Key Tips For Preparing A Successful Entrepreneurial Pitch

Key Tips For Preparing A Successful Entrepreneurial Pitch: Here’s The Pitch

One of the hardest presentations to make is the entrepreneurial pitch. You have a great idea for a business and you want someone to give you money to make it happen. The problem is that venture capitalists, angel investors, and even rich uncles are heavily predisposed against you. Why? Because 99% of the pitches they hear sound like sure-fire prescriptions to lose money!

Key Tips For Preparing A Successful Entrepreneurial Pitch: 10 Tips That You Will Need For The Pitch

If you are pitching investors to give you money for a new venture, you should subscribe to the following rules:

Key Tips For Preparing A Successful Entrepreneurial PitchKey Tips For Preparing A Successful Entrepreneurial Pitch Tip: 1 – Explain Exactly What Your Business Is Within The First Thirty Seconds

Many entrepreneurs waste valuable time giving loads of data, background and other info—all the while investors are left scratching their heads thinking “What does this business actually DO?”

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 2 – Determine your Audience

Tell your audience who your customers will be. Paint a vivid, specific picture of these people.

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 3 – Tune Into WIIFM

Explain why your customers going to give you there hard-earned money.

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 4 – Know Your Competitors

Explain who your competitors are. (And if you say you have no competitors, that is a certain sign you are unsophisticated and deserve no investment money!)

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 5 – Build Their Confidence

Explain why you are the ONE to make this happen.

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 6 – Share Your Enthusiasm

Give your presentation with confidence and enthusiasm. Investors want a founder/CEO to be a chief salesperson; they want to see that you can convince the world of your dream—not just them.

Key Tips For Preparing A Successful Entrepreneurial PitchKey Tips For Preparing A Successful Entrepreneurial Pitch Tip: 7 – Describe Your Team/Partners

Explain what star you can hitch a ride to. Has Best Buy or Radio Shack agreed to distribute your new product? Investors feel much more comfortable knowing you have an established player willing to distribute your wares.

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 8 – The Ask

Ask for a specific amount of money. If all you do is ask for money, then you can’t complain if an investor gives you $3.25 for a cup of Starbucks coffee.

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 9 – How Are You Going To Use The Money

Tell prospects exactly what you are going to spend the money on (hint:a trip to Maui for you and your friends will not impress)

Key Tips For Preparing A Successful Entrepreneurial Pitch Tip: 10 – Be Confident, Not Desperate

Dress well, act confident, and put on the air that you don’t really need their money, but would be willing to accept it if they bring enough to the table to be a strategic partner for you. Sad but true regarding human nature, but people are much more likely to give you money if they feel you don’t really need it.

Key Tips For Preparing A Successful Entrepreneurial Pitch: How Do I Come Off As I Don’t Need Money

First thing is that you want to present an opportunity and show others how it would benefit them. Also make sure to ask before you really need the money.

Finally, make each pitch presentation serve as a focus group for your next presentation. When one group of investors asks you a series of questions after you pitch, write down all of those questions and make sure most of them are answered in your next pitch so that the next group doesn’t have to ask them. Keep pitching and keep improving your pitch and eventually you may get funded.
Now you know the Key Tips For Preparing A Successful Entrepreneurial Pitch. If you would like to learn more or gain further guidance click one of the pictures in the post for more info.

 

 

Take Care And God Bless

Greg “Da Spokesman” Stargell

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Key Tips For Preparing A Successful Entrepreneurial Pitch

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