No matter how innovative, incredible and developed a big business idea may be, the mere thought of pitching it to notable investors has the power to strike fear into even the bravest among us. Afterall, the right investor can make or break your business.
Are your palms sweaty yet? Well, don't worry because we have a few top tips for pitching your big business ideas to potential investors.
Prepare yourself and your idea
In large, angel investors plough their funds into the entrepreneur first, rather than the idea or business plan. So, it's critical that you and your potential investor can get along. The people you're pitching your business idea to will want to see that you are fast off the mark, thoughtful, efficient, and will be able to sustain the project through its conception and growth. Ensure you show this in your preparation and let your personal qualities shine through.
Showcase the most important details
Startup investors are far more concerned about the presentation than the business plan. Make sure that in less than five minutes, you can outline the project, explain the return on investment and pinpoint a solid growth strategy. If you can't you need to edit your pitch until you can - it's that easy.
Come out of the blocks with an exit strategy
Investors are very interested in your exit strategy. It's a known fact that a huge proportion of investors get itchy feet after around seven years with a company and scout around for new opportunities. So what's your exit strategy? Are you going to sell up your shares to a new go-getter? Will you go public with the business? Will you sell to venture capitalists? Or, will your franchise? Think about this from the outset and take it to your pitch - you'll need it.
Research the investors
Before any big funding pitch, you should find out as much as you can about your potential investors. Who has he or she invested in before? Have they been successful in your industry? How well do they operate? How much time might they devote to you and your idea? What are their personal interests? What have their career highlights been? Find out this information as it will be magic during your big pitch.
I hope these tips will help you get the funding you need to unleash your big business idea onto the world and to offer a little more help with your preparations - best of luck.