Getting your garden product on the hit show “Shark Tank” would be a great achievement and undoubtedly bring LOTS of publicity to you and your business.
While not everyone can get on the show themselves, a few takeaways about pitching an investor can be learned.
Even if you know your business inside and out it’s easy to get flustered and thrown off by a tough question or one you weren’t expecting. Investors ask those kinds of questions to get the information that they need.
Make sure your garden business doesn't lose a potential deal by not having the right answers to investor's questions.
What Does Your Garden Business Bring to the Table?
The 'sharks' are investing in not only your product, but also in you. You have to sell yourself! If you stand in front of them (or any other investor) and show zero personality or drive it won't matter how well you sell your product.
Connect your product with a personal story and highlight your industry experience to convince them that you’re worth their time and money.
What Makes your Garden Product Unique?
If your product is a new take on a classic favorite, be sure to hammer home why you will stand out in the very crowded market. Or if you’ve come up with a revolutionary product, come armed with testimonials that prove your product solves a common problem.
Knowing what sets you and your product apart in the market will impress investors and make a much stronger case for their money.
What Will You do with Investments?
If you are asking for a specific amount of money from an investor, know exactly what you want to do with it. Have strategic, business and marketing plans ready to show them how you will use their money and the ways it will boost business and get the word out about your product.
Spelling it out for them shows that you’ve really done your homework.
And when you finally seal the deal and get the money, spend it wisely!