A businessman with a newly expanding enterprise often finds himself in a rather difficult situation when he has to keep the business momentum upbeat. Thus, to keep the success rate steady and rising, here are 10 established ways to ascertain his prosperity.
1. Presenting a comprehensible timeline
It is best to always plan and be practical regarding your plans, its beneficial to already have an investment to completion calendar planned out beforehand, this specific calendar should coherently include the climacteric features of the very project. Kim Kaplan, CEO of the well-renowned dating app Snack, comments upon the importance of laying out an empirical, realistic timeline that will be flexible enough to allow the entrance of potential investors whilst simultaneously also ensuring that the very raising of the capital is not compromised.
2. Distinctly highlighting the
potential for investment
The VCs must have a very clear outline of the worth of your investment regardless of any initial conversations that might have taken place. This is considered crucial as the VC might introduce a new attendee at the very last minute of the meeting. Once again, planning is the key!
3. Show the VCs that you are well aware of your competition
VCs have a plethora of businesses whom they have to analyze, it is very obvious that they are aware of the potential competition you have. Knowing that you, as a businessman are up to date with other businesses especially your competitor conjures an overall good impression on the VC, as now they are acquainted with the fact that that you are positive and confident that your business venture offers a lot more as compared to others, stemming from this, this also encapsulates how you have managed to calculate the risks around you.
4. Bring forth the best and worst-case scenarios
Authenticity and practicality play a major, indispensable role in the eventual success of a business. Thus, you must show the investors that you are not making ludicrous, unrealistic scenarios. The perfect way to lay out your very ideas is to provide the investors with a wide-ranging possibility of investment outcomes. You can easily do this by making use of data and market analysis.
5. List out all the possible contingencies
The prime example of this is the pandemic itself and the one thing that has taught businessmen and investors alike is that they should always be prepared for the unexpected. A businessman should familiarise themselves with any emergency that could arrive, whether it is inclement weather, the health of individuals, etc, furthermore they should always back themselves with a possible plan B if something is to occur.
6. Do not waste the Investors time
That’s a big no! Be clear, concise, and comprehensive, you should not at all extend your message. In doing so, you will keep the investors engaged and hyped about your very investment.
7. Highlight the obvious
The worst thing that can occur at the meeting is the investor pinpointing a rather obvious point that you missed out on. Therefore, to avoid this is to first pitch the idea to someone completely oblivious regarding the know-how of your business, this way they can come up with questions that you might have missed on.
8. Avoid using pressure tactics
If you are doubtful in regards to what you have to offer, no matter how tempting it may seem, do not use pressure tactics on the VCs. They will be quick to point out your strategy and will overall further undermine you, as they might think that you are masking the weak spots of your work rather than working on them.
9. Be clear about how much you need and do not hesitate
Come prepared with exactly how much you need from the investors, uncertainty at this point leaves a bad impression on them. Thus it is advisable to come up with a fixed number.
10. Avoid making unrealistic, unattainable promises
It is best to promise exactly what can be done, overpromising may present to be a problem in future pitch meetings as at that time the level of expectations would be exceedingly high. Thus it is best to be realistic about your promises.
Reported by: Zarrish