Small Business Financing 101 – Your Elevator Pitch

We live in a 15-second world. Modern news agencies gives us news from all over the world in small sound bites. When you’re looking for a lender or investor to help finance your small business you need to craft your first presentation with this 15-second sound bite model in mind.Investors and money people are busy. They need to filter out a glut of information every day. Make it easy on them and yourself.With a concise capsule that captures the excitement and potential of your idea or concept you can help investors make an initial decision to pursue your project or decline because it’s not right for them.You’ll also save time by not scheduling a full presentation of your business plan if you’re just going to get a no.Use your well-crafted elevator pitch to quickly sift and sort through potential money sources and find the ones that make a good match.Crafting Your Pitch…1. What is the nature of your business idea or concept? Is it retail, wholesale, a product, a service?2. Capture the excitement and potential of your idea. What is the most compelling elements of your business idea? Make a list then prioritize them. Use the first one or two entries on your list as the meat of your message.3. What makes your idea different or unique? Is it a new product? Do you have a novel way to market it? Does it have a loyal following already? Any famous endorsers?Use these three simple steps to clarify your idea then construct it into an exciting 15-second elevator pitch. Make your pitch easy to remember for both you and the investor.Practice, drill and rehearse until you can present it without thinking. Say it out loud. Does it flow and have a nice ring? Practice it on a family member or friend – does it make sense to them?When you’re ready find some investors and go for it.