campbell their business too soon. When you are trying to convince people to invest in your business you don’t want to have to base everything on predictions. The investors will want to see evidence of the success your company can be, even if this is just six months’ worth of financials – it gives them concrete numbers to work with. You also need to be able to stand in front of them with complete confidence in your business to encourage the same from them. What is the single most important element of a pitch? When pitching, no matter how successful you think your business could be, you have to have the facts and figures to back it up. My advice would be to keep the pitch succinct and make sure you tailor your selling points to the potential investors in front of you. You want to really engage the investor whilst being able to clearly outline what you are selling, where the market is and where the demand lies. Make sure the potential investors clearly understand your business, are inspired by your pitch and are provided with the appropriate figures that convince them that your business has potential. What advice would you give to young people who are thinking about starting a business? There is a really encouraging movement surrounding entrepreneurship and startups in the UK at the moment, fuelled by a great deal of support by the government and individual funding bodies. The rise of innovation hubs and more diverse funding options have created a positive environment for people to take the leap into self-employment. As an investor, one of the first things I think about when I meet a young entrepreneur is whether they have a confident and resilient nature. If you are thinking about starting up your own business you must appreciate the time and effort that goes into trying to make it a success, and you need to have the self-belief that you can achieve something great, otherwise your idea won’t stand a fighting chance. There are always hurdles to overcome and as an entrepreneur you must be very resilient to survive and thrive in the face
A crucial mistake I have seen entrepreneurs make time and time again is being over ambitious with their valuations. You need to be realistic! of these. Being determined and driven to see your business succeed will help tackle these, but most importantly surround yourself with an effective support network that is just as eager to see your venture become a success as you are.
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