If you are on a quest for small business financing, making the right impression is essential. Unfortunately, you will probably have only one shot to get it right. First impressions can be the deal maker or breaker. How the investor or lender sums you up, within the first few minutes of meeting, can determine whether you establish a great business relationship, or are politely shown the door.
Although you may have been correctly taught to not judge a book by the cover and people by their outward appearance, in your personal life, the business world has a different perspective. Before you even utter a word regarding your business, you have probably been thoroughly check out, and your potential benefactor will already be leaning one way or the other concerning your financial request.
So, before you enter any office to submit you small business financing proposal, make sure you are:
• Looking Good
• Considerate of the Surroundings
• Emotionally Prepared
• Cognizant of Variables
• Passionate
• Practiced
• Detail Oriented
Having all of your ducks in a row can make the difference between having the small business financing needed to continue your business or closing the doors.
Looking Good
Looking good is extremely important for making the right impression for people who might provide you with small business financing. Now, do not start gazing at your reflection in the mirror and deciding you need a bunch of plastic surgery. You simply need to clean up nicely and appear professional.
Sorry guys, but you need to get out that conservative tie and a descent suit. Grays, blacks and browns are recommended. Save the busy ties kids might give for Father’s Day for another occasion. Even if you normal dress casually in slacks and a sweater or open necked shirt at work, now is not the time.
Ladies have to adhere to a business dress code as well. You want to appear business-like. Conservative is always better. Forget the short skirt, lower neckline, and spiked heels. If you normal prefer slacks, pick an outfit with a jacket to match. If you are making your presentation to a room full of men, you want to let them know, from the time you walk in the door, that you mean business.
Considerate of the Surroundings
Of course, as you are dressing for successfully acquiring small business financing, you also need to take the surroundings into consideration. For example, if you have been invited to play a round of golf, while discussing business or you are meeting at a casual little restaurant for tea on the weekend, dress the part. You do not want to appear stuffy or out of step. You do not want to overdress and make your potential benefactor uncomfortable; but, do not show up in your old worn out jeans either.
Emotionally Prepared
When you are approaching an investor or lender for further small business financing, you have to be emotionally prepared. You obviously have a lot riding on your presentation. It is natural to be nervous and scared. But, you can actually use this to your advantage. Instead of allowing your emotions to negatively affect your meeting, accept the feelings as a means of keeping on your toes, so that you do not get complacent or even cocky.
Cognizant of Variables
So, you have done everything right. Your presentation is flawless, because you are so well prepared. But, the vibes in the room are very uncomfortable. Be cognizant of the variables that may be at work. Life gets in the way. Maybe the money is just not available at the moment. A potential small business benefactor may have recently lent money to another entrepreneur and lost, without as much as a note of gratitude. The list of possible variables is endless. A negative response may have absolutely nothing to do with you personally.
Passionate
You must be passionate about the products or services you provide to your customers. If you are not excited about your business, how can you expect a lender or investor to be enthusiastic about giving you small business financing? But, if you are excited and believe in your abilities to succeed, your attitude can be contagious. Believe in your success and convey that feeling, when you are making a pitch for money.
Practiced
For a flawless presentation, you must be practiced. Sure, take small note cards with keywords, to help refresh your memory and give you a sense of security. But, if you drop those palm-sized note cards on the floor, you will not have to pause or be flustered. You have the presentation down cold. You can practically make a business pitch in your sleep. You need to practice, practice and practice some more, if you are properly preparing for your business presentation.
Detail Oriented
Finally, be detail oriented. Do your homework. Making a good impression is much more than simply knowing what you are doing. You need to know your benefactor as well. Make sure you can pronounce names properly. Know the dynamics of their business, before you ask them to help with small business financing. Learn the little details that let them know you value their time and interests enough to go the extra mile.
In short, the right impression, when you are making a pitch for small business financing, is vital. Dress the part, be prepared, and practice until you can do the presentation in your sleep. Know your potential benefactors. Then, you may have a better opportunity for small business financing.