Home Business How to Sell Your Business Idea – 2024 Guide

How to Sell Your Business Idea – 2024 Guide

Source: smallbusiness

The key to selling an idea lies mostly in the ability to know how to present a coherent argument. That communicative ability is something that can be learned. These tips will help you increase your chances of success.

According to a recent article, one of the main reasons that 80% of startups fail in the first 18 months, has nothing to do with the lack of financing or positioning of the personal brand, but rather with the lack of communication.

Therefore, once an entrepreneur has understood that launching an idea or project must amount to providing a solution to an existing problem, the discourse must be convincing. Furthermore, one should know how to demonstrate the ability to transform an idea into something capable of persuading even to the most reluctant investors. Speaking of that, Technasite is a valuable source of conceptions regarding the subject.

Surely you have heard about the “launch in the elevator” and its enormous relevance, although its staging is not the most appropriate for most formal business presentation situations. That said, using a similar structure and the following tips, which Sarah Landrum brings in her Branding blog, it is possible to create a genuinely compelling business idea launches:

Keep it simple

Source: medium

You must be careful and avoid exposing a statement in a too general sense since you would be allowing the audience to interrupt your presentation. And having to explain something that is not significant or going back in the message can open new doors for debate, negatively impacting the time you have to convey your idea.

Organizational or structural changes are not positive; it is essential to present a clear set of realistic objectives that your company can achieve, and that give your ideas the most significant possible probability of success.

Highlight your credibility and previous successes

Source: thebalancesmb

If you are worried about being able to receive a total rejection, the best thing you can do is to support your project. You can do that by providing examples that show how you are going to turn your ideas into a business model, how you will lead the team, or carry out the necessary measures.

If you have been an integral part of the development of the company’s brand strategy or have any other equally important capacity, you will enjoy some advantage in successive negotiations, and your chances of success will be increased.

Know what investors want

Source: entrepreneur

Also, it would be best if you kept in mind that investors are as interested in knowing where the idea came from as the idea itself. You can take advantage of this aspect to mention your business career, and name a colleague that you consider competent to create a credible personal brand or direct a project.

Skills and experience are going to be crucial factors in establishing lasting relationships. Still, first you must show that your idea is apt to create a company and get the money from shareholders. To present all this, it will help you to submit relevant statistics and illustrations or similar examples that are working in the real world.

Be aware of what you ask for and why

Source: toggl

The best presenters bring out their passion by exposing their speech. However, they never get carried away by ideas. In the end, the solutions you offer at the launch should be linked to an aspect of business imperative.

In other words, it is best to make sure that the problem you are trying to solve with your project responds to an immediate or foreseeable need, and that it fits with the general philosophy of the organization and its members.

Focus on crafting your story

Source: columnfivemedia

The most effective way to sell ideas is through an engaging vision, which today becomes a vital skill. Believing in what you say is as important as the way you say it, and being aware of it will help you strengthen your connection with the public.

Of course, you will have to vary the points to be mentioned to adapt to the scenario and limit the amount of technical language, so that the information is accessible. The example can be seen in Shipley, an energy company that has developed an exciting story that has captivated investors, and has succeeded in eliminating technical jargon and letting the story itself be convincing.

Manage your expectations and those of others

Source: shorthandstories

In the sale of a business idea, what is sought is to instill confidence. You should develop a systematic approach to managing not only your expectations but also those of all other stakeholders.

Try to imagine how to segment your idea into manageable sections and protocols so that everyone working on the project benefits from a degree of autonomy. After all, the desirable thing in a team is to promise less and contribute more.

Prepare answers to possible difficult questions

Source: piktochart

Probably, at the end of your speech, you will have to face some issues specially designed to catch you off guard.

In a scenario in which most of your argument is aimed at convincing others, it will be your last impressions – not the first ones – that are most interesting. Try as much as possible to control the energy of the room and answer those questions as quickly as you can, before going on to show what you feel safe.

List the essential data

Source: storytellingwithdata

Avoid the awkward situation of having to face “I don’t know, I don’t have that data at hand” and consider everything they might ask you, especially when it comes to numerical data.

Every time you present your project, pay attention to the questions asked. Remember them. They are almost always the same. This way, you can better prepare your answers for next time.

Be direct and brief

Source: hbr

The more you are, the better. And it is that when you talk a lot, you lose the attention of the listener.

The essential thing is to plan your bullets and quickly explain who you are because people want to know more about your product than you. Try not to explain yourself. You will reduce space for essential data.

Generate empathy and hook them

Source: vox

A stiff attitude does not work. Naturalness, accompanied by a dose of security, will be your allies; Transmit your story and fight to make a connection with those who listen to you. But if you are a young entrepreneur and you think that age subtracts you points, attitude is the key to catching your attention.

You must be natural and speak from personal experience, from the heart.

Clarity above all

Source: visme

Do not neglect your words. A lousy explanation can distort the understanding of your business model. “Your answer can be misunderstood, and they can understand something you didn’t want to say.