You’ve presented all the key points about your business, you’ve told your story and you’ve shown that you’re ready to take things to the next level. The crescendo of your power pitch is about to happen. All the groundwork has been laid, now it’s time to talk money. It’s time to tell them how much money you need, and what you will do with if they give it to you.
In this episode, host and business coach Tom Ryan takes us into the home stretch of delivering a truly masterful business pitch. As always, Tom is joined by co-host and producer Jason Pyles.
• Show opening, and recap of the “Power Pitch” series thus far
• Understanding Investment and the Use of Funding
• Three big questions:
- How much money do you need to achieve the projections you just described?
- What will you spend it on?
- Good responses: Responding to current market demand; key additions to team; expanding products and services; accelerating sales
- Bad response: “We’re running out of cash, and we need more money”; higher salaries; premature market launch; flamboyant startup overhead
- How will the deal be structured?
• This entire section of the pitch should be succinct
• Example: “We are raising a million dollars in equity funding to scale the business to $10 million in sales by 2018.”
• Homework: Clearly define your investment and use of capital statement. Share with others, and get feedback.
• Next episode: How to wrap and rock the pitch presentation
• Sign off, and ways to contact the show
Links for Today’s Episode:
Tweet Tom at: @TomRyanAVL
Do you have a question about your business? Tom would love to help you:
Leave a voicemail: (801) 228-0663
E-mail your questions: SuccessInBusinessPodcast@gmail.com
Like this podcast on Facebook
Follow this podcast on Twitter: @TomRyanSIBP
Get every episode free: Subscribe in iTunes