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3 Tips For Pitching Your Business

3 Tips For Pitching Your Business

If you’re looking to find someone to invest a large sum of money into a business of yours that’s still pre-revenue, you’re going to need to know how to effectively sell that idea to potential investors. Here are three tips to remember when trying to pitch your business to prospective investors. Keep it short and sweet An elevator pitch is vital. Lengthy presentations and long-winded explanations aren’t going to impress investors. They’ll most likely turn them off from your business. You need to present your business in a way that’s short, sweet, and to the point. Investors need to know that your business will attract customers. If they can’t grasp your concept in a short amount of time, they’re going to assume that customers won’t either. Be realistic You need to excite investors about your big picture, while still keeping things reasonable. Avoid nonsensical financial projections that claim your company’s revenues will grow from $100,000 to $30 million in two years. You need to show investors that you have a grasp on reality with a best case, moderate case, and worst case financial projections. These should be based on fact, past/present performance data, industry analysis, etc. Don’t be the smartest person in the room It’s okay not to know everything, but you need to know what you don’t know and find the people who know what you don’t know. Essentially you’re looking to build a team of experts, and surround yourself with smarter people than yourself. Investors are looking to fund a management team as much as they’re investing in a great business...
3 Tips for Successfully Financing your Small Business

3 Tips for Successfully Financing your Small Business

The proper financing for small businesses can often be very difficult to find, due to the fact that small and medium sized businesses have one of the lowest loan approval rates. The reason for this is that these businesses typically have less of a performance history and limited resources to grow, which makes them a riskier venture for lenders. We’ve put together a list of five tips for help you obtain financing for your small business:   Make sure that your personal credit is in order Because of the risky nature of new business ventures, a lot of consideration is put into whether or not the person running the small business can stand behind a loan if the business doesn’t succeed. This is why when looking to finance your small business, it’s important to make sure that your personal credit is in order. Typically, a personal credit score over 600 is a good base for negotiations with financers.   Maximize your personal investment Any serious financing partner will want to ensure that you have personally invested a significant amount into your business before they’ll offer any additional financing. Being personally invested in your business shows investors and financers that you’re confident that your business is going to succeed. Why would anyone want to invest in your new business if you aren’t willing to do the same?   Be clear about the type of financing you require There are many difference financing models available, which is why it’s so important to be clear and specify what type you require. Is it working capital? How about equipment financing? Whatever it is,...