Question

Be prepared, Know your story, Remember your objective, Be clear and Be honest are some important keys for talking to investors. Please describe how these key apply to your own business

Answer 1

Be Prepared- Preparation is necessary to execute your strategies to achieve the goals and objectives of the business. Preparation is a half success while execution is the other half. Preparation by doing research on the industry, competitors, products, distribution channels, business models, etc. all help fine-tune the execution of business strategies and help smoothen out the eccentrics of business.

Know your story- Knowing what your business is about is critical to run the business and develop or provide the service that compliments the vision and mission of the business. It's important for a business to know what its purpose is and what it intends to achieve.

Remember your objectives- Objectives are important as they serve as milestones to measure the success of the business. They serve to evaluate whether your business is achieving its desired purpose or not.

Be clear and honest- Clarity serves to evaluate your business objectively and without bias. It also serves to maintain focus on achieving the objectives of the business. Honesty is important to maintain trust in business and its employees which maintains the morale of the workforce as well as maintains the faith of investors and stakeholders like suppliers, channel partners who are more likely to do business with a honest management.