Ladies have extra of a problem than males on the subject of elevating cash. In accordance with Fortune Journal, all-women groups raised solely 2.2 p.c of accessible capital in 2017, versus 79 p.c for all-male groups. To deal with this imbalance, girls have to be keenly conscious of what it takes to make a profitable pitch to traders.

Because the founding father of the Subsequent Act Fund, a woman-focused angel fund, I consider that the next options for feminine founders looking for funding may make all of the distinction in your success (or failure) when elevating capital.

A $10K Grant for Your Household Enterprise? Take a look at Verizon Small Enterprise Digital Prepared.

Construct your community

Even earlier than you’re prepared to start out fundraising, it’s a good suggestion to start out constructing and enhancing your community. Begin by exploring the angel investing and entrepreneurial ecosystem in your market. Who and what are the sources of capital? Do your homework. Discover out who these people or teams are. What’s their background, and what sorts of alternatives do they spend money on? Who have you learnt who is aware of these individuals?

Keep in mind, you’re searching for the most effective match for your small business. You don’t have to pitch everybody. Whereas you need to be open to all pitch alternatives, you must also discover the chance to pitch in entrance of female-focused angel teams. This recommendation additionally goes for extra numerous angel teams and VCs that higher signify the world wherein we stay.

Apply your pitch

It’s worthwhile to be the easiest gross sales particular person in your concept. In any case, nobody else can pitch this concept higher than you possibly can! Develop and work in your pitch till it simply can’t be any higher. Spend the time to follow and be ready to reply questions. Know your concept and your small business inside out.

Should you get the possibility, attempt to watch different people pitch their companies with the intention to be taught from them. If you follow, make certain to get suggestions from trusted advisors or buddies. You solely have a couple of minutes to promote your concept and make angels wish to spend money on you, so make them rely!

Associated: Prime Small Enterprise Grants for Ladies and Minorities

Imagine in your self and your small business

Present your experience, your confidence and your grasp of the numbers. You’re your small business within the eyes of the traders. Keep in mind, we’re investing in you and your concept. Now we have to be satisfied that you’re the particular person to do the job, and you’re the one who will make that occur!

Apply your storytelling expertise

Grow to be a superb storyteller, and keep in mind, “Buyers spend money on issues they perceive.” If traders usually are not probably to make use of the services or products that you simply’re pitching, they should perceive what drawback you’re fixing and the way it will change {the marketplace}. Who do they know that will be impacted by your services or products? You’ll have to reply this query by telling a narrative.

Know your numbers

Use actual knowledge to assist help your concept. Get suggestions from potential prospects which you could share in your pitch. Outline the market alternative and market measurement.

What does the house you’re disrupting appear like? How is your services or products distinctive and the way are you defending your concept?  Share your potential gross sales plan and advertising and marketing method to generate progress.

Discuss up your group

Discuss your group and your advisors. How are they related to your small business and what is going to they have the ability to do for the corporate? In case you have prior (related) expertise, make certain to share it.

Share your marketing strategy

Describe the marketing strategy and financial mannequin in your services or products. How will you earn money? What’s the potential income plan and how much margins are you able to count on?

Discuss your progress technique. Be lifelike, however assume large. Who’re your present shoppers (or beta shoppers) and what’s your probability to generate income? How quickly will this occur?

Be clear about your ask

Remember to state particularly how a lot cash you’re asking for and what you intend to do with it. What is going to the funding provide help to do? How will it get you to the subsequent stage of progress?

Signal Up: Obtain the StartupNation publication!

Have an exit technique

Buyers are involved in your exit technique, so make this part of your pitch. What does the panorama appear like for an exit? Who do assume are potential acquirers? Do you’ve any connections to those corporations which you could leverage when the time is correct?

Comply with up after your pitch

After you’ve pitched your small business, make sure to comply with up inside 24 hours to reply any questions. This provides you a chance to make clear any points, permits you to make one other touchpoint, and reveals that you’re up to the mark. It may additionally provide help to stand out, as a result of not everybody takes this step!

Keep in mind, you solely want one “sure” to get the ball rolling! Use the next tricks to get your entrepreneurial desires funded, and also you’ll be one step nearer to startup success.

This text was initially printed in October 2018.