How To Pitch Your Business Idea In 5 Steps

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Image Source: Think with niche

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This will not only impress your investors but will also help you come up with a good business strategy. There are many other major perks of this too. #ThinkWithNiche      

Simply having a business idea isn’t enough; you’ll have to learn how to pitch it in a way that attracts investors. Pitching your idea is harder than it sounds. There are countless stories about big entrepreneurs whose businesses took off simply because they knew how to sell their business idea. Naval Ravikant, one of the biggies of Silicon Valley, even goes to the extent of saying that everyone should know how to sell. It doesn’t matter which profession you belong to, sooner or later, you’ll have to act like a salesman. 

So if you are about to go for a sales pitch meeting, here are few tips you should know beforehand. 

1.Create An Elevator Pitch-

In business, time is of the essence. There may be times you’ll get only a minute to sell your business idea. Now I know, one minute is not enough to talk out a whole business idea. That’s why for moments like these, you only need a hook to catch investor’s curiosity. This is what is called an elevator pitch. Imagine you are stuck in an elevator with a potential investor. Now you have a minute to sell your business idea. Elevator pitches also give one an idea as to what is at the core of any business idea.

2.Create A Neat Presentation- 

This is the next step. Once you have got the investor’s attention, you’ll have to prepare a neat presentation. That presentation will have everything spelled out about your business idea. Here the trick is to keep everything genuine and exciting for your investors. No false promises! No unnecessary information! Be precise!

3. Demonstrate Realistic Forecasts-

Business is all about numbers! So it’s given that when you’ll pitch a business idea, investors will ask about the estimated ROI, gross profit, sales, etc. Hence it’s important for you to think about all these beforehand so you come across as confident. Try to ask around and take the help of experts to find out the estimated figures. These numbers will give your investors more confidence in partnering with you.

4. Keep Start-Up Costs Low- 

While estimating the start-up cost, do not get carried away and include unnecessary costs. Keeping your start-up cost at a bare minimum gives you more leverage into attracting more investors. Wise investors look for cheap business ideas to invest in so that risk remains low and the ROI is higher. 

5. Decide Your Target  Market- 

Never make the mistake of saying that the whole world is your target market. That’s complete rubbish. It’s always wise to be precise than remain ambiguous that’s why you will have to think about who you’ll be making a product for. This will not only impress your investors but will also help you come up with a good business strategy. There are many other major perks of this too. 

Read more business articles. We Encourage Aspiring Writers/ Authors to Share their Articles and Viewpoints on the Categories underlined by TWN. It is a Free Online Blogging Platform to READ-CREATE-SHARE your know-how with Target Groups (TG) of Readers & Leaders. We also provide Content Development Services for the ones seeking the same. Our Aim at TWN is to Equip Young Leaders/ Writers/ Authors/ Visitors/ Readers/ Members with Quality Content Syndication Services @ Categories and Support Sustainable Business Growth for Entrepreneurs and Aspiring Professionals (Leaders/ Writers/ Authors/ Readers)

Published by Think With Niche

Business Blogging & Global News Platform. Here Leaders & Readers Exchange Business Insights & Industrial Best Practices on Startups & Success #TWN

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