In a perfect world, you would have everything that you need for your business at your disposal. Well, too bad that the world isn’t an ideal place. While you might have small business ideas, capital might prove to be one of your most significant problems. Thanks to venture capitalists, you can bring your ideas to life. However, just like any other investor, venture capitalists will be quite choosy on what to invest. Although your idea might be the next big thing, your pitch will determine whether you land a good deal or not. Here are three tips to increase the probability of your pitch landing their support.
Know your venture capitalists.
It is always a grand strategy to get to know your venture capitalist before you meet. Try to find out what makes them itch and tick, and work it into the introduction of your pitch. Knowing your venture capitalists will ensure that you have their undivided attention from the start of the pitch to the end. Furthermore, make sure that you do your research on the amount of cash that your potential investor is willing to offer.
- Be confident about your ideas.
A pitch is not good enough to get the advice on your project ideas. The venture capitalists expect that you already have a well laid down business plan. As a result, do not ask questions like, “what do you think?” This is a sign that you are looking for their approval. Use a confident approach when dealing with the pitch to portray to them that you are confident enough about your idea.
Simplify your presentation.
It is typical for people to use big words in their pitch since they are common industry terms. However, your venture capitalist might fail to understand your pitch if you saturate your pitch with the industry lingo. Furthermore, they might have specialized in a completely different field from yours. Simplify the pitch as much as you can to the point that you can explain the idea to a person working in a different profession.
Don’t expect an immediate response.
A venture capitalist will typically say, “No” to at least 95% of the proposals which they receive on a daily basis. In case they feel that your pitch is not worth the investment, you will get your answer sooner than you can finish the pitch. On the flip side, getting approval might take some time. Instead of pressuring them into saying ‘no,’ be patient enough. After all, all you need is one approval.
— awedity creative (@awedity) 3 de febrero de 2018
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