your target audience is and your basic strategy to reach them.
- Talk about your team and note the tone: When you pitch the idea, you also must highlight the capability of your team to deliver what is being promised. Nothing is more important in determining the right tone for your audience. Be creative. Avoid a dry, mind-numbing presentation. Always gauge your audience and play to them. At the end of the day, content is king when it comes to a deck. Layer in creativity with great content, show some personality and you will have a winning combination.
- Financial projections: Even though this is not a factor that is considered in great detail, you must make an effort and collaborate some good well-thought projections that covers not only the finance but also the market of the startup.
- Practice: You must be to the point and full of information when you pitch your startup idea. Taking a stand and talking in front of a panel full of investors might be apprehensive. Hence, practice it over and over till you are sure about what you wish to communicate.
Let your head and heart function together. Bring out the passion and the zeal that you have to showcase every effort that you have put in for your startup to be a success.
— Team SoS