Business Angels play a key role in the development of many companies, without which they would never have seen the light of day, both through their financial contribution and through the support and advice that helps to complete their project or develop a company to get around. the pitfalls that arise.
If workshops at entrepreneurship fairs are dedicated to winning Business Angels, it is because they are at the core of corporate development and sustainability in the short and long term. In order to attract Business Angels and therefore obtain their financial support, an entrepreneurial approach is needed to make them decide to invest. Here are a few tips.
Prepare well and therefore prepare your argument carefully.
During your presentation, the exercise is to make a power point presentation. However, project managers often produce slides, not for their audience, but for themselves. It is crucial to understand that this presentation is only a first approach. Then comes the time, if you have caught their attention, more specific requests that you will of course have prepared …
Create slides yes, but it makes sense
To reassure themselves, some transform the slides into a novel, while the slides must be powerful and serve only as support for the oral presentation. They need to gather the essential information.
Insert essential information
- The founder (s) (role, background) because what is often at the center of the investment is the project manager or team. When it comes to a team, it is necessary to highlight the role of each individual, complementarity. If you are on your own, show what your recruitment needs will be, when you want to recruit, and how to achieve it.
- The product and its advantages, its positioning in relation to the competitors (we always have a competitor !!!). It cannot be ruled out that the competitor is an indirect competitor.
- The sources of profitability
- The development and the first advances in your project
- The commercial strategy, the more global strategy and a summary of the strengths.
But above all, never forget one crucial point for business angels: what you want to earn on the money in case of an investment. Obviously, the fundraising goal should be the core of your presentation.
Prepare a flexible speech
Prepare a flexible speech in relation to the duration of the presentations in front of Business Angels: 5min, 7min, 10 min … and above all learn it by heart because improvisation is not appropriate. Many projects are presented in one session, so you will need to master your speech fully if you want to stand out from your competitors.
Prepare for the Q&A session
Anticipate questions well, and make introductions to your friends to see what questions they can ask you. If a question pops up, it means there is a defect and therefore add a slide that answers it. You can also voluntarily leave this blank so that you will be asked the question if the answer highlights you.
In conclusion, this is a difficult exercise and you will often only have one chance to present in front of each network. So make time for it.
A few questions that will help you build your presentation
- Your project: What are you doing ? What is your product, what is your service? What will it bring?
- Your customers: Who are your customers? : Who is your goal? What need does your project meet?
- Your team : Who are you, what is your team? Why are the team’s skills complementary?
- Your development opportunities: What are your strategic development opportunities in the short term (1 to 2 years, then 5 years), medium and long term
- Your business model: What is your “business model”? How do you want to make money?
- Your business strategy: Do you have customers? How will you approach them?
- Your future employees: How much do they cost ? Which profile?
- Your competition: What is the competition? How do you position yourself in relation to her?
- Your valuation of the company: How much will the company be worth in 5 years (or 6 or 7) What are the value added opportunities for the Angel business? How much is it worth at the moment?
- Your expectations for Business Angels? : Money, how much? To do what? For what percentage? What skills (an angel likes to feel that his skills are needed)
You need to show that you have perfect control over your project. And above all, do not hesitate to train !!!!!