If you find potential investors on your new business venture despite the pandemic, congratulations! You’re already a couple of steps closer to success. Now that you’ve caught their interest, the real work has just begun. You need to put everything in place as soon as possible.
Time is gold in the world of business. You have to coordinate on a workable presentation schedule, organize your ideas, and manage your team before anything else. Once you do well, everything else will fall in place, such as getting business property insurance in the Philippines for support and so on.
For now, focus and take a few steps back to work on your presentation. Below are tips in delivering a great business pitch:
Be Punctual and Consistent
Building a professional relationship with investors starts with a good first impression. Show how determined you are by being accommodating of their needs, especially all COVID-19-related matters. Make them feel every second of their time is significant by sticking to your agreed schedule, either in person or online.
Address a Problem
According to a startup study, many small businesses fail because the market simply does not need their product or service. Nowadays, more prospects would likely scrutinize every detail of a business if it is actually promising. Your idea should be backed by reliable market research to prove that you have a target audience for the long term. This would show investors that their money is in good hands.
Present a Feasible Business Model
After presenting your vision, explain how you plan to execute a resilient business model in case of disruptions. This means defining your customers, value proposition, capabilities, and financial models. You should prove that your supply chain, product launches, employee well-being, and other processes would be carried out in the most organized and safest way possible.
Elaborate The Business Costs
Usually, the most important thing to consider for investors is the costs. However, 29% of small businesses fail because they run out of cash. Thus, it helps to have an elaborate, visual representation of your expenses. Use graphs, pies, or other creative execution to account for everything. This would also make understanding easier for all. Being financially transparent and smart is definitely a good look for your pitch.
Provide Contingency Plans
On top of increasing COVID-19 cases, disasters like fire, flood, robbery, and the like can still occur. Make sure to let investors see how your business can respond, recover, and renew against these challenges. This way, you would not seem short-sighted about your business’ weaknesses and have sustainable plans to protect your resources.
With these preparations, you would be well-equipped to face potential investors more confidently. Take one calculated step at a time, and get coverage from non-life insurance companies in the Philippines for a reliable fallback today!