Web Summit is the tech event in Europe, and it’s kicking off in less than six weeks. Aside from the world’s most innovative startups and Fortune 500 companies, over 1,000 of the 22,000 attendees will be experienced investors. If you’re a first-timer to Web Summit, there’s a lot you need to do to get ready.
For a start, you’re going to need a great pitch deck to tap into that money stream, because the competition will be huge. We’ve talked to the experts and past attendees to give you the best advice on how to get investor ready for Web Summit. Here are their top tips:
1. Do your research
What type of investor is right for you and your business? You need to assess this quickly while you meet people at Web Summit.
Know who you’re talking to and present them with content that will engage them and help them to quickly understand your business. It would be a good idea to have a short slide deck for your different audiences. What you present to an investor should be different from what you tell the media.
Web Summit publishes lists of investors in advance, so look through them, find the ones best suited to your company, get in touch with them, and memorise their faces.
2. Build a killer pitch deck
After the pleasantries, and once you know you’re talking to the right person, give your 30 second elevator pitch. You should have this mastered. If the investor is still interested, show them your pitch deck:
Keep it concise, engaging and visual. If an investor is interested, they will ask more questions. If not, your pitch has been a good filter.
If they do ask questions and seem interested, suggest meeting for a coffee or drink later. That will give you a chance to build a relationship, get advice, and if you’re lucky, maybe present your business plan.
3. Go further: Know your business plan inside-out
A good pitch deck is crucial, but if an investor is keen, they may want you to talk about your business plan too. Be prepared to talk about the current trading, competition, and your business forecasts in detail.
Be ambitious and enthusiastic, but honest and realistic. Show you understand how you will make money, but don’t exaggerate your forecasts. Investors will spot this and they will not want to invest in you.
4. Profit is power
An interested investor will want to hear about how your business is going to make them a profit.
Is it scalable? Can you replicate it in another location, in greater numbers, without duplicating other marketing and business costs? If so, this will give you a huge advantage.
Is it efficient? Cut out all unnecessary costs. Make your business lean and agile.
How much equity you will be able to offer? Depending on the amount of money they’re putting up, some investors will want a lot of equity while some will want a little. They may want you to make the first offer, so it’s a good idea to have an idea of what is a reasonable split to you.
5. Don’t just pitch, meet. And then follow up.
Be careful not to bombard people with your pitch. Make sure you are first and foremost meeting people. Work on building rapport. Investors aren’t just investing in the company. They’re investing in you.
Get cards or contact details and follow up soon as possible. Connect on LinkedIn or Twitter. They are going to be meeting a lot of people just like you, so make yourself memorable.
If you don’t have time to prepare all of this before Web Summit in a few weeks, why not give The Work Crowd a try?
Our platform can match and connect you to our best in class network of flexible freelancers in Marketing, Communications and PR to help you build your pitch deck, produce marketing materials, or create brand videos. Register now and we will get in touch to discuss your requirements.
Top tips to get ready for Web Summit 2015