What is your pitch for a potential investor? Here is a Step by Step Process...
Curious how to get ready for a Dragon’s Den or Investor Pitch?
Recently a client excitedly shared she would be meeting a potential investor in the next few days! She hurriedly wrote a business plan, however on the phone the day before he asked, “Where are the financials”!? Yikes she said, "I’ll get them" and called me! Another client shared she had a call to compete on the Dragon’s Den show, and this would 10x her business, yippee... but how do I prepare was her email questions, gulp!?
What great turning points in these businesses! Here’s a step by step process I prepared for them to get camera ready...
A. Form your own Dragon's Den mock panel and practice your pitch in front of these "dragons". Ask them to be supportive and tough.
B. Here’s a few questions you need to prepare in advance, and yet they might ask more!
1. What are your Sales to date and number of years in business?
2. What re your sale patterns? (Quarterly reports)
3. What were your sales in 2017 or the previous year?
4. What reach do you have with sales and shipping?
5. What are your annual profits?
6. What type of annual expenses or overhead do you have?
7. What are the company growth patterns?
8. What manufacturing process and distribution is done for products?
9. Who owns the patents, if any?
10. What intellectual property is involved with this company?
11. Do you already have other partnerships?
12. Who are the other Investors to date? What % and investment?
13. Who are your team members?
14. What knowledge, skills, and experience are held by your team?
15. What’s your ask pitch % for $x
16. What do you hope to learn or need from us (Dragons/Investor)?
17. Who do you feel is the best Dragon for your biz investment? Why?
18. What is the next opportunity?
Research all the Dragons/Investors and know how to pitch directly to the one that fits your company!
C. Practice, practice, practice...make it interesting, accurate and powerful.
D. Watch: DRAGON’s DEN promo at : https://www.youtube.com/watch?v=S2HL8Wo7_AI
Hope this is useful and I’d love to hear more about your business pitch and experience with investors. Let me know any “Excuses”, Highlights or Challenges that arise as you review these You Tube clips, and how I may be of support for you. Call or email Dr Connie xoxo