If you wonder what it takes to win not just a startup challenge, but the most important Startup Challenge in Eurasia region, you have come to the right place. Here you can watch the final pitch of Louis Wajeiya, the founder of nims, winner of Startup Istanbul 2015 Challenge. Continue reading
Many entrepreneurs feel very stressed when it comes to pitching to investors and often underestimate or overestimate their investment pitch. There are many things, which you can do, to increase your chances of impressing the investors. Many startup owners are working hard to prepare themselves for the perfect pitch. They ask questions, such as: What exactly are investors looking for in an entrepreneur? They learn important terminology in order to learn to speak the language of the investors and work hard on their business plans. All of this is great! But before their pitch, they should spend some time and find the answers of these three questions, which can help them to increase their chances of winning an investment.
What is my mission?
Having a clear mission is important for every startup owner. It is vital to know what your business purpose is, what problems your products or services are solving and how you can make an impact in the niche that you are aiming to enter. Knowing the answer to these questions will help your pitch and will add to your whole understanding about your startup in general. If you can describe your startup in just a few words and manage to impress the investors, you will definitely receive the attention that your business deserves.
Who is on my team?
Investors tend to invest more in businesses that have great teams. They look for ideas that can be successfully executed and the execution depends on the members of your team and your leadership skills. Knowing the strengths of each team member and being able to highlight these strengths in your pitch will increase the chances for you to get the investment that you need.
How much money do I need?
This is very valuable information for the investors. Knowing what do you need and highlighting it in your business plan will show the investors that you know what you are doing and that you have realistic view over the whole investment process. It will help them to understand if your business planning is realistic, when the business will break even and what will be the revenue of their investment.