B R I A N W S T E E Ldeveloping higher performance

Starting in BusinessPitching the plan

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Pitching the plan

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Dragons Den Readiness.

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Borrowing money, at any time, is difficult – more so at present.

Most investment requests fail because of 3 main reasons:

Business owners fail to answer basic questions about the business

Business plans fail to ‘sell’ the business.

The wrong bank is pitched.

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Does your plan reflect your business and its current operations?

Does it contain sufficient financial information?

Does it contain a comprehensive, 1 page, Executive Summary?

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Is the plan clear on the following key areas:

What the business does?

How much finance you need and what its for?

The ‘Value Proposition’?

The route to market?

The market demand?

You competitive advantage?

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

What are lenders looking for?

Strong management Defendable strategic assets including IP Has a strong USP The business operates in a growth sector The business is scalable, commercial and realistic. Market demand is demonstrable The business is generating good revenue Its a ‘must have’ product or service Profitability is high and there is good cash generation The offer package meets customer expectations

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Do you know the numbers?

TurnoverProfitGross margin [Revenue – COGS] x 100 = x%

Where COGS is cost of goods soldNet profit margin [Net income/revenue] x 100 = x%

Where Net income is Revenue – costsBEPOverdraft requirementsCapital requirement

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

The elevator pitch.

Concise. Your pitch should take no longer than 30-60 seconds.

Clear. Use language that everyone understands. Don't use fancy words thinking it will make you sound smarter. Your listener won't understand you and you'll have lost your opportunity to hook them.

Powerful. Use words that are powerful and strong. Deliver the "Sis-Boom-Bang" to grab their attention!

Visual. Use words that create a visual image in your listeners mind. This will make your message memorable.

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

The elevator pitch.

Tell a Story. A short story, that is. A good story is essentially this: someone with a problem either finds a solution or faces tragedy. Either type of story can be used to illuminate what you do.

Targeted. A great elevator pitch is aimed for a specific audience. If you have target audiences that are vastly different, you might want to have a unique pitch for each.

Goal Oriented. A kick-ass elevator pitch is designed with a specific outcome in mind. What is your desired outcome? You may have different pitches depending on different objectives. For instance do you want to: make a sale, gain a prospect, enlist support for an idea, or earn a referral.

Has a Hook. This is the element that literally snags your listener's interest and makes them want to know more. This is the phrase or words that strike a chord in your listener.

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

And Finally

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

There’s only one thing that can stop you from being a success.

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

YOU

B R I A N W S T E E Ldeveloping higher performance

The Start-up Programme – City of Bristol College

Go and do great things