If you’re in a startup, you know the importance of proper budgeting. For every startup one thing is true: if you don’t have enough funds, you’ll have to say goodbye to the great idea you had and turning your dreams into reality. That’s why, for most startups, pitching is life. You need to show your investors and demonstrate to them what you can do and how they will benefit from investing in your business. That’s why we want to share some tips on how to budget your startup.
Keep it simple.
The first advice we will give you today is to keep your startup pitch simple. People who are sitting opposed to you are overwhelmed by the investment proposals and they are looking for something to catch their attention. Don’t try to impress them with a long speech that says little, keep it plain and simple and show you’re trustworthy and know what you’re doing.
Track your time.
Just as being simple is important when it comes to your pitch, you should take care you’re not taking too much time to explain everything you want to say. Respect other people’s time and be aware of the fact that the attention span is becoming shorter and shorter.
Say something about yourself.
Humans are natural storytellers and it’s normal we get attached to brands and businesses who have and share their personal story. You should use that fact and try to incorporate it into your pitch to attract your investors’ attention.
Make sure they know you’re important.
Even though we won’t tell you-you should go for a sales pitch you should definitely use some of the trick salespersons are using to win over their customers. One of those things is letting your investors know what you can offer and others cant and what you can offer to change their business game.
Pitching your startup? Let them experience what you can offer.
If you want to win over investors you should let them know what you’re offering by letting them test your product or have some kind of palpable way to see it. Pictures or screenshots of your product can help make it more tangible for investors.
Know your audience
Investors love to know what your product is, but they also need to understand who will use it. Make them understand you have a clear picture of your targeted audience. And don’t forget to show them you know how you’re going to approach them and profit.
Be ready to support any claims
If you’ve ever experienced the power of debate, then you know what are we talking about. Be prepared to answer some questions about your business and be sure to have answers ready in a heartbeat.
Being unable to I back up any claims you make will decrease your attempts to convince investors that you understand your business and you’ll lose the potential investment.
Make sure you make a point
Make sure your story has a beginning and an end. The conclusion of your startup pitch should contain a brief and clear summary of your argument. Make sure they know why they should put their money in your startup.