Your business description is an explanation of what your company does, the industry your business is operating in, and what differentiates your business from others. It should also contain a more detailed information about your company profile. You should talk about the widespread markets operating in your industry, and how some diverse products or services can benefit or affect your business.
Enter your email to reset your password Or sign up using: Sign in if you're already registered. Staff Every entrepreneur has to present a business plan to outsiders at some point if he or she is seeking a loan or investment in the company.
Obtaining venture capital funding, angel investment, or even bank loans for a business is increasingly difficult in a tough economy. You don't want a poor pitch to impede you ability to score financing for your business. In fact, it's imperative to have a pitch and presentation that showcases your idea, your potential, your market and your ability to provide investors with a return on their investment.
The business pitch is different than the business plan. But you need to have your plan drafted before you can fine-tune your pitch. The plan is the screenplay for the business.
You have to have it before you can put together your pitch. The pitch is a summary of the plan. Prepare Your Pitch and Presentation A business pitch consists of an effort to convince others that your idea for a business is a good one.
Informally, you may have done this a thousand times already. The more formal process of pitching and presenting is usually before an audience of venture capitalists, angel investors, or bank loan officers in an effort to secure a loan or investment in your company.
Usually, an entrepreneur starts off by asking for a certain amount of money, and the value proposition for the investor -- such as what percentage of equity in the business that investment would buy. Most of the time, an entrepreneur would make a formal presentation -- often with a slideshow -- to help illustrate a pitch.
The formal presentation is typically followed by a question and answer session. Investors often mull over the details and, if they make an offer, will perform due diligence on the financials before turning over any funds.
Know Your Business Plan.
The first rule of thumb is to write a business plan and to know that plan inside and out before pitching and presenting to outside investors.
The written business plan is often the way to get in the door with investors. If they like your plan, they may invite you to pitch and present. You may get only one chance to present to this group.
Don't blow it by seeming ill-informed or being unable to answer questions. There is no room for filling in the details later. You are supposed to have them ready to go from the first encounter. They only listen to formal pitches and presentations from a handful.
Your business plan needs to include the necessary components -- the business concept, market, management team, financial projections, marketing plan, etc. You should have a hand in drafting the plan if you are the presenter so that you are intimately familiar with all the details.
The goal of the business plan is to convince investors that you are worth the risk of investment. Your pitch and presentation need to build on that theme. Pinson also was selected by the U. Small Business Administration to write its government business plan publication.
Is this a business that looks like it will have fast and sustainable growth and get the returns to the investor that he or she is looking for? The reason an entrepreneur makes a pitch is most often to request funding.
But just how much to ask for is often key. Understand which investors want high-growth and high-risk strategies, and which will accept lower growth and lower risk. It's not just numbers on a piece of paper," Pinson says. A pitch needs to be prepared in a variety of formats to take advantage of not only the formal pitch and presentation meeting but the informal chance meeting in an airplane or elevator.
Here are a few types of pitches: Every entrepreneur should have a short, concise speech ready whether they step onto an elevator or prepare to travel on an airplane. You never know who is going to be sharing the ride with you. The key words to keep in mind while crafting this message are: You won't have the investor's attention for long so condense this message.Compare the Top Savings Rates/10 (38 reviews).
Use and Reprint Rights for Your FAST Business Plan Template This template has been written to include instructions for creating your final business plan. You are free to edit and use the material within your organization. The business plan should include basic operating plans, marketing ideas, an outline of strengths, weaknesses, opportunities and threats, three to four year financial projections and .
This article is part of our “ Business Planning Guide “ —a curated list of our articles that will help you with the planning process! What is a business plan? In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals.
A business plan is all conceptual until you start filling in the numbers and terms. The sections about your marketing plan and strategy are interesting to read, but they don't mean a thing if you. Approval of your loan request depends on how well you present yourself, your business, and your financial needs to the lender.
The best way to improve your chances of obtaining a loan is to prepare a written loan proposal or business plan.