O's ObservationsThanks for visiting my blog. It's where I talk about business and life lessons.
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Pitching your idea is undoubtedly one of the most nerve-wracking experiences but also one of the most rewarding experiences you can face. Whether you're looking for funding or not, I recommend pitching your company. Why? Because you should be able to sell yourself and your company at any opportunity and we don't know when an opportunity will arise. When I look at data of entrepreneurs, often times we overcome challenges but there are also times when the challenges are rooted in our inability to sell ourselves, our confidence, and targeting the right audience. Investors what to know how much you're looking for, what you're going to do with it, and when they'll get their investment back. Understanding your business and setting up how you will impact your industry is a critical tool. Here are tips solidify your pitch. Share your background and relevant experience No investor wants you to make all your mistakes while wasting their money. Be able to share the lessons you've learned, the ebbs and flows of your business experience, and why taking a chance on you makes sense for them. Define Your Company's Uniqueness Every investor wants a piece of the next big thing. Venture capitalists are influenced by product characteristics such as proprietary features and competitive advantage. Investors look for features that distinguish you from potential competitors and give you some sort of advantage. That can be a patent but it can also be your unique system. Be able to separate yourself from the pack be knowing your strengths. Financial Performance Validate the financial stability of your company. Can you handle your financial obligations? An investor may be more open to risk than a bank but you have to be able to use data to substantiate the projections. Potential has its value but within the confines of a calculated risk. Your Team The best companies have the best teams who can offer their experience, expertise, and commitment to the success of your company. Your team should be diverse and have voices of influence. You don't need group thought, you need thinkers who can create, challenge, and build. Whether it's a small grant or the big pitch, take the chance. You'll see how the process sharpens you. Join my F.U.E.L. community as we routinely share grant and investor opportunities.
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AuthorOriel McKinney is an award winning business strategist and speaker. This blog compliments her work from a personal perspective. Archives
March 2023
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