When you are an entrepreneur or a startup looking to get funding for your business a pitch becomes the single most important thing that could either make or break your business success. As for any business to survive or sustain it needs funding and to get that you need to have a funding pitch that conveys your business/ idea and how you are planning to implement these ideas into practice.
Every entrepreneur thinks that they know their business inside out but while pitching the story to the investors they end up fumbling and making a mess and wasting investor’s precious time. Nothing can be more frustrating for the investor than wasting his time listening to a person without a plan.
Prashant Agarwal, Founder, Horses Stable explains 5 things to keep in mind while cracking a funding pitch:
Be prepared
Make a presentation, rehearse your pitch and be prepared for all the possible questions that can be asked by the investors.
Keep it Simple
Don’t take too much time. Keep your pitch simple and to the point, as the investors don’t have full day to waste listening to your pitch. So keep it short and simple and to the point.
Tell a story
Don’t just pitch your idea by showing spreadsheet, valuation and numbers, as the investors may get bored. Instead tell them a story as to what you can offer, plans, goals for the next five years and tell your story with confidence and conviction. So that at the end of it, you can get the funding you are looking for.
Explain your USB
Tell the investors what is unique about your product/service. What makes you different from your competitors and why they should invest in your business/idea?
Explain your revenue model
Lastly explain your revenue model to the investors. Investors invest their money because they want to make a return on their investment. So be specific about which type of revenue model you intend to apply.