Fundraising and Pitching
All business ideas need funding in order to be realised. Funding is usually coming from investors – but first, you need to convince them that it makes sense to invest in you and your idea! Let’s see in this unit how that can happen.
Warm up
Have you ever tried to convince someone else on an issue? Let’s discuss what ‘tools’ you used to make it happen.
Think in silence of a situation in which you tried to convince other people of a specific issue. For example, when you asked your parents or guardians for money to buy something that you really want.
- What arguments did you use?
- Did you highlight the benefits of purchasing the specific product/service?
If it was something you wanted to do with one of your friends or relatives, did you make a request as a team? In that case, did you all speak?
Exchange with your buddy and compare your answers.
Learn
Take a look at this short presentation about all that you need to know to create the perfect pitch deck. It will teach you how to win over potential investors!
Dive in 1
Now that you went through the presentation, think of a business idea.
You can use one of the ideas you had created with your buddy in the previous unit!
Discuss with your buddy: what are the key elements of your business idea that differentiate you from other existing solutions to the issue you have identified? Aren’t there others that offer something very similar?
Create
Take a look with your buddy at the presentation once more. It is now time for you to create your own elevator pitch.
Do not forget to cover all points mentioned!
At the end read and revise your presentation and practice it while checking the time with a timer – stay below 2’.
If it is too long: what information is not strictly necessary? Take the perspective of your audience: the potential investors of your idea!
Reflect
Funding can be an issue when creating a business.
Discuss with your buddy possible ways of covering initial expenses, including crowdfunding. What amount would you aim for and what organisation, institution or enterprise would be interested to invest in your idea?
Prepare your postcard and give to the KIDS4ALLL community a vague idea of what your business idea is about!
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