How to Pitch Your Idea | Road to Revenue #65

THE 6 STEPS YOU NEED TO GAIN CREDIBILITY:

1. Credibility: Showcase credibility through your team, advisors, and patents. Illuminate your early mistakes and communicate how they have attributed to your situational knowledge to navigate those same scenarios in the future.

2. Emotional Attachment: Understand the emotional attachment your consumers have to your product/service and how to leverage it.

3. Reasons to Invest: Evaluate the reasons people buy, not the perceived reasons you think they buy. A giant potential market means nothing without market share.

4. Impacts: Communicate to your prospects the impact your business will have.

5. Capabilities: Explain the capabilities you have and need.

6. Quantitative Ask with 100/20 Rule: You can’t get an investment unless you ask. Be clear about what you want, how you will use it, and what investors will get in return.

Lastly, Make your business a profit-center for others by being able to ask and answer the following question:

“Determinant of the credibility you’ve told me we have, the emotional connection, the reasons, impacts, and capabilities; do you see any reason you wouldn’t want to move forward?” If you can ask that question and realistically predict the response, then you have effectively turned your business into a profit-center.

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