GET FINANCES WITH THE PERFECT PROPOSAL
How to Deliver the Perfect Presentation to Get Funding
Securing investment for a new venture is always a leap most entrepreneurs find as a daunting task to accomplish. It involves circulating word around about your idea, connecting with potential/prospective investors, pitching your idea and getting to defend it frequently from people with much more experience in your industry.
A person may have an idea or ideas for viable new businesses that you feel and believe will cause ripples in the industry and beyond, you have checked out your prospects, assembled a team and drawn up a business plan and are ready to move to the next step; but lack of finances gets in your way.
Getting potential investors to get involved in your new venture is the most difficult phase of business creation that entrepreneurs face. This is because the investors view new ventures or start- ups as very risky opportunities to put their money into, no matter how promising they may seem. How you present your pitch to the investors and in the right way plays a very big role in whether you are going to acquire the much needed finances or not. This is where the “KISS” principle strategy comes in.
“KISS” principle or as it is commonly referred to as “keep it simple stupid” is whereby an entrepreneur develops a clear, precise, specific and accurate plan that is easy for the investors to understand and even share with their friends. Moreover, the pitch should also be easy for the entrepreneur and his team to comprehend and answer any questions that the potential investors ask them.
Describe your main business focus; this means giving a comprehensive description on what your business is about, how it will create value for the customers, how it will create value for the investors and more importantly, is your business environmental friendly. This information helps the investors to evaluate their levels of risk if they decide to invest in your idea and also shows them that you are well informed about the business and industry.
Furthermore, do a research on your potential investors to see whether they have invested in similar projects. By doing this you will learn whether the investors understand your sector or have experience by owning companies in similar business or industry that you are pitching for. In addition your pitch will be tailored towards people interested in your industry and this is an added advantage for you and your team.
Attention to detail is also another very important point to note. Days before your presentation, go over and over everything you have in writing, be it a claim, statistics, projections in your business plan, your target markets, competition, how you are going to enter the market and defend your market share. Commit all this into memory. By doing this, you will gain confidence to present excellently and answer any questions put forward to you by potential investors regarding your business idea and the industry you want to enter.
Always remain focused. You can practice your pitch in front of friends and colleagues who will tell you what you need and ought to know rather than what you want to hear. Issues such as how to improve your customers, why people will want to buy your product or service, are important topics to know about as they will help you remain focused when presenting your pitch.
How you dress is always very important. Remember, first impressions always last and a picture is always worth a thousand words. Dressing well and being on time helps you build early rapport with the investors.
Listening is another important point to remember. As you move along in your presentation, pay attention to the reaction of your audience, and take time to answer any questions that they may have. This creates the impression that you are well versed in your business and industry which is what you want the investors to know. In addition you can vary your presentation to focus on areas that seem to interest them.
Copyright Denis Mathenge 2012