Sometimes, in business, we may have a very brilliant idea that we know will be successful. But the problem is, we don’t have the resources and funds.
The only way you can start the business is to pitch to investors that can help you with the financial fence, so you can be equipped with everything you need to start it.
By the way, if you have heard of the term “elevator pitch”, this is exactly the essence of that term. Imagine, being in an elevator where a well-known celebrity or personality steps in, you can strike a conversation that can only last as long as the duration of the elevator ride.
During that short span of time, you should be able to spill your pitch and make the potential investor say yes.
Here are some tips to remember when making your pitch.
Know how much you need.
Pitching an idea and saying “I don’t know how much we need, I can get back to you on that one.” Will make you seem not ready. You may just lose that once in a lifetime chance if you don’t impress the investor right away.
Prepare your business plan.
A business without a business plan is just an idea. Your potential investor may have listened to numerous proposals and he doesn’t need to hear a business proposal that is not well-thought of.
Research about them.
The same way as you have to properly research your business, you also have to make sure you have researched about your potential. You have to know certain things about them that will make them say yes. There may also be a chance wherein they ask you something about them and it will.
Set the meeting.
When you do get a meeting date, make sure you arrive on time and ready. Prepare your business plan and everything that you think may be needed. You also have to be ready for more questions. Don’t worry, if you have thought about your business well, you will be able to answer the questions.