A great business idea and business plan is a good start. But you still need to convince investors that your project is worth the money. Here are some tips for doing this.

In order for business investors to be interested in a project, start-up entrepreneurs should be aware of the key steps they can take to prepare themselves for presentation and are already standing against investors.

Build a good team

A great team is one of the most important components of the success story. Some investors are determined to invest in a project with a good team, even though the idea is not yet fully developed. The team must be built not from random individuals, but from people with clear competences and experience.

Select the leader who will present the project

The project has to be presented by the leader of the team. This person has to be able to speak talkatively, accurately evaluate different situations, be able to prove his own truth, acknowledge mistakes and react to remarks. The team leader must clearly see the vision and be able to defend it, and must be familiar with everyday business processes.

Check out the idea

In order to get an idea, it's important to check it thoroughly before presenting potential investors. Such an inspection can be done by sharing the idea with the environment, creating low-fi prototypes and using pre-orders. An idea testing should take a few weeks to several months. It is necessary to start investing in product development as soon as possible, already knowing what the wishes of potential customers are and fulfilling.

Draw attention immediately

Each presentation must be started by listeners presenting themselves and the name of the project. It is necessary to be as brief, clear and complex as possible, but in an interesting and possibly unexpected way to illustrate or describe the basic idea.

Convince that the idea solves the problem

A potential investor needs to understand that there is a problem that it needs a solution and that your solution is the best. If you have properly verified the idea before the presentation, you can easily find the arguments to support your claims.

Explain how the solution works

When discussing the problem, you need to explain how it will be dealt with. Do not miss out on details or complicated explanations. If your idea includes several possible ways to solve the problem, select one for presentation - the most basic or the most important one.

Get to know the market

The investor needs to know the size of the market in which you will operate. Speaking of the market, introduce a global, not country or regional market. Tip for Lithuanian starters - Begin from the beginning to the global market, because Lithuanian consumers are often not a reflection of consumers on larger markets.

Present your business model

If you are considering several possible business models on the day of presentation, select the key one, and preferably it is the easiest to understand, as you will have to prove that your chosen business model will make a lot of money. On the stage, you should also be aware of other business models used in your competitive environment, so that you can explain why you chose exactly the model and not the other model.

Know your competitors

You have to know all the competitors in your area, because they are always there, even if at first glance it looks different. Do you make scooters? Your competitors are not just other scooters, but also bicycles, skateboards, etc. manufacturers of similar things.

Convince that you are having a challenge for breakfast

To convince investors that your team is ready for challenges, has the necessary expertise and expertise, there are genuine professionals. Briefly explain where the team members worked, what they were able to do, what they achieved.

Invite to invest!

Complete each presentation with a clear invitations to invest - say that you come here to find investors or partners. Of course, you need to know how much money you need, what they will be used for and how much you can offer for it.