OK, so you’ve got the idea for your business! Now you need to package it well. First of all, know the risks to address. To be successful in your business, there are some things you must have: a stable, realistic business model, a thorough business plan, some seasoned management, great vision, big markets, a good team-building ability and a plan. And be realistic, you must have funding or income in order to survive while you launch.
In general, your business plan will be about twenty pages. It will cover all aspects of your business. The executive summary is part of your plan. It consists of a 2-5 page bottom-line version of your business plan that primes investors to read on. Shorter is betters, so if you can get it done in 2 pages, great! The financing pitch will be 10-15 slides extracted from your executive summary.
Step 1: State Credibility
You need to boost the credibility of your company based on whom you associate with. The more credibility your company has, the less perceived risk. You have 3 types of associations: the team of company employees and founders, your advisors and board members, and your strategic alliances. All of them can massively reduce the perception of risk…the greater your associations, the more smart and accomplished people are affiliated with your company, the more likely it is that you’re on to something cool.
Step 2: Be Clear
The key is to know who your audience is and tailor your pitch to that person. It’s great to convey the passion you have around your business. Just make sure you drive the conversation in a way that engages your listener. You should have three key points to deliver in your business plan. Repeat them again and again.
Step 3: Be Compelling
A compelling opportunity is the one that has the right deal, with the right price, at the right time, with the right product and/or service and the right team. Compelling deals are the ones that always get financed with favorable terms.
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