For many businesses, a common barrier to growth can be accessing finance. Whether it’s for investing in stock and equipment, recruiting more employees or buying new premises, the way in which you pitch your proposition to a lender can overcome this hurdle.
The first question you need to address is “who am I pitching to?” and “how am I going to do this?” Start with a snappy elevator pitch. This describes your business in two to three brief sentences. In the high pressure world of finance grabbing someone’s attention is paramount.
Follow this with a clearly written and well defined business proposal which incorporates; thorough financial forecasts that detail the past, present, and future of your business. This is a personal document about the state and future potential of your business, you must think carefully about what you are attempting to achieve. Keep in mind a few key points during your preparation.
Think carefully about your language and delivery. Your pitch needs to deliver a lot of information but in a way that is engaging and persuasive. Aim to keep it simple and precise, make your business attractive and also show confidence and commercial awareness. You need to show investors you know exactly what you want to achieve and deliver a clear vision for fulfilling your aims and aspirations.
Always remember the purpose of your pitch; you are trying to persuade people to invest money in your business, so it is useful to ask yourself a number of questions: “why should someone invest?”, and “what makes you different?”
Throughout your preparation, try to put yourself in the investors’ shoes. What would you want to hear, and how? Always remember these key points: keep it simple, keep it informative, and keep it focused.
The Hub's access to finance specialists are here to offer you help and support in developing your business plan, pitch, and its delivery. In addition, you will be introduced to the regions extensive network of business angels including North West Business Angels, the Greater Manchester Co Angel Investment Service and many more. All of these organisations have access to investors who are dedicated to funding growing businesses across the North West.
To find out more, Enquire and Grow today.