TIPS FOR BUSINESS PITCH BY @ubongudofot

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Greetings to all active Entrepreneurs !!

From trying too hard to over-impress to not trying to impress at all, it is sad – almost shameful indeed – that many intending entrepreneurs have no idea what it takes to properly pitch business ideas to an intending investor.
I got to know that an investor recently offered, via his social media handle, to invest a huge amount of money in various small businesses, guess what he did? he asked his followers to send their business pitches to him. Trust me, you don’t want to see the quality of business pitches he received, it was huge.

It occurred to me then that users could do with a little help on what a business pitch should look like. I mean, you don’t need to attend a business school to be able to pitch. I think of it as the one-minute debates we used to have back in schools where you were trying to convince the audience to agree with your point of view, in a 1- 2 minutes presentation.
That is why in this publication, I want to share to all my beloved colleagues a few tips in which they can keep in mind when next they want to do a business pitch, please follow along as I state these few points to note.

In this publication, I will talk about tips like :

• Tell your business story

• Know your numbers

• Know your USP(unique selling proposition)

• Timing is key

• Demonstrate some business acumen

TELL YOUR BUSINESS STORY

One thing you need to know is that in every business you see or business idea you see, there is a story behind it. Take for example: For @ubongudofot who owns GAUJGLOBAL his business idea could be traced to the point he needed money to solve a very important pressing need, but unfortunately lost the opportunity because there was no available cash to settle that. Because of this, he was motivated to start a little business with the little skill he has.
For Henry to go into the electrical field and end up selling electricals, his idea was traced to when their family building caught burn due to bad electrical wiring as a result of the low service money they paid the electrician, the family house was burnt down. He went into learning electrical and end up selling electricals in his village as no one was doing such business.

You have a story behind the idea of you joining the steemit platform, so why not tell it. For me, it was my sister @eliany who always encouraged me due to my lacking finances all the time.
Trust me, I have a lot to list in other words I can go on and on, but I will stop here by the way.

It will interest you to know that business ideas most times are inspired by an experience, the need to solve a problem, or a personal burden to make life easier for others. So as an entrepreneur, ensure to tell your own story in your pitch, yeah, you need to make it real. Because that will inspire others a lot.

KNOW YOUR NUMBERS

It is okay that you are out to solve a problem and you have carefully narrated the story behind it. But how can funds be generated from this? Unless you want to start a non-profit organization, there has to be a way your product or services will bring in money to sustain the business if not, it will collapse.
To Know your numbers means that you should be able to explain to a potential investor that every 100 steem invested in production or service delivery, will deliver about 300 to 400 steems in profits every month for the first 5 months, and 700 steem in profits for 7 months after.

Note: The above is just an example of this explanation.

Most times when we go out For steemit promotion, it is good that we know some questions that might likely come from investors. That means good preparation is needed on our part.

KNOW YOUR USP(UNIQUE SELLING PROPOSITION)

It is important that you know, and also tell the investor that what you will be offering is different from what is available in the market already. Tell the investor why you think you are in the best position to solve the problem and customers will be very much willing to pay or subscribe for the solution you are bringing to the public.

TIMING IS KEY

It always feels like there is so much to say, but you must try to dish out this information as aptly and in the shortest time possible. Don’t flow long according to how it becomes interesting to you, others might not enjoy it as such. So Keep it Short and Simple. For practice purposes, try capturing all of this information in 60 seconds or less. Practice before a presentation isn’t bad, it will only help become perfect in your advertising/ marketing strategy.

Source

If you start right, you will get the investor’s attention but you must conclude before it gets too long and begins to bore your listeners. Remember what they say about taking a bow when the ovation is loudest?

DEMONSTRATE SOME BUSINESS ACUMEN

While you want your listeners / potential investors to know that you are professional in the field where you want to solve a problem, you also need them to see that you possess business acumen, you need to be sharp in your perception. Why? You may need to be a professional to solve a problem in a field, but you need a good entrepreneur acumen to make a successful business out of it.

CONCLUSION

To succeed as an entrepreneur each and every one of us needs to consider those pitches I mentioned above. And if you have other ideas, please feel free to share them in the comment section. It could just be exactly what some entrepreneurs somewhere need to grow in their business. Feel free to re-steem this post as well.

Let's Grow together as Entrepreneurs

Special mention:
@steempreneurship
@harferri
@stephenkendal
@tucsond
@sofian88
@pennsif
@f2i5
@akmal1

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