THREE VITAL THINGS YOU SHOULD CONSIDER WHEN PITCHING YOUR BUSINESS IDEA.
So many people have had opportunities to showcase what kind of business idea they have and how it can benefit their country's economy as a whole.
However, very few have been able to to impress investors either because the business idea is not quite attractive to the investors or they have failed to point out vital facts about the intended business.
Considering this, below are some three (3) vital points that I think must be considered whenever you are pitching a business idea.
. The Market
You need to explain your market. Let the investor know how you intend to capture the market and to what extend do you intend to.
You also need to explain the advantages your product/service has that will facilitate the market infiltration.
Investors want to know why and how your product/service can give customers a better satisfaction than the product of the present players of industry.
. The Team.
The people behind a business are very essential to the success of the business.
Team must possess clarity of purpose, passion, persistence, self-awareness, and humility.
In some cases, the team might just be you as the entrepreneur. You need to let the investors know that you possess these qualities.
No investor wants to commit his resources into the hands of a man without a purpose or sense of responsibility.
. The Product/Service.
Lastly, the product/service is the reason you are pitching the idea. At this point, it is not about what you feel or think you have, but what the people need.
Your product must be able to meet needs and solve problems.
Show the investors how your market, team, and product lead to a great business for them and bet you are going to get them committed.
And don't forget to keep it short and simple.
Sixty (60) seconds is more than enough to pitch a business idea. Once you get the investors attracted, you can go into details.
Thank you so much for reading.
If you found this post useful, please have your say in the comments section below.
Good tips. This is the reason a serious minded businessman must conduct feasibility studies before setting up business.
Uhnm.... Very correct sir. In all we do in life (business inclusive), seriousness is very important for us to make headway.
My father once said "without a serious approach, don't expect a glorious result".
No man is ready for business or life generally, who is not serious. When, you are seeking investors funds especially, even more seriousness will be required of you.
That's why from the world go, everything about the business must be spelled out. You must have all facts about the business on your fingertips.
Without all in place don't expect funding from any investor except of course, if he is father Christmas." :)
wow you are sooooo right you need to play the time right.
Yeah thanks. Every opportunity to meet with them investors is a golden opportunity. You either play it right or you lose it big and sometimes for a lifetime.
yes is like they say "oportunity train comes once in a life time" to my blog
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I agree with the points, but I'd take it from the other side.
Very useful contribution @milansteskal. Good to have another view on the topic. I quite appreciate.
Thank you. I'd be happy to read and share more of your startup related content.
Interesting!
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