Whether you are seeking equity finance to get your company off the ground or require follow-on funding to grow your business further in your respective market, preparing the perfect pitch is an essential step to getting the financial assistance you need.
But what really makes your pitch perfect? We reveal the top tips every entrepreneur should utilise to get the funding and business support they need to take their venture to the very next level.
Know your customer
Having a comprehensive understanding of your target market and core demographic is the basis of any good pitch, and businesses seeking investment are urged to go above and beyond in their research. Take time to prepare market research and explore every avenue to get to know your market inside out, after all if you don’t and your competitors do you will inevitably miss out on sales.
Research your investment panel
As well as knowing your market and customer, delve deeper into the history behind your potential investors. Getting familiar with their backgrounds will ensure you can gain an understanding of what makes them tick and exactly what factors make them part with their cash. Align your potential investors’ wants and needs with your own business objectives to ensure they sit and listen to everything you have to say.
Be the answer to a problem
All the best businesses create a solution to a problem encountered by their customers, however convincing your panel of investors that you have the answer or can deliver a better solution than your competitors is easier said than done.
Every entrepreneur is convinced that their venture is a billion pound idea, however, answering this single question during your pitch is all that counts. Be sure to clearly and concisely address what problem you are trying to solve and backup your solution with hard facts and research.
Make them invest in ‘you’
In addition to defining your business model, it is important to understand that the panel isn’t just investing in your business, they are also investing in you and your team. Tell the story of how your company came about, demonstrating your passion and enthusiasm every step of the way.
Practice makes perfect
So you’ve got the fundamentals of your pitch sorted, what now? As you may have heard, practice makes perfect, after all investors don’t want to be greeted with a crumbling mess during the pitching process. Delivering a self-assured and well-researched pitch will reassure your potential investors that their money is in the right hands.
About the Author
The author of this post is Tony Earnshaw, an entrepreneur who established UK Commercial Cleaning in 2007. Since then the company has evolved from a small cleaning firm into a national organisation and is now the UK’s foremost commercial cleaning contractors.