GoForth Institute | Canadian Entrepreneur Training

Time 2020-11-08 23:10:00

Web Name: GoForth Institute | Canadian Entrepreneur Training

WebSite: http://canadianentrepreneurtraining.com

ID:109479

Keywords:

Institute,GoForth,Canadian,

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Pitching your small business idea to an investor can seem daunting, and it can seem hard to know what to prepare for. When getting ready for your small business pitch, try to have answers ready for these 6 common questions that investors often ask entrepreneurs:What is your business all about? (Discuss your company, what you do, why you’re so special – in the shortest possible amount of time).What will prevent others from doing what you’re doing, or, what’s your competitive advantage?What are you going to do with the money you raise?Who’s your target market and why will they buy from you?What s your marketing strategy?What does your venture/management team look like?Though these are 6 of the most likely questions, every investor will have their own things they want to ask you. You can’t prepare for every question, but getting the basics nailed down will help.Check out our tips for pitching to investors – and good luck!Share this post: Topics: Entrepreneurial Inspiration, GoForth Institute Small Business Training, Small Business Tips and Advice | No Comments We know that making pitches to potential investors or customers can be nerve-wracking, so here are seven tips to help you get prepared:Know your numbers. Familiarize yourself with the basics: things like yearly sales (volume and dollar amount), cash flow projection and net worth.Know your business. You should be able to describe your business model, explain what unique need your small business fills, who your competition is and your marketing and sales plan – to name a few.Research your potential investor or customer so you can speak accurately to what they’re looking for – and so you know what issues may arise.Act natural! Pitching your business is certainly something that can feel intimidating. But be professional, friendly and try to relax! Your investors are looking for someone great to work with as well as a great business to invest in.Practice in front of your business partners, trusted friends or family or even in front of your mirror. This will help you pinpoint strengths or missing pieces, and give you confidence if you need to go off-script. Be concise. You might have five minutes to make a pitch, or you might have 30 seconds. Prepare a few pitches of varying lengths that get the point across and sound compelling.Put yourself on the other side. If you were being pitched to, what questions would you ask? Make a list of these questions to help you become better prepared.What materials should you have when pitching your business to investors? Check out our blog post here to find out!Share this post: Topics: GoForth Institute Small Business Training, Small Business Tips and Advice | No Comments This year s pandemic has changed almost everything about doing business, not least of all networking. Once a mostly in-person social thing, more and more of us are having to find ways to make new connections without leaving home.An entrepreneur s network of personal and professional contacts is one of the key factors in success, particularly in the pre-startup period. Here are some ways you can network virtually during the pandemic.Turn to your existing contactsMany businesses have had to pivot and adapt since COVID-19 became a fact of life. This means that many of your existing contacts might love to hear from you. There might be a new business idea or a new connection to be made. You may be able to team up to virtually host an event for others. And it s also just nice to be able to reconnect with someone you might not have spoken to for a while, especially when social events are no longer a viable option. After all, what is networking if not creating relationships?Change your social media strategyWhat social media channels are you using? Are they working for you, or against you? The pandemic is an ideal time to get more involved in social media. After all, many of your existing and potential customers are probably using social media more than ever. Get inspiration from those who have seen success (but don t copy), or take training that incorporates the latest trends, news, and strategies companies such as Later offer free webinars and videos full of good social media advice for small business owners.Investigate virtual conferencesMany industry conferences have been cancelled due to the pandemic, but many have kept going in a virtual format. Some are specifically made for networking, while others are slightly altered versions of traditional programming. In any case, look for opportunities to chat with other attendees or engage on social media conversations around the event.Reframe your networking perspectiveNow that networking events no longer require event space, catering, and a huge budget, there are interesting opportunities available that you can take advantage of. Because everyone is accustomed to virtual events this year, you can extend your networking reach into different regions and even different countries. You may even be able to spearhead industry-specific networking events, whether it s a small, informal information-sharing session between a handful of people, or a larger-scale, scheduled virtual event. Think of ways you can reach out and get to know people that you might not have been able to before.Share this post: Topics: Entrepreneurial Inspiration, Entrepreneurship News, GoForth Institute News | No Comments Keep In Touch GoForth Institute's blog, written for anyone with an interest in small business and entrepreneurship, is your source for news, important small business topics and helpful advice.Enter your email address:Delivered by FeedBurner

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