Today there are numerous events dedicated to bringing people into contact with entrepreneurs with a consolidated business idea already investors who want to find that idea that motivates them to collaborate with new entrepreneurs. This is a crucial moment for the latter, which is why in this article we wanted to give you the advice that you should take into account the most about How to present a business project.
The three ingredients of your business plan
The author E. Relines in his book The entrepreneur's first sale: what an investor wants to hear to finance your project, make sure that you business plan must have three essential features:
- Define what the customer benefit will be. It is the basics that every company should have: a benefit for the person who purchases that product/service. You may think that it is a difficult task, however it is as easy as compare your product with a attribute list. For example, more flexible, faster, more comfortable...
- Define the customer profile of your market. Defining what your product will do for the customer is just as important as the ideal customer profile of that product. They are two elements that complement each other.
- How is that business going to make money? In general it is a forgotten point and very little worked. Sometimes an innovative idea may not generate benefits because it has not been raised for an audience. It is necessary to define how your product/service will fit in the market you want.
Once you have your business plan well defined, organized and ready to show it to numerous investors, follow these tips for the crucial moment of the presentation.
What the investor wants to hear from your business plan
Do you know how they say that the value is not in the final product but in the process? When you decide to tell your idea, an idea that should be backed by profit earnings, is It is as important to be good as to appear to be.
Previous research and thinking about your business in a systematic way is what has the most value for the investor. Remember that They are people, not machines., and although the numbers do not fail, your attitude can play a trick on you.
Organize the presentation and answer the 3 questions seen above
The three main characteristics of your business plan that we saw in the previous section are the ones that you will have to respond to in the presentation. Concise, clear and without saying anything else. Remember that our capacity for attention and concentration is somewhat limited.
Plan a logical sequence
The questions that we have asked you before must be answered following a logic and a link between them. Plan your speech well linking the main ideas.
Create a story that sells
Your goal is to make someone bet your money on your idea. For this reason, and because human beings take partly emotional decisions, you must be able to create an emotion in the investors. Keep them tuned in to your story from beginning to end.
Capture their attention with a memory
Whether it is your own experience or someone else's, this resource is usually very useful for getting the another person to sync with what we are feeling. It's a good way to connect.
Short and concise introduction
Many investors complain of having to listen to the entrepreneur intro too long instead of telling in a few sentences what they do and what their business objective is.
Convey the main idea in the first few minutes
In that planning you should try to summarize the entire concept of your business in the first few minutes. Some investors they give one only chance 3 or 4 minutes to investors to listen to them. Is he Key moment.
Once you know what you have to do, you must know what you must never do. Next we tell you the most common mistakes Among entrepreneurs, the time has come to sell your idea.
What you should NEVER do
The most common mistakes of an entrepreneur against an investor are:
- sell the product and not the company
- Exaggerate to try impress reverser
- Pose unrealistic goals
- Disguise or bypass the risks of the project
- demonstrate a ignorance total of the finance
- Put duties to the investor
- Pose open business plans
- Demonstrate what's coming bounced off the bench
Like these, there are many examples of blunders by entrepreneurs when it comes to sell your idea. If this is the first time you are going to present your business plan, we recommend that you reports much on the subject.
Fail before a presentation like this it's a posibility, so you should take it into account and don't get demoralized before it.
These are some tips that we give you for that crucial moment. if at the end you got investor attention and this one wants finance your idea, find out about what comes next.