by Helena Naitsuwe Amadhila
When pitching to potential investors, be prepared for all pitch levels such as 15 minutes, 10 minutes or 5 minutes. it's also important to be clear, concise, and compelling. Ensure that you follow these 10 basic steps:
1. Introduction: Start with a strong introduction by clearly explaining who you are, what your business does, and why it is unique or valuable.
By setting a clear introduction, you are enticing your audience to want more from you. Audience will be eager to listen to your pitch.
2. Problem: Explain the problem you are solving by identifying the market need or opportunity your business addresses.
No investor would fund a business which is individual based. Your market analysis should be clear to determine your share and sustainability in the market.
3. Solution: Present your solution by describing how your product or service solves the problem better than existing solutions.
Businesses are established to find lasting and sustainable solutions to problems and pressing societal issues. The problem you are solving should be of value and impacting many people.
4. Business model: Share your business model by explaining how your company plans to make money and achieve profitability.
Businesses exist to make money and create wealth. Investors would be thrilled to know how you would be able to pay them from the profit made by selling the products or services offered by your business. Explain the business unique value proposition that would entice customers to spend their money on your business. Indicate the point when you will break even.
5. Traction: Highlight your traction by presenting any key milestones, achievements, or customer validation you have achieved.
Show investors the activities that have taken place in the business. These can be in a form of money, research or customer feedback. This will motivate investors to see the longevity and practicality of the business you are proposing.
6. Team: Present your team by introducing the key members of your team and their relevant experience.
Having a competent, motivated and vibrant team is a big asset for the business. These are the people who will ensure that the products and services are of good quality to attract customers and investors. Explain the relevant experiences to the business that would ensure the success of the business and smooth operations. Be specific on the role of each team member and unique contribution to the business.
7. Market opportunity: Discuss your market opportunity by presenting the size and growth potential of your target market.
Knowing your market is crucial to ensure you have a share to generate income, pay expenses and make profit. Also clarify if the market is small, how do you plan to reach out to other markets to boost the revenue.
8. Financial projections: Present your financial projections by outlining your expected revenue, expenses, and projected growth.
This is the most aspect of a business. Knowing how much will be generated by the business at what point is crucial. It is also imperative to know where the money will be spent to ensure the smooth operation of the business. Investors would be curious to know at what point will the business grow to stand on its own feet and expand through growth.
9. Funding ask: Clearly state your funding ask by being specific about how much money you are seeking and how you plan to use it.
Investors would appreciate a businessperson who is clear about what the business financial need is to move forward and how that money will be used to ensure sustainability and reaming afloat during unplanned happenings.
10. Rehearse: Practice and refine your pitch by rehearsing your pitch multiple times and solicit feedback to improve its clarity and impact.
Practice makes it perfect. Practice your pitch by pitching to friend colleagues or fellow entrepreneurs. Practice will ensure you eliminate any point which is not clear. The gist of pitching is practice, reflecting, improve and continuous practice.
Remember to adapt your pitch to your audience, focus on the most pertinent points, and be prepared to answer questions and address concerns in a conscious and unambiguous manner.
Helena Naitsuwe Amadhila is a Lecturer, Entrepreneur, Network Marketer, Consultant and owner of Tommy’s Lodge in Namibia. She is passionate about entrepreneurship and education in Africa and is making progress towards shaping the future of business and learning in Namibia. In 2017 she was recognized as an Emerging Entrepreneur by the Namibian Business Hall of Fame (NBHF) for her significant contribution to the Namibian economy and employment creation. She also serves as a Vice Chairperson for the Board of Directors of the Global Entrepreneurship Network (GEN) Namibia. Helena is empowered to empower others through entrepreneurial training, networking activities and events. Contact Helena via email: Email: hnamadhila@gmail.com
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