Pitching is all about having to create a winning impression when meeting possible investors. It’s transferring your enthusiasm, excitement and your clarity to the person you’re pitching to. It makes all the difference when it comes to the future of building your business and brand.
You only have 1 shot at this. Make it count. The reality in investment in fashion is this, it’s not very common because investors always look for high returns in a short amount of time. Though there are exceptions, most fashion investors come from a background in the industry. The best strategy is to look for investors who will provide business advice and connect you to a network in the industry. Your suppliers or your customers can be your potential investors too.
Here are 8 pitching strategies you need to master and practice:
1. UNDERSTAND WHAT YOUR INVESTORS WANT – What will make your pitch successful is knowing what they’re looking for. Research your investors and their previous investments.
2. KISS (KEEP IT SHORT AND SIMPLE) – Don’t go giving too much information, go straight to your primary point and help the investor understand what you’re trying to come up with in the shortest time possible. Most of the time, if we’re nervous, we tend to beat around the bush. Gather yourself and provide more details only if they have shown interest later on. You want to give them a piece of the pie, you don’t want to give them the entire pie.
3. ENGAGE YOUR AUDIENCE – Don’t read a script, ask your investors simple questions for more interaction and raise their attention level. Encourage them to ask questions anytime. A silent investor during a pitch is dangerous because you don’t know if they’re interested or not.
4. AVOID USING TEMPLATES/THEMES – Customize your pitch to fit your brand and your investors’ interests and needs, rather than using a commonly seen or formal script. This is going to help you fit the needs of the investors and stand out from the rest of the field.
5. BE CLEAR – Being clear and concise about your ideas will provide transparent financial information in detail including your balance sheet, break-even analysis, monthly cash flows, etc., so your potential investors have a dashboard overview of what he’s going to possibly invest in.
6. BE REALISTIC – Show your ambition but don’t get too carried away. Make sure to present a business plan that’s supported by DATA & FACTS like cash flow, growth plan and the ability to pay them back what they will invest in. Include store sales or order to show proof of interest from retailers.
7. BE PREPARED – Before an investor commits to funding you, have a thorough check on your plan and your team’s capability in design and business management. Think of a Plan B for worst scenarios and difficult questions that you may encounter. Showing that you’re well prepared means that you’re serious about this investment and ready to tackle any problems.
8. BE CONFIDENT – Your potential investors will ask you difficult questions and challenge you, and it’s ok. Do not panic and doubt yourself. If you don’t know the answer to it, be honest and say you’re not sure about it so you’ll get back to the investor with answer for that, instead of a made up answer just to give one. Trust in what you have created and show you have full potential to expand to a much broader market.
Read also about my previous blog about “ELEVATOR PITCH” here: https://antonioaguirrejr.com/3-steps-to-a-perfect-pitch/
TEMPLATE FOR BREAKING THE ICE:
I’m (NAME), (DESIGNATION) of (COMPANY), we offer (PRODUCT/SERVICE) for (TARGET MARKET) to (PURPOSE OF PRODUCT/SERVICE). Unlike those that you can normally find in the market, we (UNIQUE SELLING POINT) and we recently (LATEST MILESTONE).
FUNDING ROUND:
– Initial funding in the capital from angel investors who provide more favorable terms.
– Seed Round is about generating capital. It marks the start of turning your idea into a business.
– Series A is optimizing products and your user base as well as scaling your products for different markets. This is usually with a Venture Capital Firm. Some companies go to a series B, C, D or some go straight to an IPO.
– IPO stands for Initial Public Offering.
Question of the day: Are you looking for potential investors for your business?
*If you want to scale up your business, I have connected businesses to investors, including mine successfully. Send me an email and let’s talk.
What people talk 1 Comment
Tell us about your thoughtsWrite message
Back to
Top
December 14, 2020 Author Khel Lawrence
For now, I am not in need of investors but these are great tips if ever I will be dealing with future investors.
Thank you for the tips!!