Think you’re ready to pitch to investors? The number one rule is to be prepared, but that doesn’t just mean you’re well-rehearsed. You have to be fully prepared for some seriously intense questioning before investors will be ready to trust you with their money. What do you all need to know?
First, you need to know every aspect of your finances and research data. The numbers have to add up, and every figure must be validated. You need to know how much money you need and where every penny of it will go. You need to know who your customers are, what the size of your potential market is, and why your product will be chosen over your competitors’. Then, you need to know your pitch inside and out. You need to be ready to think on your feet; someone will probably interrupt you with a question, and you need to be ready with the answer and then move on with your pitch. You also need to be honest with yourself about the value of your business. Excluding assets, this is calculated by its profit potential to your potential investor and has little to do with the amount of time and money you’ve invested in it to this point. Keep these things in mind, and you’ll have a shot at securing financing!
Read the full article here: 6 Tips for Pitching to Investors