How to Sell Your Business Idea to Investors |
How to
Sell Your Business Idea to Investors: Have you
wondered how to secure funding for your business idea? Or find the right
team? Well, tonight I'm just here to share six thoughts on how to pitch your
business idea.
The
first point is this: who are you
pitching to? Have you thoroughly researched this investor or group of
investors? Do you know if they're interested in your line of business? Who are
you pitching to?
The next
thing you need to know is: you
need to sell yourself first, then your idea, because people buy people first,
before they buy ideas. What are your skills? Where are your talents? What have
you done in the past? What are you bringing on board? Sell yourself first, then
your idea.
The
third thing you need to note is: What is
your edge? What is your point of difference? What is your uniqueness? Now, this
unusual tree you see, can be found in Socotra, an archipelago in the Indian
Ocean. It's unique. Its different. Know your difference. Now for me, my edge is
my passion for travel. I have a dream to visit every single country in the
world. And to date I have been to 43 countries on 5 continents. Travel affords
me the opportunity to learn about other businesses. Travel increases and
deepens my knowledge. Travel informs me of what's happening in other parts of
the world. Travel definitely exposes me to other cultures and other ways of
doing things.
Only
three weeks ago, I was in Finland, and I returned with a completely new
perspective on architectural designs. This is a picture of me standing at the
Gullfoss Waterfalls, in Iceland. And this is one of me in Columbus, that is in
the European Space Agency's testing laboratory in the Netherlands. and trust
me, I'm not in space, I was just pretending to be in space. This is another
picture of me bungee jumping over Auckland Harbour Bridge, and believe it or
not, I am the first Ghanian to bungee jump over Auckland Harbour Bridge in New
Zealand. (Applause) Now this is a picture of me hiking on the Great Wall of
China. I absolutely loved it. And finally, this is me standing next to the
Library of Congress, the largest library in the world. The Library of Congress
can be found in Washington D.C.
The next
point you have to ask
yourself is what personal commitment have you made? Have you put in your money?
Resources? Because nobody will invest in you if you haven't put in money, time,
and effort into your idea. What personal commitment and sacrifice have you made
towards this idea? This is an interesting photo of me, en route from Accra to
Marrakesh. When I actually started travelling around the world, I was doing it
the hard way. So yes, you saw very interesting pictures, but this is how it all
began. And on this journey, it was about 40 hours actually, and believe me,
nobody had a bath during the entire 40 hours. So you can imagine how smelly the
bus was.
The next
point you have to note is: What
is your exit strategy? How will the investor make money?You have to have a
very clear plan from the beginning of how they will be rewarded. Are you going
to sell off shares, or sell the company? What is your exit strategy? The sixth
point is: learning never ends. You have to learn, learn, and always learn, to
refine your idea, to improve upon it, you have to always learn. I would like to
leave you with this very important point, which is that people buy people
first, before they buy your ideas. Thank you very much.
1 Comments
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