While some think investors are all uber-rich people on a tv show, investors are more often friends and family to begin with. These are the people who know us and watch our efforts in building a business. It is usually easiest to ask for a loan because of the relationship. We should consider their contributions an investment.
The way we demonstrate our commitment to growing our businesses must also include how this can benefit any financial investor and at a minimum how they will be repaid. A pitch deck can help us do this.
A pitch deck is a concise presentation typically created with Microsoft Power Point with approximately ten slides that clearly defines our business model: how our business works to make money.
Each slide needs to demonstrate our understanding of how spending on marketing, technology, and operations, brings sales and how we intend to return any investments made and by when.
A pitch deck invites investors to view our unique value proposition that positions our business for success, answers their questions and demonstrates how we reduce the risk of failure.
In the Building Black Entrepreneurs Program, entrepreneurs translate the learnings on the key business topics covered over 8 months and incorporates these along with their practical experience from operating a business or researching a business idea, into the pitch deck. Entrepreneurs will now have an understanding on how funding will benefit their business, a framework of their business to share as well as a blueprint for a more formal business plan. These are tools for ongoing success.
