Quite a number of entrepreneurs have a habit of making the same mistakes when trying to convince investors- the common mistake they make trying to convince them with their pitch, PowerPoint slides and fancy presentations.
Sorry to burst your bubble, but this is not how it’s done. Some of you are better letting the business do all the work itself…
You might ask, “How on earth is this done?” Well you can do so by fully understanding why your business is worth investing in. After coming up with an answer, simply explain it to investors and get their attention.
Like we mentioned in our previous articles, most investors will make a decision within the first few minutes if you and your business are worth investing in.
With that being said, let’s have a look at the main tips in convincing investors you can sell.
#1. Prove that customers value your product
It’s one thing to develop or manufacture a product, but making it valuable in the market is something else and quite tricky.
Promoting a value, instead of price, includes a balance of confidence, individual rapport, and in-depth research, and it can be become extra complex as technological know-how offers consumers better access to cost valuable data and competitors.
So prove your worth and get those investors!
#2. Be Honest (Tell the Truth)
In order to earn the respect and galvanize investors, you have to be honest.
Don’t attempt to acquire their resources when you’re not certain as to whether or not your concept is feasible. Sound extra confident when you’re telling the facts.
The only way to stand out as an entrepreneur seeking investors is by simply telling the truth.
Convince investors that you’re different from everyone else. Show them that you have a new approach to the problem.
The ability of people who are good at seeming outstanding is their ability to convey the truth which in turn, most often leads to the most prized of all commodities. Trust.
#3. Know your sales metric’s cold
Monitoring this metric over time is absolutely crucial. Declines in the earnings of specified merchandise would mean new product models are required. A rapid increase in a product’s sales would help you determine if it’s on high demand.
However, most entrepreneurs fail to make this precaution, thus as a result, they can’t increase their sales, because figuring out your metrics has a huge influence on your sales growth. As soon as you know your metrics, then you can make some adjustments towards your company’s best interests. Sales due to this fact skyrocket and your competition will get left in the dust.
#4. Analyze your earnings metrics to identify approaches to improve
This recommendation is somehow similar to the previous point stated above, but digs deeper.
Analyzing your metrics allows you to search out the root of sale’s success or failure. In the event your sales are dropping, you may discover it was the result of a decrease in sales per phone call. Through changing the script your phone staff uses, perhaps you can get to the bottom of this quandary.
This sales business is a game. If you go to more events, interact with more people, speak to more prospects, etc. you’ll definitely boost your sales.
#5. Figure out the sales model that works for your business.
The manner in which sales are made by companies or organizations in some cases are similar, but could be quite different in other cases.
Some are better off letting the same person to close deals, while others better with experts each role.
Take PetPartner for example, an App company that figured out why they are better off using different people to open and close deals. They believed that that approach gets them higher sale rates for their industry.
Take time with your colleagues and figure out the best strategy that works for you.
When you’ve been searching for a while but haven’t gotten anyone to invest in you, it can be even tough. Simply be candid about what made traders hesitant about you.