![B R I A N W S T E E L
developing higher performance
The Start-up Programme – City of Bristol College
Do you know the numbers?
Turnover
Profit
Gross margin [Revenue – COGS] x 100 = x%
Where COGS is cost of goods sold
Net profit margin [Net income/revenue] x 100 = x%
Where Net income is Revenue – costs
BEP
Overdraft requirements
Capital requirement](https://image.slidesharecdn.com/day10andfinally-130710134730-phpapp01/85/Day-10-and-finally-8-320.jpg)
Day 10 and finally
- 1. B R I A N W S T E E L developing higher performance Starting in Business Pitching the plan
- 2. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Pitching the plan
- 3. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Dragons Den Readiness.
- 4. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Borrowing money, at any time, is difficult – more so at present. Most investment requests fail because of 3 main reasons: Business owners fail to answer basic questions about the business Business plans fail to ‘sell’ the business. The wrong bank is pitched.
- 5. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Does your plan reflect your business and its current operations? Does it contain sufficient financial information? Does it contain a comprehensive, 1 page, Executive Summary?
- 6. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Is the plan clear on the following key areas: What the business does? How much finance you need and what its for? The ‘Value Proposition’? The route to market? The market demand? You competitive advantage?
- 7. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College What are lenders looking for? Strong management Defendable strategic assets including IP Has a strong USP The business operates in a growth sector The business is scalable, commercial and realistic. Market demand is demonstrable The business is generating good revenue Its a ‘must have’ product or service Profitability is high and there is good cash generation The offer package meets customer expectations
- 8. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Do you know the numbers? Turnover Profit Gross margin [Revenue – COGS] x 100 = x% Where COGS is cost of goods sold Net profit margin [Net income/revenue] x 100 = x% Where Net income is Revenue – costs BEP Overdraft requirements Capital requirement
- 9. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College The elevator pitch. Concise. Your pitch should take no longer than 30-60 seconds. Clear. Use language that everyone understands. Don't use fancy words thinking it will make you sound smarter. Your listener won't understand you and you'll have lost your opportunity to hook them. Powerful. Use words that are powerful and strong. Deliver the "Sis-Boom-Bang" to grab their attention! Visual. Use words that create a visual image in your listeners mind. This will make your message memorable.
- 10. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College The elevator pitch. Tell a Story. A short story, that is. A good story is essentially this: someone with a problem either finds a solution or faces tragedy. Either type of story can be used to illuminate what you do. Targeted. A great elevator pitch is aimed for a specific audience. If you have target audiences that are vastly different, you might want to have a unique pitch for each. Goal Oriented. A kick-ass elevator pitch is designed with a specific outcome in mind. What is your desired outcome? You may have different pitches depending on different objectives. For instance do you want to: make a sale, gain a prospect, enlist support for an idea, or earn a referral. Has a Hook. This is the element that literally snags your listener's interest and makes them want to know more. This is the phrase or words that strike a chord in your listener.
- 11. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College And Finally
- 12. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College There’s only one thing that can stop you from being a success.
- 13. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College YOU
- 14. B R I A N W S T E E L developing higher performance The Start-up Programme – City of Bristol College Go and do great things