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7.6 Manage the Meeting Like a ProBfound.com's Practice Pitch The first meeting usually sets the tone for future get-togethers. If it doesn't go well, you'll have a hard time regaining the investor's interest, so make every effort to come to this meeting well prepared, enthusiastic and aware of the investor's needs and perspectives. Here are some guidelines for getting the first meeting right. Time Your ArrivalIf you took responsibility for the location, arrive early to double-check the room. Get your equipment and material set up, and then be ready to welcome the investor warmly at the door. If you didn't arrange for the location, arrive on time. Set Up the AgendaMake sure everyone gets a copy of the agenda and other handouts. Ask about the investor's time constraints and make sure they are respected. Introduce your management team, and then present an overview of your business venture. If appropriate, suggest a tour of your facilities before getting into the details of your investment proposal. A tour gives the investor a better understanding of your business and the products or services you sell. Make Your PresentationThis is where your dress rehearsals pay off because you know that you can deliver a polished performance. But first, find out if the investor has read the proposal. If so, you will be able to proceed more quickly through your presentation, then zero in on particular areas of interest or concern. Depending on the size of the group, it may be appropriate to show slides on the key components of your presentation. Remain enthusiastic throughout your presentation and be confident about your business venture. Be Ready for Some Tough QuestionsKeep in mind that the investor wants to know how you think, how you solve problems, how you deal with others and much more. The investor will ask questions that will put pressure on you to see how you react. Often the investor will want to zoom in on your firm's strengths and weaknesses. Be prepared to respond. Never bluff. If the investor raises an issue you are unsure about, make a note of it and promise to have an answer for the next meeting. Respond to Body LanguageWatch for signs of interest, confusion or boredom and try to respond accordingly.
Know Your StuffBe prepared to go into the details on any portion of your investment proposal. Have others on your team help if you can't comfortably respond to questions from the investor. While you might be strong technically, you may need your controller or sales manager to explain the details of your financial projections. If the meeting gets bogged down in details, suggest dealing with the matter near the end of the meeting. It's a myth that private investors will make their decisions of whether or not to invest based primarily on a company's historical financial performance. Most investors focus their attention on the company's current financial position and your ability as a manager to drive the business forward. You are often the "magic" they are looking for to realize their opportunities. Be StraightBe honest and forthright. It's important for the relationship and for your credibility that you answer all questions honestly, adequately and fairly. Stay Focussed and CalmMaintain your composure and patience. Remember that you have been intimately involved with your business for many years. Sometimes, the potential investor may ask questions that are difficult and show a lack of understanding. It is important that you maintain your composure and do your utmost to respond to the questions in a calm and poised manner, and that you do not talk down to the investor. After the MeetingHow well did you do? Think of each meeting as a learning experience. Afterward, take a few minutes to assess how successful you were. Write down any concerns the investor raised so that another time you'll be prepared to address them more effectively. Use the post-meeting checklist to assess the meeting. Or ask the investor directly to give you feedback on your proposal and presentation.
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Updated: 2005/07/12![]() |
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