Something like a Shark Tank has made venture capital, fund garnering into buzzwords in the startup ecosystem of the world, to the point where people are getting inspired to become entrepreneurs through shows like Shark Tank.
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1. Pitch Perfect!
Show them that by them investing in your company is the beginning of the product. Show them a roadmap of how you plan on taking the company forward from here.
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Your pitch needs to tell a story about your product- primarily. It needs to be involving, engaging, and an extension of the product you’re offering in itself.
3. Personal Profiles- if it is relevant
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4. Exhibit That You Know Your Customers
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5. Build a Customer Base
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6. K-I-S-S, Keep it simple, silly!
Not just this, startup founders need to get ready for grilling on valuations/worth of their company, other details.
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Make this milestone clear from the very beginning.
This will give you a goals-based approach to even making sure you get funding in the later rounds for your company and it will create a good venture capitalist-entrepreneur relationship after the first round of investments and milestones having been achieved.
Know the figures that you are asking for. Have adequate explanations for the figures you’re quoting in your pitch.
8. Have a Plan Already in Place
So when quoting figures to venture capitalists, you’ll need to exhibit the why’s and the how’s.
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Questions like what are the five to ten-year projections for the company, future financing are asked.
So, all in all, if you’re asking for cash, get ready to explain and account for every single penny.
9. Know Your Investor
Mark Cuban for instance, when he once pronounces that something is a final offer, that is his last word; the entrepreneurs that have continued to negotiate beyond this have not gained any investment at all.
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Startup founders- look into how the investors you are seeking investment from have functioned in the past. Understand their style, do your homework in the investor department. This starts from first even figuring out which particular investor to approach for your product.