It’s said that “one man’s problem is another man’s opportunity.” Nothing truer has ever been said about entrepreneurs and startups. Everything begins with a problem and then the magic happens. But getting your startup up and running is not without its challenges. One thing that pulls the brakes on startups is $$$. Attracting investors is a must and so you need to perfect your pitch and get that bag!
1. The visuals
Whether it’s online or in a physical space, you need to prepare a presentation. That’s a given; I hope you know that! The visuals are an essential part of the presentation. It’s the first thing your investors see, they see your company’s identity, the name, logo, colors, fonts, and style. All these things determine who you are and make you memorable. So, it’s essential not to ignore such details.
2. Address the problem
Asking for money is a sensitive topic for many, even when they want it from investors. That’s why it’s important to give them a reason to trust you. Investors are not part of whatever industry you’re in. So, there’s a considerable chance they don’t understand your bright idea without understanding the situation around it.
So, show them the problem, show them what they’re missing, and then show them what you’ve got. Something you should remember is that investors don’t care about your feelings or the emotion have toward your idea. They care about facts, numbers, and strategy, so don’t expect them to invest in your idea because you’re passionate about what you’re doing, this only happens in movies!
3. Give a solution
Now that you have enlightened them about another problem in the world, it’s time to show them what you’ve got. Don’t over-explain and use technical or complex jargon. Remember that your audience is not necessarily familiar with the industry. Explain your solution and what you bring to the table as easily as you do when introducing the problem. If you’re addressing a problem that already has a solution, you should have something that distinguishes you. No one is gonna invest in something that already exists and that’s also successful. Be original!
4. Viable market
Not all businesses go big, some just go home. This is why you should really know your market, your competitors, what is it lacking, and what can you provide? These are also the points you should highlight to your investors. Show them that your market is not stagnating but growing. Hence, figures are an asset.
Unless you’re pitching to angel investors, VCs will need to know where you are at the moment. Show them what you’ve achieved and what you’ve accomplished so far. Facts, figures, and milestones. This is what you need to showcase to prove that you’ve got momentum.
6. Business model
Of course, all of this would be for nothing if you don’t have a solid business model. Explain your business model, your way of thinking, talk about the industry you’re in and how you can monetize on it. Don’t daydream, by that I mean you shouldn’t just talk about forecasting because in business, there’s no place for illusions, just fixed reality.
These are just a few tips that could help you grow your business. So, here’s to more fintech and other startups, you make our lives better!