“In the Business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later.” – Harold S. Geneen
Becoming an entrepreneur is a thrilling and amazing feat. Every business impresario will tell you there is nothing like literally seeing an idea that started in their mind transform into tangible reality. How well you can execute the transformation of an idea into a potentially highly-successful business depends on you knowing what your idea is worth in the first place.
More importantly, you need to have the skills to translate imagination into action. Sadly, some business ideas never get past being castles in air while some ideas are easy to take forward and flourish. So how do you ensure that your business idea converts and sees the light of day? Equity crowdfunding is one groundbreaking opportunity that is creating a plush meeting ground for innovators and investors
So now the question is, once presented with the platform, how does one create an investor-ready pitch? Let’s take a look at some of the basic steps every startup business should have in the bag.
- Develop a value proposition
In a few short sentences, summarize what your business does, who your target market is and explain how it will be successful.
Answer these questions in your summary: What problem does your business solve? What are the benefits of your business? Why would your target market buy your offering instead of your competitors?
Important to remember:
- Keep your summary short (3-4 sentences).
- Be to the point and specific
2. Set a funding goal (that is within your reach)
Setting a target for your business that you believe you have the ability to achieve is essential.
Answer these questions: Who is your target market? Look at your network of friends and family. How large is it? Are they willing to invest? Do you have other people you believe would be willing to invest in your business?
3. Valuate your business
Asses the value of your business in relation to the amount of equity you wish to give away in exchange for capital. Clear, well presented and concise financial documentation is required to ensure your potential investors understand your business model and have enough information to make a knowledgeable judgment about the potential of your business.
4. Have an Exit strategy
Your exit strategy outlines how Investors will make a return on their investment.
5. A detailed Marketing Plan
Marketing must-haves include a marketing budget, content calendar for both digital and print media, social media strategy, involving influencers and paid advertising.
6. Establish your Branding
Logo and signage are essential in establishing your brand identity.
Once you have followed these basic steps, you would have laid the foundation to build a well-fortified business pitch. There is still a whole lot more that goes into actually implementing a pitch. Uprise. Africa, South Africa’s first equity crowdfunding platform, recognizes the need to groom innovators to access resource pools essential for business growth. We strive to help our entrepreneurs through all these crucial steps.
For more pitch tips and to find out how you can register with Uprise.Africa
An experienced Journalist cum Digital Marketer who has worked in Media and Marketing in various Southern African countries for close to 15 years. An avid reader, she is passionate about fostering a reading and academic culture especially in young Africans. She enjoys travelling, meeting people from a broad cultural spectrum as well as engaging people in topics that are informative, entertaining and insightful. Grace is currently an Accounts Manager and Content Writer for CreativeMagic Group.