Every great business was first an idea in the mind of the entrepreneur before it became real. Through nurture, dedication and determination, it blossoms into something bigger than the entrepreneur. Somewhere along the line, other people eventually subscribe to become part of that vision.
People become part of a business at different levels and for a variety of reasons & purposes. Whether you’re pitching to a customer, investor, or potential hire, the ability to sell one’s vision with passion & conviction is important.
This is a story of a young, promising entrepreneur, Tom, and his 15-month old logistics venture who needed N250million to buy some heavy duty equipment for the next phase of his business. So he was introduced to a famous industrialist and this investor was willing to give this business a try. They had scheduled several meetings but they never held.
After several failed appointments, he was called by this investor to meet him up at the airport; he was on his way out of the country. So, Tom rushed to the airport to catch up with this once-in-a-lifetime opportunity for his business.
On arrival, the investor told him ‘you have 5 minutes to convince me on why I should give you this money’. That was his only chance to sell his vision in a compelling way or he may never smell that opportunity again.
Whether you’re selling your idea to potential investors, hiring a good hand or you’re sourcing for funds from your bankers; your ability to sell your company will either make or mar your business.
It all starts & ends with your in-depth knowledge of your business, the nitty gritty as well as the entire ‘dynamics’ around it. Gain understanding of the problems you’re trying to solve, the opportunities available and the potential size of the market. Know the team you’re using, strategies to adopt and your competitive advantage.
Of course, Tom got the money; he sold his vision in 5 unbelievable minutes. Be like Tom.