Have you ever watched Dragons' Den ? One blogger shares the seven lessons it taught her about obtaining financing.
Dragons' Den is a reality tv show featuring entrepreneurs pitching their business ideas in order to secure financing from a panel of venture capitalists.. Kim Auclair, blogger for LesAffaires.com, used this show as an opportunity to spark an online conversations about corporate financing.
She shared seven tips for entrepreneurs pitching business ideas to investors:
Analyze your needs and available financing options, then test your "pitch" on friends and family.
By telling the story of how your idea came to be, and how your project has turned out, you allow the investor to assess you as an entrepreneur.
Be clear about what problems your business will solve, in order to demonstrate its relevance.
Express yourself clearly by explaining the project in simple language. Even if the investor isn’t familiar with your industry, they’ll be able to understand you.
Make sure you present a solid business plan. Explain your vision and plans for the future, and demonstrate your confidence in the success of your business by showing that you have tested it and that consumers have benefited from it.
Don’t try to impress investors by not telling the whole truth or by avoiding sensitive topics.
Express your creativity in order to share your passion and leave a lasting impression on investors.
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