You may think that a good idea costs nothing, but when it comes to business world, turning a great idea into some successful undertaking costs money. In most cases to pitch the idea to the investors and to procure the necessary means for business development is much more difficult than to get funding from OnlinePaydayAdvanceLoan service.
The process can be rather exhausting, but we are ready to share the advice from those who may write the checks out as well as from those who have cashed them already.
The founders of Bespoke Post managed to raise $800,000 over five months, the investors who had witnessed many pitch meetings mentioned the clear presentation as a decisive moment for them. When people know what they are talking about it always evokes credibility.
For the entrepreneur it’s important to show likability and flexibility as well, as nobody is eager to cooperate with a difficult partner even with a great business idea. At the initial stage, you’d better be modest and show your character after some results have become obvious already.
Proper presentation does not mean persuasive speech alone, but a proper and clear business model to demonstrate.
Look for the investors after your business is solid already.
Bespoke Post is known as a web-based subscription service created for men. Before looking for funding, the founders of it did everything themselves for about half a year. They admit, they did not think about investments, but wanted to study the market and build a business.
As soon as the customer’s base became solid, they were ready to demonstrate the feasibility of the company. Even though about 50% of businesses fail in the first 5 years, the investors believe Bespoke Post will prosper much longer, as the membership of the company increased from a few thousand members to 5-figure membership in less than a year already.
Top 10 Secrets to a Successful Presentation and Gaining Means from Investors.
Even before starting sharing the tips the founders of Bespoke Post, Bulluck, Minnihan and Prabhu, underlined the importance of the clear understanding of all business aspects and advised to be prepared to be given the third degree.
So the 10 most important tips for a winning pitch presenting:
1. Get the profound understanding of the market and the place your company may fit in.
2. Work out a sound strategy for gaining clients and estimate the costs.
3. Find out the customer preservation rate.
4. Formulate why you need investments.
5. Present a clear plan of how you are going to spend the means got.
6. Create a team with defined roles, experienced and trustworthy.
7. Define a solid focus of your business activity: Less is more.
8. Support the conversational atmosphere at the meeting.
9. Attitude matters: be easygoing and demonstrate a strong business ethics.
10. Show flexibility towards changes; start-up is always a fluid process.