Balance passion and planning when you pitch for funding
Balance passion and planning when you pitch for funding
Seeking outside funding for your business is a big step. Whether you are looking to start a new business or expand an existing one, it makes sense to feel a little nervous.
But if you combine your passion for your business with detailed financials and meticulous planning, there's nothing to be afraid of.
Have a plan, know your stuff and add some spark.
- Investors want to know that you have a plan - and that you understand it. That means writing a detailed business plan, getting into the nitty-gritty of your financial situation and knowing the details by heart.
- Business plan - explains the business opportunity, examines the market, looks at skills and resources, and lays out a business model and a financial forecast.
- Financial details - specifies for spending the funding, sales forecasting, balance sheets, profitability predictions and details about your salary. If you are expanding an existing business, you need to provide at least two years of accounts and tax returns.
- Showing your product or service - a mock-up, prototype, pictures or screenshots - something tangible that can help bring your idea to life.
Pitching with passion
Successful pitching isn't about tricking investors into taking a risk - it's about sharing your honest belief in the business. Be upfront about what you know and don't know, get excited about your product or service and hope that the investor will share your enthusiasm.
Got the passion sorted, but need help with the numbers? We can help with forecasting, profit projections and other key financial details.
