Dos
- Try a bank first to get a loan - it will be your best option and the most economic
- Start your pitch by getting the decision maker’s attention
- Always make your best and strongest points at the outset
- Show early on that you as a person are investable - funding is also about investing in people
- Ask yourself if the funders are interested from the start. If so, move swiftly to get an early decision in principle
- If you get an in-principle decision, move fast to close. These people work under pressure and have hundreds if not thousands of opportunities to look at every year
- Show you are passionate and committed to your cause
Funders don't like surprises, especially nasty ones, so always be honest
- Make sure you know every last detail about your business, its market and competitors
- Highlight why you are different
- Demonstrate that you can deliver, funders like people who can close
Don'ts
- Don't turn up poorly dressed and badly presented
- If you haven't got the funder’s attention quickly, stop and ask if there is something they don't like or haven’t understood about the business. You will know quickly
- Don't mess up the financial part of the presentation and if you are using
projected figures, disclose this at the outset - Funders don't like surprises, especially nasty ones, so always be honest
- Don't give up if you get knocked back
- Don't try and give an answer if you just don't know. Say ‘I don't know but will find out’
