After spending months or even years developing a dynamic product or service and working out the intricacies of your new business, you are finally ready to launch your startup. However, many fledgling entrepreneurs have insufficient capital on their own, so they need to obtain outside financing.

Here are some strategies you can use to successfully pitch to investors.

Research the Investors

Before you pitch to potential investors, conduct enough research to ensure that they are legitimate and that they have sufficient funds to meet your needs. You can do this by visiting their websites and analyzing their present client portfolios. Be sure you also learn their investment requirements. For instance, find out if they require a stake in your company in exchange for the capital you need.

Create a Business Plan

A detailed business plan demonstrates your level of professionalism to investors. This should include an executive summary, a description of your company, a statement of its goals, and a delineation of its legal and management structure. You should describe your products or services and outline the marketing and sales strategies you’ll use to promote them. A financial analysis should indicate the current state of your company finances and projections for the future. Don’t neglect to include all necessary documentation in the appendix.

Have a Proof-of-Concept

A proof-of-concept is something specific that demonstrates to investors that you have gone beyond the theoretical and into the practical stage of your business. Valid proofs-of-concept could be working prototypes of products, finalized client contracts, growing traffic at your website, or a team of employees already in place.

Specify the Amount You Need

When approaching investors for funding, don’t be vague about your company’s needs. Analyze your financial requirements, and be specific in your request. Detail the expenses the funds will cover and how you plan to manage debt repayment.

Practice Your Pitch

Prior to presenting your pitch in front of investors, be sure to practice. Going over it first has several advantages. Not only can you work on the timing, but you can also fine-tune the narrative so that it becomes more emotionally engaging.

For more advice on pitching to investors, contact Integrity Financial Capital.