How to Talk With Business Backers
Talking with potential business investors is something you should plan ahead. No amount of enthusiasm and candor will offset the effects of a business plan that hasn't been well thought out. With a solid business plan and your best foot forward, the business backers are likely to support you.
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Instructions
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Check your business plan. Make sure you know it from top to bottom so you won't be faced with a question you can't answer.
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Give a presentation that emphasizes all the good points of your proposal. Only take questions during the presentation that give you a chance to focus on the good. If a question may lead to a negative portrayal of the proposal, say you'll get to that question later. The presentation should only emphasize the good points of a business.
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Field each question after the presentation with honesty and clarity. If at this time questions are asked that jeopardize the deal, respond to the question or the objection with honesty, but portray the objection as minor. Remember, you are "spinning" this idea.
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Ask for the sale. If the investors are reluctant, ask what their concerns are. The best time to get a commitment is in person after the presentation. Find out what their hidden objections are and challenge them.
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Get a firm commitment from the investors, and a check if possible. Have some kind of contract ready. Strike while your presentation is fresh in their mind...and before they talk to someone else.
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Tips & Warnings
Talk to each of the backers on a personal level, even if you have a group of them in the room. Smile and make eye contact, letting each one feel special.
Don't get into an argument. If you're asked a question that could sink the deal, tell them you have an answer but not with you. This gives you time to think of a good reply.
