Assad Hamzeh is the founder and CEO of Sharakeh, a Jordanian company that connects companies to investors. He’s seen plenty of entrepreneurs pitch their ideas. Unfortunately, he’s also seen plenty of those pitches fail to gain any funding.
One of the main reasons these pitches never hit their mark, according to his recent article on Wamda.com, is doubt.
Entrepreneurs and investors here tend to the look at the project from two very different angles. Entrepreneurs tend to be emotionally attached to their projects, and want to protect them from being taken advantage of. Investors tend to look at projects as risky ventures that could threaten their assets. If there are no formal shields in place to guard against the potential risks, they will not invest.
Doubt can be a healthy factor driving negotiations. But when one or both sides walk out on a lucrative business opportunity due to unrealistic fears, it’s unproductive…
He has five tips to reduce both your and your investors’ doubt, as well as increase the success rate of your pitches. What’s tip no. 1?
1. Create a good business plan summary.
Even if your business model is great, it won’t matter if the investor cannot easily understand it. Often when entrepreneurs come to pitch to me, I read business plans that are too short and incomplete, or too long and too technical.
An ideal business plan write-up should be 10-15 pages long, and should have an executive summary that explains the concept in one to two pages. Investors don’t want to read 80 pages of details to understand if they like the idea or not. Give them just enough material to get interested, so that your summary is a good foot in the door to future discussions.
This artice is intended for businesses operating in Jordan. However, you’ll want to read it no matter where your business is based or where it operates.
h/t to Endeavor Global, Inc.
Sierra Investment Group Inc. Carson City Nevada is a small business plan writing service and small business funding resource. They can be reached toll-free at (800) 323-6298 from 8 a.m. to 4 p.m., Monday through Friday, or at firstname.lastname@example.org