The most common reason new businesses fail is due to lack of capital, either at the beginning or soon down the line when owners realize the costs of maintaining a business are greater than they thought. This is why securing investors is one of the most crucial steps in turning your business idea into a reality. Sales skills are among the most important for any would-be business owner to have. You may have an excellent business idea and the know-how to make it a success, but no one else will know that if you aren't able to sell it.
If you have no idea where to start, you can try working with financial or legal advisors to find angel investors. These investors are mostly wealthy people who may run businesses of their own, or they may be retired. Naturally, they'll expect a sizable return on their investment, and while they'll generally grant you years to reach that point, you'll need to be sure your investors are good business partners. The more they invest, the more active role they'll likely play in your business. But how do you convince them to invest in the first place? Here are just a few important tips.
Have a compelling narrative.
There are plenty of reasons why storytelling sells, not least of which is a story's ability to appeal to both the mind and emotions. Your sales pitch to potential investors or a combination of employer bids is a great opportunity to tell a story with your company as the protagonist and how you've already managed to overcome obstacles, and how you'll continue to do so in the future. If your business is already off the ground and you're looking for investors to help you stay afloat or expand, the relevance of your story can demonstrate how you've already helped your customers and how you can turn profits for your investors.
Including hard data in your presentation is naturally important, but nothing makes people want to listen like a compelling narrative. Your story can be made into an elevator pitch that quickly shows what your company does, what problems you solve for customers, and how you do it better than your competition. Research your audience beforehand, and you can even work in details that appeal to specific investors.
Create a stellar presentation.
A story is great for a sales pitch, but you'll need equally strong visual communication and presentation design to back it up. Consider getting help from a PowerPoint presentation designer. A professional designer will have graphic design experience in programs like Adobe Photoshop and InDesign, and they can help you create a captivating presentation using PowerPoint or Google Slides. Visualizing data through PowerPoint design makes it much more interesting for investors, and having professionally designed templates can give you the confidence you'll need to rock your presentation skills in the boardroom. A PowerPoint presentation is a great way to show off your logo and potential web design so investors get a better idea of your overall brand identity. Ultimately, having good presentation design can be the deciding factor.
Dress for success.
On the subject of presentation, you'll need to present yourself as well as possible too, or all the effort you put into writing your pitch and visualizing it may go to waste. Remember that you're presenting to professionals who are interested in investing in you. It's a good idea to approach this the way jobseekers would approach job ads and interviews. Formal business attire is generally best since it makes you look as professional as possible and demonstrates that you're serious about what you're doing. It may be unfortunate that people put so much stock in appearances, but this step should never be the one that stops you.
Between teaming up with someone who has presentation design experience to simply doing a great job of dressing for the day, these tips will help you with a more successful pitch.