When you present a business plan to potential investors, you hope that things will go as planned. You expect to receive approval by the end of the meeting. Unfortunately, it’s not always the case. The investor might not like your presentation. Also, it’s not only about the quality of what you said. Your attitude also matters. You might commit these common mistakes, and it could cost you the investment.
There’s nothing wrong with expressing confidence in your ideas. You worked hard to conceptualise them. You also thought about every detail. Feeling confident in delivering your business plan is the right thing to do. However, being overconfident is a different story. Once you become too cocky and annoying, no one would want to listen to you anymore. The way you respond to questions could also reveal how overconfident you are. Be humble in accepting some suggestions and questions. Your presentation isn’t perfect, and it’s okay. The goal is to improve your rough ideas and make them more palatable to your target audiences. These investors aren’t mean to ask questions or offer suggestions.
Being too defensive
Another mistake you might commit is being too defensive. Again, it could be due to the amount of work you put into the business plan. You feel like you’re the only person who understands the details, and no one can question you. If you don’t even want to take notes or listen to ideas, it could be your downfall. Again, don’t take these questions personally. Humility and open-mindedness are good qualities a leader must possess. You could convince these investors to trust you if you showed these qualities during the presentation.
Faking your emotions
You don’t need to hide your true personality to win over these investors. If anything, they would prefer seeing your real emotions. They can also see through your effort to be someone you’re not. You can be respectful and professional without necessarily being inauthentic.
Not studying the investor’s background
One of the reasons some entrepreneurs fail is that they don’t study the investors’ background. You have to know what’s in the person’s portfolio. It’s easier to make a convincing argument if you know which aspect to focus on. Even if you have a great plan and you presented it well, you will still fail. Your ideas don’t match the interests of the investors.
Before you present, you need to prepare well. Make sure the meeting room is conducive to the presentation. It would help if you used concise slides to grasp the information easily. Prepare everything you need, including the computers and sound systems. You also need the projector ceiling mount to use the projector with ease. Upon the arrival of the guests, you’re ready to present. They only have a few minutes to listen to you. Make sure you win them over right away. Otherwise, you’re eating the opportunity to present your business plans and receive the needed amount.