Maybe you’re lucky enough to have the capital to run your small business, even in the early stages when profits might be slim. But more than likely, you’re going to need a little help, especially in the early going.
That’s where investors come into the picture.
Their money will help you do important things like staffing, buying equipment, and funding much other critical expenditure that will get you over the hump until things are running smoothly. But none of that will be possible, of course, if you can’t convince these investors to come through for you and write the cheques. And that takes a combination of preparation, confidence, and salesmanship to get the job done.
You have to remember that these prospective investors wouldn’t have even reached the stage of taking a meeting if they were not intrigued enough in your business to consider giving you their money. So, it’s not like you are cold-calling or taking shots in the dark. You already have them in the ring; from there it’s just a matter of reeling them into your business.
Many people are experts at these kinds of pitches and have the knack for making whatever it is they’re saying seem like the best possible outcome for the people in the room. Even if you haven’t yet experienced these types of meetings, you can get by with a little advice.
Having paperwork with all of your business information on hand is a good way to impress investors; find a location where you can order cheques for this purpose and get everything you need. When you take that next investors’ meeting, remember the following three traits which you need to embody to make the sale.
The surest way to look unprofessional is for you to be unable to articulate the nature of your business. Similarly, not being able to answer pertinent questions asked by the potential investor is another poor impression to make.
Makes sure you walk into that meeting with every possible number and fact either memorized or at your fingertips so that your hopeful investors won’t catch you in any way unaware. That will lead to the second must-have for your presentation…
You have to believe in your cheques before anyone else can believe in it. Yet it’s also important to understand that you can’t seem overconfident to the point that you come off like a braggart. Find that fine line between the two extremes and you should have your investors eating out of the palm of your hand.
Don’t assume that your investors will sense the same potential about your business that you do. You have to make them see the greatness in your endeavor, which means you have to be part carnival barker and part sensible tour guide. Your investors should come out of the meeting knowing just how excited you have for the business. That excitement should prove contagious.
Having all three of these characteristics present in your pitch to investors will do a lot of the work for you. Let your business do the rest.
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