Are you going to meet a potential investor? Certainly, there are many options how to prepare. But the most detailed preparation might not always be successful. The question to ask yourself is which are the things investors will hear from you? Which are the criteria do take the final decision if to invest in your business or not?
Finding good answers to these questions might help to prepare yourself:
Do you have a compelling story to tell? Something that make your story not purely fact- and figure – based, but that also from an emotional perspective catches attention?
Why you? What is unique and thereby convincing? How did you end up doing this, this particular idea and with these particular people? Why is your team the right team for what you’re doing? Passion and unique insight are powerful. Does you/your team cares so much about solving this problem that you’ll want to stick it out for the next years? Can you demonstrate that?
Why now? Why is this the perfect time for this startup to exist? At it’s best it shows you know amore than others. you really have a good, compelling idea. You’ve really mapped your market and target groups. Have other people already tried and failed? If yes, why and why you will not?
How will you do it?
Show your execution plan. As a written document.
The best paths come with numbers of some kind, an overview. You do not need to have all financial projections, but a list of clear assumptions. De-risk these assumptions, show that you have calculated risks, opportunities and challenges.
Why this investor? Why are you coming to this particular person? How do you imagine this investor will add value? Inform yourself about him and know some details.
Having answers to these questions makes you much more credible. Simply: You need to sell.
3 questions every KM sales person must be able to answer