The term pitch to investors comes from “elevator pitch“, but what exactly is an elevator pitch? We will use an example to explain it.
Imagine that you have a business idea. You have a clear business plan, you have a couple of partners who support the idea but you lack a key element: investment. You know that there is an important investor who may be interested in the idea. To get his attention, you go to his workplace and wait for him to enter the lobby. He goes to the lift to go up to his office and you see it as a golden opportunity. You enter the lift with him and explain to him, during the lift ride, what your business idea is, with the aim of getting him interested in it.
This short, direct and seductive speech is the elevator pitch or pitch to investors. At Itnig we offer a weekly pitch to investors which you can attend, but first, we will explain how to prepare the exemplary pitch.
Attracting the right investors to your startup idea can be difficult, especially in the COVID-19 climate. However, raising funds for startup development is necessary if you want to build a sustainable business. Based on Fortunly, there were 31.7 million small businesses in the US in 2020 however 42% of startups failed because the market didn’t need their products. This can make investors apprehensive about financially backing startups that are based on abstract plans and lack concrete development plans.
According to Forbes, companies that presell products and services close 40-50% more leads and retain 80-90% more customers. It’s why writing a startup investment teaser about your future business can open a lot of investors’ doors for you. Let’s take a look at what goes into writing the perfect startup investment teaser and how you can make the most of it in 2021.
Being familiar with key startup terms is a must for every founder and entrepreneur nowadays. It is really possible that you have already heard or read these words on the news or talking with colleges. The fact is that new vocabulary is being introduced into the business atmosphere since the startup market is growing faster than ever.
A lot of new vocabulary is arising, and to make it easier for you to really understand it and be capable of naturally using it in your daily business routine, we have gathered all those startup key terms in one article.
If you want to learn more about what is a startup and its stages before deepening on the startup key terms, you can read our article: How to raise funding for startups.
What is crowdfunding? Like many others, crowdfunding is a funding/investment tool used by many people around the world. Nowadays, it has become very popular among startup founders. When starting a project, it is difficult to obtain external financing, and crowdfunding is a good solution to that problem. Early stages are always the most difficult ones regarding the economic situation of the business, but you can learn about how to raise funding for your startup by reading our article.
Going back to crowdfunding, it is very likely that the term sounds familiar to you, but what exactly is it about? Crowdfunding platforms allow people from all over the world to contribute their money to all those projects they have found interesting. You could say that these small investors are like micro-sponsors.
Glovo is, without a doubt, a startup that has achieved great impact, not only in the delivery sector but at a company and business level. CEO and co-founder Oscar Pierre visits the Itnig podcast to share the story and evolution of the company.