We all know what it’s like to pitch investors and get funding. Sometimes you only get 5 to 10 minutes of time to pitch your product. So you have to make sure pitch is well prepares with simple and logical explanations within given time.
Let’s get a deep look into the investors mind and understand what exactly they think to find you as potential. The story you tell about your idea, team and logical validations is what ultimately gets you the funding.
Few points every entrepreneur should keep in mind while preparing pitch
1. Tell your story – Keep it simple
Begin your pitch with your experience and some of your skills. This should sound interesting and relate your story with the audience. Blow your own horn. Impress the investors with your past accomplishments.
2. Problem and Solution
State the problem first and share what is unique about your product. How your product is going to solve the problem is the main agenda. Keep it short and simple to make investors understand.
3. Targeted Market – Opportunities
Be realistic and honest to whom your are building this product and how it helps them. Explain the opportunities to take product into market and number of opportunities you have got to take it to next level.
4. Customer Acquisition
How will you reach your targeted customers? What is your product price? Is this price competitive in market? How to overcome competitors?
All this you have to keep in mind with effective imaginary pitch. You have to make investors imagine about this scenario, which gives them confidence on you and your product.
5. Revenue model
Main thing investors care about is how you make money from this product. Be very logical and aggressive while explaining about your product and pricing and make them understand how much potential and passionate you are to perform all this process and make it grand success.
6. Your Team
Share details about what kind of team you’ve got and who else are missing and how this funding helps you to get the right talent. Most of the businesses miss some key talent, may be in Marketing, Sales, Design, Development, Operations, Legal, Support etc. Explain them the idea of your’s to hire such talent to lead your business.
7. Legal and Media
Are you aware of the market risks such as copyrights, idea, legal compliance of your product? How efficiently you can handle such situations and overcome such if any arrives in future?
And knowledge about how you manages your accounts, IT returns and managing shareholders etc things is an additional advantage to impress the investors.
8. Exit strategy
If you are looking for large amount of funding then investors might want to know what is your exit strategy. For example how you get acquired, going public limited, adding extra directors and how much investors will get return after exit etc. Show them that you have knowledge about all this to get funding.
Keeping all this framework in mind, prepare your pitch that helps you to impress the investors and get funding as potentially successful startup.