An entrepreneur must pitch a potential investor for what the company is worth as well as sell the dream on how much of a profit can be made. Having a solid elevator pitch ensures that you know your business very well.
Keeping that in mind, you should have a short version to speak within 10-minutes as well as an extended version that includes everything you’d like to give potential investors access to.
Begin your pitch with a compelling story. It should address the problem you’re solving in the marketplace. This will engage your audience right out of the gate.
You will also need to detail how much capital you are seeking, how much money is already invested in your business and how much you plan on using the money.
Build a user persona or your ideal customer when speaking about your target market. This can help investors visualize the potential customer base and displays that you’ve thought intently about who your business will serve.
You must clearly present how you intend to reach your customers, which channels you’ll be advertising on and the financials that easily allows you to calculate your customer acquisition cost.
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