Once you have decided your business idea and crafted your business plan, the nest thing you need is funding to turn your business idea into reality. When you know that your 10-to-20-minute pitch to potential investors is the way to secure funds, it’s obvious to feel nervous. In other words, it’s a stressed-packed moment, and you need to give your best.
Now the question is how to eliminate your anxiety and impress potential investors with a successful pitch? Let’s find out with famous leader Lameen Witter.
Tell a Story
Narrating a common subject among experts in a creative way is a great idea and it always works. Although facts and figures go a long way, it’s significant to use those numbers to convey a meaningful story. Highlighting your business idea as a story also helps you express your passion for your business.
In a tough competition, you need to give investors a reason to be keen about working with you so they invest in your business plan with confidence. “Show them why you’re working for this project, not just how. Express them why you’re motivated to find a solution to the problem and gain maximum chance to win them.
Define The Problem
You might be very eager regarding your business concept. Your samples for the product are all stellar and you’re excited about your business plan. And, if your product doesn’t solve a problem or capable enough to satisfy customers need, remember, investors, aren’t going to be a part of your project.
According to expert storyteller Lameen Witter, you should “Start off with the problem first. “Do you what customer is seeking in the market today? Do you have the proofs to back that up?”
You must prepare yourself to answer these questions when conducting a meeting with investors. With the help of deep market research including customer surveys and interviews can show if your product is in demand. In case you lack the facts to prove that your idea speaks about a problem, it’s hard to engage the audience and even harder to get funding from investors.
At the time of practicing the pitch is a must, however, seldom your pitch will go exactly as planned. Indeed. Having realistic expectations while preparing will help you to build confidence. According to experts, it is necessary to prepare for a realistic presentation experience.
It is very common when leaders and experts’ advice to you ‘practice your pitch‘, but most time it happens that investors stop you few times during your presentation to ask for an explanation or to offer their input. If you practice your presentation in a smooth, uninterrupted flow, it can make your presentation game weak. Therefore, practicing with interruptions is much more real to life.
In addition to expecting interruptions, it’s imperative to view the presentation from the audience’s perspective as well.
So these are the best tips to pitch a successful business idea to investors from the expert storyteller and leader Lameen Witter.