Trigger 3

Problem:

How to market a start up?  

Learning objectives:

The importance of networking

How to pitch your start-up to investors 

Important marketing tools and how to use them  

Keywords:

Social media

Pitching 

Networking 

Marketing 

Investors

Start-up

The importance of networking 

It can help you start your own business, as well as climb the career ladder. It's a long-term investment, and you can build long lasting friendships. (Access MBA, 2017.)

It is almost always free, if you go to the right events, you'll find great like-minded people who you can learn from and work with. Networking leads to future business opportunities for everyone involved, which can help you expand your knowledge about the industry or just give you motivation to go further. Networking helps you form and maintain a strong contact base. You will learn important things form the people that has the experience and get in contact with investors. It’s free marketing for yourself, but it’s still usually quite relaxed. (Chowdhury, R. 2011.)

At networking events you can spot and grab good opportunities. You might also learn something about your company that you hadn’t thought about before. “If done right, meeting more people leads to more business and career opportunities, which leads to meeting more people and more business, and so on,” Kintish writes. (Harrin, E. 2017.)

For the other perspective, you get to help people, and exchange new ideas. It also gives you a boost of self-esteem. (Karrera, M. 2017.)  

How to pitch your start-up to investors 

You should only take ten minutes while pitching. Try to create your pitch into a story and try to make it as interesting and unforgettable as possible. Respect the investors time, so you should be laser focused on while pitching. Explain exactly what your service or product is. Highlight what is unique about YOUR idea. Know and explain who your targeted audience are. Tell them your exactly how you are going to get your customers. Tell them about your revenue model, how will your company make them rich. Be extremely enthusiastic about your idea, and you should also dress well, even though no one should be judged based on how they look, it is still important to look representable for your pitch. You must practice, practice and practice your pitch. Try to anticipate questions the investors are going to ask and have an exact answer ready. You must have an exit strategy. ‘’Every investor wants to make a lot of money in a short amount of time. What is a “short amount of time”? A five-year benchmark is a safe time frame. Your plan and pitch, then, should explicitly answer the investor’s unstated question: How will this make me a lot of money in five years? ’’ (Patel, N. 2015.) The goal is to have the investor begging to invest in your company. (Patel, N. 2015.)

You should have a clear marketing and sales strategy. Explain why you are different from the competition. (Cummings, C.  2018.)

Important marketing tools and how to use them   

Having an online identity is very important. Create a user-friendly website, so that it’s easy to use and find. Networking is also a quite important marketing tool, that you should use to your advantage. Create a memorable and eye-catching logo. Use search engine optimization, integrate with the local community. ‘’ Consider offering a token discount or rewards scheme to regular customers.’’(Deyle, N. 2014.) Find influencers that can promote your company and social-media management. (Hendricks, D. 22.5.2017.) Try to increase traffic on your website and identify popular keyword searches. (Balkhi, S. 2018.)

Sources:

Access MBA, 5.4.2017. 5 reasons why networking is important. URL: ¨https://www.accessmba.com/articles/view/5-reasons-why-networking-is-important Accessed: 1.5.2018.  

Balkhi, S. 28.2.2018. 4 content marketing tools to try in 2018 (and how to use them. Inc. URL: https://www.inc.com/young-entrepreneur-council/4-content-marketing-tools-to-try-in-2018-and-how-to-use-them.html Accessed: 2.5.2018.  

Chowdhury, R. 26.5.2011. The importance of networking. Business insider. URL: http://www.businessinsider.com/the-importance-of-networking-2011-5?r=US&IR=T&IR=T Accessed: 1.5.2018.

Cummings, C. 2018. How to pitch to investors in 10 minutes and get funded. Bplans. URL: https://articles.bplans.com/how-to-pitch-to-investors-in-10-minutes-and-get-funded/ Accessed: 2.5.2018.
Deyle, N. 19.8.2014. The 10 most important marketing tools. B2B Marketing. URL: https://www.b2bmarketing.net/en/resources/blog/10-most-important-marketing-tools Accessed: 2.5.2018.

Harrin, E. 28.12.2017. Importance of networking. A girl's guide to project management. URL: https://www.accessmba.com/articles/view/5-reasons-why-networking-is-important Accessed: 1.5.2018. 

Hendricks, D. 22.5.2017. 50 marketing tools to help your business crush the competition. Entrepreneur. URL: https://www.entrepreneur.com/article/286530 Accessed: 2.5.2018.

Karrera, M. 11.5.2017. 10 important benefits of networking. Career Addict. URL: https://www.careeraddict.com/benefits-networking Accessed: 1.5.2018. 

Patel, N. 21.10.2015. 13 tips on how to deliver a pitch investors simply can't turn down. Entrepreneur. URL: https://www.entrepreneur.com/article/251311 Accessed: 2.5.2018. 

Patel, N. 2018. 10 online marketing tools you need when starting a business. Neilpatel. URL: https://neilpatel.com/blog/10-online-marketing-tools-you-need-when-starting-a-business/ Accessed: 2.5.2018.