Uploaded on Jan 27, 2023
PPT on how to pitch a business idea
How to pitch a business idea?
How to pitch a business idea? You need to be knowledgeable With your business idea in mind, it's time to sit down and learn. You need a thorough understanding of the industry you want to be part of. If you don't know what you're talking about, no one will want to invest in your idea. Source: www.inc.com Describe your product and services Try not to focus on the idea of your business too much. Many people who are starting a business get so wrapped up in the idea of the business that they fail to talk about the product and services the business will provide. Source: www.inc.com Discuss how you intend to attract customers You need a good strategy to attract customers. Regardless of how good your business idea is, investors won't support you if you don't have a compelling way of making your business desirable to the public. Source: www.inc.com Prepare a compelling visual presentation Humans are visual creatures. So don't just tell your investors what your business is or how they'll profit from it, show them. There are many tools to create a visual aid to go with your pitch. You could use a PowerPoint presentation or an online platform. Source: www.inc.com Manage your time well You should not spend too much time pitching your idea. Thirty minutes should be more than enough time for the pitch. Before asking for a meeting with potential investors, condense your information to fit in that time frame; be brief, but comprehensive. Source: www.inc.com Know Who You’re Pitching Some entrepreneurs try to get in front of every investor, despite their industry expertise or firm’s investment stage. You need to consider that, when you accept an investment, it’s about more than money; you enter into a partnership. Source: online.hbs.edu Consider How You’re Presenting Yourself, Not Simply Your Idea Although your ideas and skills matter, your personality is equally as important. According to research published in the Harvard Business Review, venture capitalists’ interest in a startup “was driven less by judgments that the founder was competent than by perceptions about character and trustworthiness.” Source: online.hbs.edu Tell a Story When describing your business idea, zero in on the problem you’re addressing and how you’re solving it better than the competition. You could do this by presenting a real-life scenario in which you describe the pain point a current or prospective customer faced and how your product or service fixed the issue. Source: online.hbs.edu Show the Roadmap Although you’re in the early stages of your business, investors want to know how they’ll cash out in the end. To clinch your pitch, highlight your exit strategy and the options available. Source: online.hbs.edu THANK YOU
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