Pitch Day: 5 tips not to scare off Investors
Some entrepreneurs don't know that they are actually holding up this sign that says "Do not invest in my idea" 😮
So here are 5 tips to avoid:
[DISCLAIMER⛔] This is staight talk so sensitive entrepreneurs should avoid reading 😥
(1) Be prepared to support any claims💪🏽💪🏽:
Wild claims and crazy guarantees about your business and ridiculous financial projections in your pitch makes you look like Bernie Madoff, plus the experts see right through it. Cut it out! . (2) Be passionate about your business 🔥🔥:
This is not the time to be passive about the business idea or the potential benefit to customers. Also you can't have a low energy day, drink a redbull! (3) Be prepared with your numbers 💰📈:
So you are talking to potential investors about funding and you don't have a handle on the current financial affairs of your business (expenses, costs of operations, future financial strategy etc.)? You are scaring the investors at this point 😏, Pack up your presentation and go home! (4) Be knowledgeable about your potential customers 🧕🧔👱♂️👱🏾♀️👦🏾:
So you pitch the idea but you don't know who your customers are and you can't talk in depth about your target market? Unless you are selling water in hell, you have lost everyone!
(5) Be ready with a qualified team👨🏽💼👨🏼💼👩🏾💼👩🔧:
So you are planning to show up to investors with no experienced professional? You better take on an expert in whatever area you are weakest (financial, investing, business, etc.) If you don't take a qualified team member with you, make sure you have rehearsed strategy and key numbers with them in advance.