Pitching a business idea to potential investors can be a daunting task. The fate of the business depends on the amount raised from the pitch. If investors are willing to fund the entire business, it would be great. Even partial funding can go a long way. However, it can also be disheartening if the decision is to reject your pitch. It doesn’t only reflect your inability to convince the investors, but your ideas might also be terrible. Preparing for the presentation helps a lot. The investors might be tough, but they are open-minded. They will accept business ideas deemed feasible and reasonable.
However, even if you prepared for the presentation, things might not go as expected. During the part where investors have to ask questions, you might fail to provide excellent responses. You will also consider asking someone else in your team to help out. Does it hurt your chances of getting the approval of the investors? The answer is both yes and no.
It’s a reflection of your lack of understanding
Not being able to answer questions shows that you didn’t prepare well. You might also heavily rely on your staff to do the heavy lifting. It also shows your lack of sincerity in what you’re pitching.
If you are sincere in your pitch and understand the details of the business idea, you can answer most of the questions. You won’t fear even the questions you deem tricky.
Trusting others is a good thing
The other side of the coin is that your ability to rely on others shows that you’re that kind of leader. You don’t take credit for everything. You trust others to do some tasks. A leader who is also a good team player is an advantage. Many investors like working with someone who displays such a characteristic.
Ask if necessary
Since it’s quite tricky to decide whether you will refer to someone else or not, you have to limit doing it. When you know the response, you have to try your best to answer. If uncertain about your answer, you have to be honest about it. The investors will understand that you don’t know everything, and you might be unsure of some answers. It’s better to do it that manner than to pretend you know everything. Showing humility is another plus factor.
Prepare the meeting room and yourself
Asking questions to your staff is only an aspect that the potential investors will consider. They won’t finalize their decision based on that action. They will look into other aspects of your presentation, especially the content of what you’re saying. If you deliver an impressive pitch, the investors will have a hard time saying no. Another thing to consider is the venue of the pitch. It should be in a comfortable place. It shows that you also care about your audience, and you want them to feel good during the entire presentation. Sometimes, it can go on for hours, and it’s not the best experience. Having a projector ceiling mount in the meeting room is also a good thing. It makes the presentation easy to follow and understand.
Hopefully, the investors decide to accept your pitch and give your ideas a shot.