Pitch Your Business like a Pro: Mastering the Art of Winning Investor Support for Business Success: Six Key Steps
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About this ebook
It takes more than just a brilliant idea to be a successful entrepreneur. Among all of the challenges facing a business owner, finding funding is one of the most overwhelming. This challenge alone can significantly limit an entrepreneurial dream.
Pitch Your Business Like a Pro arms you with the techniques necessary to effectively pitch your business and entrepreneurial ideas anytime an opportunity comes your way to do so. It is designed to help you to explore which options are best for you and how to position yourself to pitch you, your idea and your business to potential investors. To do this most effectively, it is important to know to whom you are pitching to, what they look for in a winning pitch, and how to best deliver it.
As an established entrepreneur and business professional who has made a significant number of pitches and has helped prepare others do so over the years, I've designed this book to help you successfully address these questions by:
Discussing the major funding options, investor groups and platforms available to the entrepreneur.
Offering a complete guide to creating a compelling business plan as a basis for developing an outstanding pitch.
Providing a valuable list of the essential do's and don'ts of pitching.
This book also shows you what to aim for in a pitch and what investor audiences look for in a pitch, as well as offering a master-class in how to deliver a pitch that you can use to develop your own winning pitching style. At the end of the book is a bonus chapter with precise details on how to make a successful sales pitch.
Your ability to pitch effectively will go a long way toward making your business dream a success, especially when you are able to attract the right kind of investor who is not just keen on making some money from your business but believes in you and your journey.
Welcome to Pitch Your Business Like a Pro!
Victor Kwegyir
Victor Kwegyir is an entrepreneur, international business consultant, coach, mentor, inspirational and business motivational speaker, author of seven other published books and counting, founder and CEO of Vike Invest Consulting Ltd. (www.victorkwegyir.com), a growing International Business Consultancy fi rm in London, UK.He is also the founder and MD of Vike Springs Publishing Ltd. (www.vikesprings.com), a publishing house based in London. And last but not least the founder and CEO of Vike Empire Properties Ltd. (www.vikeempireproperties.com), a real estate investing, and property sourcing company based in London, UK.Victor holds a master’s degree in International Financial Systems, with over 25 years of experience in business, and is a sought-after speaker who inspires and equips his audience with the knowledge and practical tools to start and grow successful businesses.Victor has been a guest on over 80 radio and TV shows across the UK, USA, and Canada. He also shares daily business tips via all the major social media platforms and YouTube videos under the hashtag #BusinessBuildingBlocks. He has his own blog and contributes to other blogs and business finance and management platforms, such as LinkedIn, StartUS Europe, and other websites around the world.
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Book preview
Pitch Your Business like a Pro - Victor Kwegyir
Chapter 1: What is Pitching?
Chapter 2: The Entrepreneur’s Challenge
PART 2:
Chapter 3: The Funding Options
Chapter 4: Bootstrapping
Chapter 5: Personal Savings and Credit
Chapter 6: Family and Friends
Chapter 7: Bank Funding
Chapter 8: Angel Investor Funding
Chapter 9: Venture Capital Funding
Chapter 10: Crowdfunding
Chapter 11: Grants
PART 3:
Chapter 12: What Is Your Plan?
Chapter 13: The Executive Summary
Chapter 14: General Personal and Company Description
Chapter 15: Products and Services
Chapter 16: Marketing Plan
Chapter 17: Swot Analysis
Chapter 18: Operational Plan
Chapter 19: Management and Organization Plan
Chapter 20: Personal Financial Statement
Chapter 21: Financial Plan
PART 4:
Chapter 22: The Pitching Challenge
Chapter 23: Preparing for the Pitch
Chapter 24: What Investors Look for in a Pitch
Chapter 25: What Not to Do When Pitching
Chapter 26: Aiming for the Perfect Pitch
Chapter 27: Effective Communication Style
Chapter 28: The Master-Class Delivery
Chapter 29: Bonus – The Successful Sales Pitch
Chapter 30: Conclusion
Appendix A
Appendix B
About the Author
WHAT BUSINESS OWNERS ARE SAYING
In Pitch Your Business Like a Pro Victor really gets to grip with one of the most important elements of business development- selling you and your business. It gives tips on positioning yourself as a professional and the go to person in your industry. It helps you to develop that perfect pitch to pull out of your back pocket at any given time so you are always ready to sell with confidence, authenticity, gravitas and believability. Whether you are pitching for new business, funding or investors Pitch Your Business Like a Pro is a must read before starting your sales journey.
Dr. Yvonne Thompson
CBE Chair ACBN , UK
Pitch Your Business Like a Pro: Mastering the art of winning investor support for business success in six key steps
takes business owners deep into a discussion centred on the pros and cons of the investment options available to small businesses and how to effectively win investment funding to build a successful business. The advantages and disadvantages of angel investors, venture capitalists, crowdfunding sources are discussed and practical tips and insights are provided for preparing for that most important meeting: the pitch to investors.
This is a highly readable book that will have immense, practical value to small business owners or entrepreneurs who are ready to expand their business."
Donna McTavish, Director English for Business Ltd, New Zealand
Victor has provided a great guideline for any individual or business owner ready to take their product, service or idea to the next level.
Pitch Your Business Like a Pro offers key points and core elements to explore and incorporate into a presentation or pitch whether, formally in front of a large key audience or on the fly while networking. He manages to cover all the necessary components to assist you in your preparation as well as provide a highly organized and valuable resource that you can refer to over and over again.
Irene Kimmel
Marketing & Design Consultant
Archetype Marketing
Europe & USA
ADDITIONAL PUBLICATIONS BY VICTOR KWEGYIR
The Business You Can Start:
Spotting The Greatest Opportunities In The Economic Downturn: 1 (Pathway to Business)
by Victor Kwegyir
You’ve Been Fired! Now What?
Seize the opportunity, creatively turn it into a successful reality
by Tonia Askins and Victor Kwegyir
PITCH YOUR BUSINESS LIKE A PRO
Mastering The Art of Winning Investor Support for Business Success: Six Key Steps
The Entrepreneur’s Guide to Secure Funding from Angel Investors, Venture Capitalists, Crowdfunding Sources and More
Victor Kwegyir – MSc International Business Consultant, Coach & Speaker
Pitch Your Business Like a Pro
© 2014 by Victor Kwegyir
All rights reserved. No part of this book may be used, reproduced, stored in a retrieval system or transmitted, in any form or by any means, including mechanical, electronic, photocopy, recording, scanning and methods not invented or in common use at the time of this publication, without the prior written permission of the publisher.
Published by VicCor Wealth Publishing www.vikebusinessservices.com
First Edition ISBN: 0956770630
ISBN-13: 978-0-9567706-3-9
ISBN-13: 978-0-9567706-4-6 (E-book)
Printed in the United Kingdom and the United States of America
To request Victor for speaking engagements, interviews, proposal writing, coaching or consultation services, please send an email to: victor@vikebusinessservices.com
Victor’s books are available at special discounts when purchased in bulk for promotions or as donations for educational and training purposes.
LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher and author are not engaged in rendering physiological, financial, legal or other licensed services. The publisher and the author make no representations or warranties with respect to the completeness of the contents of this work. If expert assistance or counseling is needed, the services of a specific professional should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that an organization or website is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information that the organization or website may provide or recommendations it may make, nor does the cited organization endorse affiliation of any sort to this publication. Also, readers should be aware that due to the ever-changing information from the web, Internet websites and URLs listed in this work may have changed or been removed. All trademarks or names referenced in this book are the property of their respective owners, and the publisher and author are not associated with any product or vendor mentioned.
DEDICATION
I dedicate this book to all entrepreneurs and aspiring entre- preneurs seeking valuable support to make their business dreams a success, and to all my beautiful nieces and handsome nephews—Nana Efia Serwaa Fordwuo, Maame Abena Antwiwaah Osei-Fordwuo, Oheneba KB Osei-Fordwuo, Jessica Boachie-Danquah, Jerry Boachie-Danquah Jr., Delasi Kobla Kutsienyo, David Sarfo and Evangel Agyemang-Yeboah
who I believe will grow to become great entrepreneurs and business owners of their generation.
ACKNOWLEDGMENTS
My first passion is sharing quality information that inspires readers and informs them in their quest to find meaning in their life and success in fulfilling their business dreams. Many people have also inspired, supported and encouraged me over the years to make this passion my life’s work. To all these great pillars along the path of my life and professional journey, thank you very much.
Thank you to my pastor, Pastor Matthew Ashimolowo, President and Senior Pastor of Kingsway International Christian Centre (KICC), for who you are and your great support, encouragement and inspirational teachings that constantly stir and help quicken us even when we feel like throwing in the towel. I am so blessed to sit constantly at your feet to learn, not to mention the great platform opportunities you gave me when I was unknown professionally. I am so grateful and will forever be.
Thank you to Pastor Ade D’Almeida of KICC for the awesome support, counsel, thoughts and shared ideas, each of which has been exceptionally helpful and made the journey worth- while.
Thank you to Mr. Godfrey & Mrs. Kemba Agard, also of KICC. You have become a great friend, encourager, supporter and an immense help. Only the Lord, whom we serve continually, can help me appreciate you.
Thank you to my great friend Michael Ajose, a Technical Analyst at the London Stock Exchange. Your friendship, prayers, encouragement, thoughts and help are always very much appreciated.
Thank you also to Dr. Thomas Lawrence, Chairman, Omega- Butler International - London, Fort Worth, Hong Kong, Port Harcourt; Thank you also to Mr. Sam and Mrs. Vero Acquaye, Director of Finance & Administration, Universal Merchant Bank Ltd., Accra, Ghana; Mr. Atto Esiam, Head of Operations, TF Financial Services, Accra, Ghana; Mr. Thomas and Mrs. Wilhelmina Andoh, East Hampton, Connecticut, USA; Mr. Kennedy and Mrs. Sarah Dosomah, Cardiff, Wales; Ms. Bridget Bempong, Tema, Ghana; Mr. Olayinka & Mrs. Oluwakemi Babtunde of Dominionglow Ltd., London, UK; Minister Joseph & Mrs. Bunmi Adaran, KICC, London, UK; Mr. & Mrs. Akinleye Olu-Philips, CEO & Director, PDR Media Services, Lagos Nigeria; and Ms. Annette Wutoh, London, UK. Most of you will never know the full extent of how something you said, shared, helped me with or provided for me contributed to my ability to write this third book.
Thank you to my immediate family: Mr. Sylvester and Mrs. Theodora Osei-Fordwuo, owners of the Afrikan Grill, Aurora, Colorado, USA; Ms. Natalia Kwegyir, Ghana; Mr. Jerry and Mrs. Dorothy Boachie-Danquah, Ghana; Mr. Lawrence and Mrs. Marian Kutsienyo, Ghana; Mrs. Coretta Kwegyir, my wife; and Mrs. Agnes Kwegyir, my mum, USA. I appreciate you all for your love and prayers. May God richly bless you.
Thank you to my valuable clients for the great experience I’ve gained in working with you.
Above all, thank you to God and Jesus Christ, my Lord and personal saviour, who is my source of life, my constant inspi- ration, my strength, my guide and the provider who makes all things possible for me.
Introduction
Pitching is part of business and life as a whole. We pitch our skills to employers for that job opening we so desire, we pitch our products or services to clients to win their hard earned cash and our business or ideas to investors and potential partners to win much-needed support, collaboration or an injection of vital funds for growth and expansion of the business.
Most people, however, find even the thought of pitching an idea daunting and would give almost anything not to have to do it. But new entrepreneurs, especially, need to learn the art of pitching effectively in order to win investor backing to move them forward toward the realization of their business dreams.
Anyone interested in becoming an entrepreneur or owning a business has probably watched TV shows such as Shark Tank (USA) and Dragons’ Den (UK) where entrepreneurs pitch their ideas and businesses to established, self-made millionaires and billionaires. While a few participants end up bagging a deal with these investors, many others end up infuriating the panel by failing to answer vital questions, overlooking essential basic facts in their pitch or simply being unprepared for any meaningful dialogue with the experienced panel of investors. Many of these problems could have been avoided if a little more effort had been applied and expert guidance sought on how to manage the pitch to their advantage to secure the valuable investment lifeline or much-needed partnership. Of course not all failed pitches mean the person pitching didn’t do a good job, just as not all well-presented pitches result in getting an investor on board. However, as Shark Tank and Dragons’ Den vividly demonstrate each week, having a well-crafted and well-presented pitch can dramati- cally increase the chance of success.
Business pitching opportunities have become somewhat more common due to the popularity of these TV programs, with corporate entities and grant organizations sometimes embarking on pitching competitions in which individuals or organizations pitch their business ideas or social enterprise vision for cash and mentorship support. The London Evening Standard newspaper, for example, sponsored the Frontline London Campaign, a series of pitching sessions, to find 10 social entrepreneurs to back financially from among youths with troubled backgrounds in the UK. The US-based Black Enterprise website and magazine, which encourages black entrepreneurship, sponsored the Best Pitch Contest to give budding entrepreneurs the chance to pitch their business ideas before a panel of angel investor judges and a live audience with the hopes of winning valuable prizes and business resources.
While these programs and competitions have added some opportunities for pitching