Don't Make These 4 Mistakes While Pitching
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Pitching your business idea to investors for funding could be both – a pleasant experience and a learning, or a horrible one filled with negativity. It solely depends on you and how you present it.
Pitching to wrong investor
Not all investors are interested in all sectors. Look for a VC who is interested in your sector. It’s always better to have a product ready to show instead of slides. But if you don’t have a product to show, don’t fret.
Give a 2-3 pages summary (not a 50-page document) and a visual power point deck to review. Be concise, explain the need in the market and show him how to scale up. Sorted!
Shy demeanor, hesitant walk
Walk brisk and open confidently - anything else than this means you are not prepared to present your business to the investor and he might not take you seriously. Do not slouch, sit up and pay attention. Do not take forever to answer a question, get to the point fast. Answer quickly and stop. Let the next question flow. It says a lot about you and could make you a winner.
Fumbling and frantic pitch
Know your facts and figures. There cannot be any other way. You are supposed to be the domain expert and know everything regarding your business. If you don't know the basics – like your revenue projection or what you are going to do with the investor's money, you are in deep trouble. You should know who is your customer and the need you are addressing in the market.
Dress up right
Unless you are dealing in beach wear, do not show up in flip flops or shorts. Dress up in formals and wear something that makes you feel good about yourself. Do not use excessive, overpowering perfume or heavy jewellery. You want the investor to focus on your business, not on your accessories.