Canadian small business owners are being hit hard by rising costs. But rather than raise their prices they are willing to take the less profitable approach and absorb the increases. This is a good tactic to use for the long term say experts and getting, and keeping, a loyal customer is a top priority.
For more on this story visit the Vancouver Sun.
Image courtesy of Marco Bellucci
When it comes to your investment pitch, you need to plan ahead. You’ll have prepared your company plan and practiced how to pitch your business, but have you planned for the questions that might be fired in your direction? This can cause a potential stumbling block but knowing what to expect can leave you one step ahead.
This is the most common question from investors, and it sounds easy to answer. But there are still a lot of people that talk for a long time, about every aspect of the company. Remember, that it’s not always about the question but the way it’s being said. When an investor asks what you company is about, they want it in a short, precise, attention grabbing moment. Sell your business to them as if they were waiting for a train and it just started pulling into the station.
When completing your investment pitch it’s always good to include the customers you already have. This shows that something is working and with a bigger push, there will be more people interested. If you have references, use them. Anything that shows your company has potential will give you a better chance of receiving new business funding.
There is always competition, so avoid answering this question with ‘no one can’. But what can you say? A larger company will have more staff, more money, and years of experience. The only answers you have are that you can move quicker, that other companies have too much to deal with already. Read the rest of this article
If you’re trying to find angel investors, it’s unlikely that they will fall in your lap. They don’t have name tags and they won’t slip a calling card in your pocket when you’re not looking. You have to go after them, and do it in a ruthless fashion. But when you know how, you’ll be able to find them no matter what city you’re in.
Some people are better than others when it comes to networking, but we all have friends, right? When you need to find angel investors ask every last friend you have if they know someone. The message will soon spread and before you know it someone somewhere will get your message. Read the rest of this article
During your investment pitch the chances are you will make some mistakes. This is normal and errors such as dropping your pen will be largely ignored. But there are other glaring problems that need to be addressed. The only problem is, you probably don’t know you’re making them.
You may think you’ve made it big when you pitch your business to investors. But the truth is you’re not even close. Some small business owners are overly confident when they believe their business to be in a great position. But be warned, investors can see through this. Read the rest of this article
British Columbia is currently in the process of voting to extinguish HST. But while this can benefit consumers, what will it do for small businesses? There are number of different theories on how this new vote will change the economy.
Read more about the story at the Globe and Mail.
President Obama has named a new economic adviser today, Alan Krueger. This is good news for small business owners as it increases the chances of a new HIRE Act. Obama reveals that this new act will help small businesses hire new employees and put construction crews to work.
For more on this story visit Portfolio.com.
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Elevator pitches are an important part of business. If you’ve ever found yourself in a position to use one, you’ll know that it’s harder than reading a few tips from an article online. In the moment, you think back to the advice you were given. But it’s an error and you can’t help but think that the person your pitching your business to is getting bored. They’re shuffling their feet, looking to the corner of the room and nodding without thinking. Can you get them back?
So you’re beginning to bore the potential investor as you pitch your business? This is because elevator pitches are supposed to be sexy, not a string of memorized business lines. Imagine putting yourself in the investor’s shoes. Would you want to listen to this speech?
Elevator pitches can happen anywhere, in an office, at a party, down the road. So it’s good to have the ability to think on your feet. But this doesn’t mean turning into a robot. Relax, tell the potential investors about statistics but make your business opportunity sound like the best thing they’ve ever heard.
While you might just be getting the investors’ attention back, there is still some work to be done. A large majority of people will fail at this moment, but not you. This is because you turn the negatives in to positives and highlight the key objectives. If your company had no problems then you’d already be rich and famous, so during the elevator pitch tell the investor how you plan to overcome the issues. Read the rest of this article
A recent survey has shown that the amount of small businesses filing for protection is down from last year. The figures, released by Equifax, fell 15% in the first quarter. This looks promising for small business owners but further statistics suggest there’s still some work to be done in the sector.
For more news on the story visit Inc.
Pitching your business can be a nerve-racking experience. We all remember the time, as children, when we had to make a presentation at school. Your hands would shake and your speech sounded wrong, all this, in front of a room full of people. Though years have passed, your body still acts the same. The only difference now is that you’re pitching your business to potential investors and have the future of your business in their hands. Read the rest of this article
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Working out how to find an investor in Toronto can be a tricky business. You look online and only see broad articles that don’t explain the ins and outs of the city. And when you look closer the articles lead you back to where you started. So what’s the best approach?
The first thing to do when working out how to find an investor in Toronto, is speaking to contacts. Though it may seem like an outside bet, you’ll be surprised with who knows who, and if they’re local, you’ll have more of a chance in finding your investor. Ask anyone you know to send out the message that you’re looking, and then start with the next steps.
Some people don’t have contacts, so try networking. There are a wide number of websites for potential small business owners, so try online, then in local publications. Enterprise Toronto is a great place to start, and they will also have links to sites that might come in handy. Read the rest of this article
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