Want an investor for your music project, here is what you need to know about the PitchApr 25, 2020
How to approach investors
Need an investor for your music project, how do you Pitch them? All artists would like someone to believe in their music and to be willing to invest money in them. How do you approach someone who might be interested in investing? They may be an entrepreneur, someone who likes to invest in startups, an angel investor or a bank that you want to pitch your music to get funding. There are 2 schools of thought a business plan or a pitch deck.
Let’s take a look at how a pitch deck and a business plan can serve you.
What is a PITCH DECK for investors?
A pitch deck is a short presentation, (usually no more than 19 slides) often created using PowerPoint, Slidesgo, Keynote or Prezi. The pitch deck is used as a visual aid during a presentation to investors or perhaps in a live presentation like a pitch competition. A3C began in 2019 to host a pitch competition for angel funding during the conference. A pitch deck is succinct and conveys to the audience what is special about your business, who it serves, why you are in this business, market strategies and projections for future growth. It can also be used during in-person meetings or online meetings with potential investors, customers, partners, and co-founders.
What is a BUSINESS PLAN for investors?
A business plan, is a written document (usually at least 15 pages or more) that fully researches the specifics of your particular line of business. The document contrasts and compares you to your music sector and your competitors. It will describe your sales and marketing strategy. It also would have information about the finances of the company and usually contains a projected profit and loss statement. It also describes the management team and what skills they bring to the table. It usually addresses your business plans for the next 1-5 years. The plan also includes charts and pictures but relies heavily on the written word to explain your vision. It may be part of a due diligence step in the funding process and also is beneficial when you want your management team to explicitly understand the vision and how you forsee the company becoming successful.
When You Need a Pitch Deck
- When your are looking for Equity funding thru venture capitalists, angel investors or saavy friends and family, a clear pitch deck is a great tool to show them why they want to be involved.
- If you are not yet ready for an investor now, but have the opportunity to network with potential investors a great pitch deck is helpful to make a first impression and build a relationship with someone of influence. .
- When You apply to an Accelerator. The pitch deck is evaluated to make a determination if you should move to the next step which is the pitch competition. A pitch competition brings the participants together to meet with the investors and gives them a certain amount of time (usually 15 minutes) to pitch the investors. Sometimes this is done in front of an audience. The investors then pick the company they want to fund based on the presentation. Competitions allow founders a chance to get exposure and practice pitching their company.
- When You Are Seeking CoFounders this is a great way to visually show them your vision and that you are serious and professional.
When do You Need a Business Plan
- When you are asking the bank for a loan.
- If you are raising a lot of money investors will absolutely want to review a business plan as part of their due diligence.
- When you have several people who own the company it is very helpful to outline everyone’s role so that the management team stays in their lane and executes the deliverables.
Here is a list of 10 of the best startup pitch deck examples to serve as inspiration when it comes time to create a pitch deck of your own. Click the links below to check thm out:
- WeWork Pitch Deck Series D