When you are looking for private investors then you have probably come to realize that you must quickly showcase your business and what you intend to do very quickly. It is imperative that you are able to convey the message you are providing to your potential private investor in a minute or less. Most importantly, you may want to carry with you a one page outline that showcases every aspect of your business. Of course, this is extremely difficult to do but there are a number of templates that you can use when you are developing this piece of documentation.
If your business is already in operation then you should mention this first during your elevator pitch. As we have discussed before, if you are already generating a profit then you will be in a much better position to negotiate the sale of a percentage of your business to a third party. As such, this information should also be included in your one page elevator pitch summary. One of the things that you should mention very quickly is how much capital you need in order to expand or launch your business. It is very important to keep this number as reasonable as possible. For instance, if you intend to start a small bakery the you most likely do not need $500,000.
Beyond developing your elevator pitch, you should have a full business plan prepared as well. This is due to the fact that a potential private investor may contact you and you will need to be able to provide this documentation very quickly. Wealthy investors are approached constantly to invest into small businesses, and your ability to be prepared to make a deal regarding your venture is imperative if you intend to solicit capital from an outside funding source.
It should be noted that there are a number of conferences that you attend where you are able to provide a one to two minute presentation to a group of potential private investors or private lenders. However, these events are often very expensive and they are generally hosted in major cities. As such, you should determine whether or not you have the ability to attend one of these events and what type of results you can anticipate.
An elevator pitch is an important tool in your search for private capital, but it is not the only thing that you need in your capital raising arsenal. We are going to continue to discuss working with private investors through this series of articles.
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