Getting prospective investments to invest in your billion-dollar business idea, convincing clients to embrace a new Idea or even solicit for sales or funds can be very challenging. These can be due to lots of factors but with emphasis on the major which is poor pitching of ideas and A lack of a thorough business plan.
What is then a business pitch? A business pitch is a concise persuasive overview of your business, services or product that intriguing enough for investors buy your ideas, dish out funds or become partners etc., it can be in form of an elevator pitch which is usually no longer than a minute, as pitch presentation or even as a page-summary of your business.
Key performance Indicators for a successful business pitch
A good business pitch should have answers the following questions
What is the value preposition? As an entrepreneur you should confidently tell your investors what problem is your business wants to solve and what how to intent to solve it. What are you bringing on board that is unique, what are the distinguishing factors from competitors etc.?
the opportunity value: Here it is very important to bring to the knowledge your potential investors what is in for them, what percentage of the profit will be allocated to them and in what ratio, how long they have to wait before the will start receiving the Return of investment (RIO) all these should be spelt out. Also look at this from your business perceptive, does the business have sustainability measures, can it stand the flexibility of the market? How adaptive is the business?
The future market: Think of how changes in technology can affect your business, in five years from now what will my business be like? How will government policies affect my business? etc.
Scalability: every investor thinks of longevity so you should ask yourself how can the ideas grow, what ideas do you need to get in order to improve your business, does it require you to have a very robust team, or learn a technology to Improve your business, how do you intend to reach a wider audience all these should be put into consideration
What can possibly go wrong? Yes, this is a very serious question that determines whether you get your investor’s funds or not. You have to ask yourself of your potential weaknesses, like what skill you need to learn in order to beat your competitors, consider all possible question about your potential weaknesses going to the future.
Who are your ideal customers? You should be able to effectively tell your investors who are ideal customers are, interests, demographics etc.
The overall performance of your pitch is dependent on how elaborate your business plan is since all the answers to the questions are contained in details in the business plan.
A business plan is a detailed description of your business, it describes the objectives, goals, products and services, market share, implementation strategy, staffing, expansion strategies etc. An excellent business plan consists of the following components: the executive summary, company briefing, products and services, market analysis, management, strategy and implantation models, financial plan, Appendix. Because of the technicalities Involved in writing a business plan and how important it is in getting your potential investor. Contact Our team of professional business plan writers help you with your project today.