It’s hard to believe that the younger generation are now business savvy individuals with the power to support our endeavors.
Millennials have become so driven by success that they’ve already taken on business ventures and investment opportunities that we wouldn’t have dreamed of. As an exceedingly entrepreneurial demographic they’re actively looking for new business opportunities.
This is where you come in.
Your business idea is solid—however, you require financial backing to get it off the ground. You need to be able to sell your idea to this new generation of investors in a manner that’s easy to understand and speaks their language.
To do so, follow these tips to connect with the Echo Boomers that have the financial power to see your idea reach fruition:
Practice your pitch
While your idea and pitch may seem sound in your head, articulating it is a completely different ball game.
Don’t let your nerves get the better of you. Repetition is key to success and will help to build your confidence for your upcoming pitch. Confidence makes all the difference and helps to provide a good first impression.
Your pitch will be the key to landing a meeting with your potential investor, so make it count. Keep it simple and be sure to include your unique selling points.
Dress the part
You represent your business and your brand.
The first impression any investor will have of this is the way you present yourself. As much as we would love to say that you shouldn’t judge a book by its cover, in the business world that’s exactly what we do.
You need to put careful thought and effort into your appearance. Think of what you want to portray yourself as and dress accordingly.
Embrace your passion
Excitement is contagious and shows passion.
People want to be a part of something special, not just a generic business that’s a glorified get rich quick scheme. Passion drives success and it’s reassuring to know that you’re partnering with someone who’s determined to make their business thrive.
Pushing boundaries, changing industry standards, and never giving up on your journey is all part of determining your success—and attracting millennial investors.
Tell a story
There’s power in telling a story. It shares your ideas in an interesting, unforgettable way that will leave your investors intrigued and eager to become involved. Millennials value experience and storytelling has become a currency all on its own. When done well, it immediately connects you with this generation.
Don’t be afraid to include images and videos in your presentation to make it more visually interactive, too. Your business plan presentation shouldn’t just be text-based, it should encompass different types of media to build interest and grab attention.
Manage your time
Timing is everything.
Keep your presentation short, sweet and to the point. Nobody wants to sit in a boardroom for an hour listening to you drone on about your business idea.
Try to keep your presentation under 15 minutes and only include important facts. You can print out additional documents to give to your investors to read when they have time.
Use your time allocation as a guideline to prevent a rushed presentation and ensure you have wiggle room for a short Q & A session.
As much as it may seem like a good idea, don’t add extra fluff to your presentation. It will take away valuable time that could be spent on more important aspects of your business. Plus, it distracts from what you’re trying to share.
If you dilute your idea, your audience could well lose focus and the impact of your presentation will be lacking.
Discuss your product
Yes, the way you plan on running your organization is important, but at the core of your business is your product.
So, what makes it unique and what will drive people to buy it? You need to explain this and why it’s a viable investment.
Bonus points if you have samples available for your investors to view or try.
Highlight your target market
Your product has been made to serve a purpose, and it’s important to share this with investors.
Who will be interested in this product? How do you plan on getting them to invest in your brand as opposed to the brand they’ve been using for years?
Your target audience needs to be clearly defined and your marketing strategy in line with this. When defining your strategy, focus on multi-platform marketing and include social media and mobile advertising as two options.
Having design mock-ups will help investors contextualize your vision and tie in with telling a story too.
Outline your revenue model
Money talks and your investors will want to know what their funds will be used for—and when they can expect a return on their investment.
Use realistic figures and explain your chosen model effectively to avoid confusion. Tell them why your idea is worth their time, money, and effort.
Where possible, include projections and outline what capital is required to kick start your business, and if additional funds will be required to facilitate growth.
Share how your idea will impact the world around you
Millennials are concerned about the world around them.
Making the world a safer, healthier, greener place is always at the back of their minds.
Having your business make a positive difference to society and the immediate area in which it operates will give you an extra edge when presenting your ideas to this generation.
If you can highlight a socio-economic benefit or a way that you’ll be giving back, this will give you the edge.
Above all, be prepared
While practicing your pitch, try to expect potential questions and the information needed to support your answers. This will give you an opportunity to compile any addenda that may be necessary to complement your business plan template. It’ll also make you look more professional and prepared for your pitch.
You need to look the part and act the part. And, above all, remember that your investors may be younger than you, but they have the power to make things happen.