This is the video from the webinar "How to make investor love your startup". You will learn how to prepare a successful pitch, which tricky questions to be ready for and what points to discuss with an investor
If an investor asks you “What is your exit strategy?” - what would you say?
This is just an example of a question that you would hear from an investor. Don’t be surprised with the question - the main information that the investor is expecting from you is something to ensure that he will be able not just to get his money back, but also to earn much more on the deal. Impress your investor with the knowledge of the market, be confident and do not say “I don’t know” - these are just a few small tips that you can use during your pitch.
Wait, wait, what has just been said does not mean that you should lie. If you do, it will be understood during negotiations, and it won’t help you to get the money.
First, do your homework - research the market, see what the competitors are doing, do customer development - make sure you understand people who you are making your product for! Let us guess, you have a few objections?
Well, we can foresee those ones, for example:
- there is no market, we are producing a completely new product;
- again, there is no market, meaning no competitors,
- customers are waiting for the ready product, how can we go to them with empty hands?
- we do understand - the problem is so obvious!
We stop here for now.
Yes, you might be creating the market, but how many people would potentially use your product - take the number, then start your calculations from that.
No competitors - are you sure? Maybe there are some other ways to solve this problem. If not, are you sure, that the problem really exists and it is not only in your head?
Customers will just love your solution - how do you know without talking to them directly? Maybe you are a part of this target audience, but you are 1 out of thousands, millions?.. Go ahead and discuss the issue with others and see if your product is needed, before even starting to develop it.
And so on and so forth.
These are just few examples of questions you might get and objections that might occur in your mind - be aware of them!
We have dicsussed more tricky questions from investors at our webinar, you can see the video here: