Archive for the ‘Social Entrepreneurs’ Category
10 Tips for a Successful Entrepreneurial Pitch
One of the hardest presentations to make is the entrepreneurial pitch. You have a great idea for a business and you want someone to give you money to make it happen. The problem is that venture capitalists, angel investors, and even rich uncles are heavily predisposed against you. Why? Because 99% of the pitches they hear sound like sure-fire prescriptions to lose money!
If you are pitching investors to give you money for a new venture, you should subscribe to the following rules:
1. Explain exactly what your business is within the first thirty seconds. Many entrepreneurs waste valuable time giving loads of data, background and other info—all the while investors are left scratching their heads thinking “What does this business actually DO?”
2. Tell your audience who your customers will be. Paint a vivid, specific picture of these people.
3. Explain why your customers going to give you there hard-earned money.
4. Explain who your competitors are. (And if you say you have no competitors, that is a certain sign you are unsophisticated and deserve no investment money!)
5. Explain why you are the ONE to make this happen.
6. Give your presentation with confidence and enthusiasm. Investors want a founder/CEO to be a chief salesperson; they want to see that you can convince the world of your dream—not just them.
7. Explain what star you can hitch a ride to. Has Best Buy or Radio Shack agreed to distribute your new product? Investors feel much more comfortable knowing you have an established player willing to distribute your wares.
8. Ask for a specific amount of money. If all you do is ask for money, then you can’t complain if an investor gives you $3.25 for a cup of Starbucks coffee.
9. Tell prospects exactly what you are going to spend the money on (hint:a trip to Maui for you and your friends will not impress)
10. Dress well, act confident, and put on the air that you don’t really need their money, but would be willing to accept it if they bring enough to the table to be a strategic partner for you. Sad but true regarding human nature, but people are much more likely to give you money if they feel you don’t really need it.
Finally, make each pitch presentation serve as a focus group for your next presentation. When one group of investors asks you a series of questions after you pitch, write down all of those questions and make sure most of them are answered in your next pitch so that the next group doesn’t have to ask them. Keep pitching and keep improving your pitch and eventually you may get funded.
10 Sure-Fire Steps to take the Fear out of Public Speaking
Do you “feel the fear” when asked to do some Public Speaking?
Public Speaking is still one of our greatest fears and it turns grown men and women into nervous wrecks. The mere thought of it turns our tongue to cotton wool, causes our internal plumbing to act up and turns our knees to jelly.
Well, there’s no need for all of this because help is at hand. All you need to remember are your P’s and Q’s. Let’s start with the P’s
Preparation -
When you sit down to write what you’re going to say, bear in mind who you’ll be speaking to. Will they understand what you’re talking about; will they understand the technical stuff and the jargon? If in doubt remember the old saying – “Keep It Simple Stupid”.
Make sure that what you say has a beginning, middle and an end. Think of some anecdotes that help reinforce your story.People think visually so paint verbal pictures for your audience. And always remember, people want to know what’s in it for them – so make sure you tell them!
Place -
Have a look at the venue before the event if you can. It’s not always possible, however, even if you get there half anhour before, you can check out where you’ll be speaking.
Stand at the point where you will deliver from, imagine where the audience will be and check that they can see andhear you. You may even wish to place a glass of water whereyou’ll be able to find it.
Personal Preparation -
Before any Public Speaking event, think about what you are going to wear; when in doubt dress up rather than down. You can always take things off for a more casual look. Men could remove their jacket and their tie. Women could remove items of jewellery.
Part of your personal preparation should include some mouth and breathing exercises. Practise saying some tongue twisters to give your speaking muscles a good work out. Take a deep breath and expand your diaphragm. Then breathe out, counting at the same time; try and get up to fifty and not pass out.
As part of your personal preparation, write your own introduction. Write out exactly what you want someone to say about you, large font, double-spaced and ask the person introducing you to read it. Believe me they won’t object and will probably be pleased and impressed.
Poise and Posture -
Whenever you’re called to speak, stand up or walk to the front quickly and purposefully. Pull yourself up to your full height, stand tall and look like you own the place. Before you start to speak, pause, look round your audience
and smile. You may even have to wait until the applause dies down. Remember, you want the audience to like you, so look likeable.
Pretend -
I’m suggesting you pretend you’re not nervous because no doubt you will be. Nervousness is vital for speaking in public, it boosts your adrenaline, which makes your mind sharper and gives you energy.
The trick is to keep your nerves to yourself. On no account tell your audience your nervous; you’ll only scare the living daylights out of them if they think you’re going tofaint.
Some tricks for dealing with nerves are:
Before you’re called to speak, get lots of oxygen into your system, run on the spot and wave your arms about like a lunatic. It burns off the stress chemicals.
Speak to members of your audience as they come in or at some time before you stand up. That tricks your brain into thinking you’re talking to some friends.
Have a glass of water handy for that dry mouth. One word of warning – do not drink alcohol. It might give you Dutch courage but your audience will end up thinking you’re speaking Dutch.
The Presentation -
Right from the start your delivery needs to grab their attention.
Don’t start by saying – “Good morning, my name is Fred Smith and I’m from Smith Associates.” Even if your name is Smith, it’s a real boring way to start
a presentation. Far better to start with some interesting facts or an anecdote that’s relevant to your presentation.
Look at the audience as individuals; it grabs their attention if they think you’re talking to them personally.
Talk louder than you would normally do, it keeps the people in the front row awake and makes sure those at the back get the message. Funnily enough, it’s also good for your nerves.
PowerPoint -
And for those of you who haven’t heard of it, it’s a software programme that’s used to design stunning graphics and text for projection onto a screen.
As a professional speaker, I’m not that struck on PowerPoint. I feel that too many speakers rely on it and it takes over the presentation. After all, you’re theimportant factor here. If an audience is going to accept what you say then they need to see the whites of your eyes. There needs to be a big focus on you, not on the technology.
Use PowerPoint if you want but keep it to a minimum and make sure you’re not just the person pushing the buttons. Why not get a bit clever at using the faithful old Flip Chart, lots of professionals do.
Passion -
This is what stops the audience in their tracks. This is what makes them want to employ you or to accept what you’re proposing. Couple this with some energy, enthusiasm and emotion and you have the makings of a great public speaker.
Give your presentation a bit of oomph and don’t start telling me – “I’m not that kind of person.” There’s no need to go over the top but you’re doing a presentation to move people to action, not having a cosy little chat in your
front room.
That’s the P’s finished, so let’s look at the Q’s.
Questions -
Decide when you’re going to take them and tell people at the start. In a short speech it’s best to take questions at the end. If you take them as you go then you may get waylaid and your timing will get knocked out.
Never – never – never finish with questions; far better to ask for questions five or ten minutes before the end. Deal with the questions and then summarise for a strong finish. Too many presentations finish on questions and the whole thing goes a bit flat.
When you’re asked a question, repeat it to the whole audience and thank the questioner. It keeps everyone involved, it gives you time to think and it makes you look so clever and in control.
Quit -
Quit when you’re ahead. Stick to the agreed time; if you’re asked to speak for twenty minutes, speak for nineteen and the audience will love you for it. Remember, quality is not quantity.
One of the most famous speeches ever – “The Gettysburg Address”, by President Lincoln, was just over two minutes long.
Right, that’s my cue to quit when I’m ahead. Now that you’re armed with this information you too can minimise your fear of Public Speaking.
5 Tips to Help You Market When You Think You’re Too Busy
What if you’ve taken the time to create a marketing plan but now you’re so busy servicing your current clients that you’re having a hard time keeping on track with your plan?
Is it okay to set the plan aside for awhile? After all you’ve got enough business to keep you busy. And, you’re not sure you could handle additional clients right now anyway.
While marketing may not seem like a necessary activity when your business is going gang-busters, it’s only a matter of time before your lack of marketing starts to impact your business.
Staying on top of your marketing plan, even when you’re busy, ensures you always have a pipeline full of prospects and clients into your business.
While you may be busy right now, if you stop marketing for the next three months, you may find yourself high and dry when it comes to clients, because you’ve stopped the flow.
As an independent professional myself, I can totally relate to being too busy to market. It seems the days are never long enough to get everything on my to-do list done. But as a marketing professional I know I can’t afford to NOT get my marketing done.
So what’s a busy gal (or guy) to do?!?
Here are 5 suggestions … these are things I do and recommend to all my clients in my 10stepmarketing System.
(1) If you haven’t already, create a marketing calendar. Schedule all of your marketing activities in the calendar according to how frequently you planned to do them in your marketing plan.
If you planned to do something monthly, enter it on the calendar once each month. Weekly? Enter it four times per month. Do this for every planned activity.
(2) Hang your marketing calendar over your desk on a bulletin board or on the wall. Make a habit of looking at it every morning. This way you won’t have the problem of “out of site out of mind.”
I can’t tell you how many clients I’ve had whose marketing plans have ended up in a file folder in a drawer. You’re certainly NOT going to grow your business that way!
(3) Try incorporating your marketing activities into your weekly and daily to-do list. Enter the activities as to-do tasks in your calendar or PDA just like all your appointments and other business activities.
I do this with all my marketing activities. I use Microsoft Outlook and a Pocket PC and it’s the only way I know I’ll keep myself on track. If something is on my calendar, I treat it like any other meeting or appointment and I do it.
For example, every Wednesday, a little notice pops up to remind me to write my weekly ezine. If that didn’t happen I’d either be writing it on Monday’s at midnight, or it wouldn’t get done.
(4) Pick one day per month to review your marketing calendar in detail and to look three months ahead. What is coming up that you need to prepare for now? What do you need to transfer into your to-do list or PDA to make sure you don’t forget to do it?
I usually do this at the end of the month when I’m doing all my month-end work … things like running sales reports, doing billing, and updating my marketing tracking reports.
Make it a habit to review your marketing at the same time you do these tasks. After a few months you won’t even have to think about it anymore, it’ll become a habit.
(5) Consider hiring an assistant or support person to help. If they can take some of the tasks off your plate that really don’t require your expertise, it will free you up to focus on what I call “revenue producing activities.”
These are things like working with clients, creating products and services and marketing. I couldn’t believe the difference it made when I hired some help.
I didn’t think I could afford it, but now I don’t see how I lasted so long without help!
When you find a way to get back on track with your marketing and you do it on regular basis, it really does become a part of the way you do business.
Suddenly it doesn’t seem like marketing anymore. It’s just what you do to run your business. That’s when it becomes effortless.
And, that’s when you know your business will be continue to be busy and profitable for the long-haul.