You try your best to have an excellent presentation for potential investors. You want to impress them with your ideas so they will fund your company. The presentation part is easy. You can prepare what to say and even have slides to aid in your presentation. If you have a projector appropriately mounted on a projector ceiling mount, it’s better. You won’t have a difficult time preparing your presentation, and everything will be smooth.
While there are ways to prepare for your business pitch, the challenging part is answering questions. You should open the floor to questions and prove that you know your business well. The investors will also decide to invest in you based on how you respond to these questions. Here are some tips for answering difficult questions.
Go back to your slides
There are times when investors ask questions about things you already discussed. Perhaps, they want to test how well you know your presentation. They also missed what you said and want you to explain again. The best thing to do is to get back to your slides and use them to discuss your thoughts. The answers are already there.
Don’t panic
You will find it harder to answer the questions if you panic. Think about the correct response and not the reason why you received such a question. There’s no point in determining why the investor wanted you to respond to a challenging question. Regardless of the reason for asking, you should have the right answer. You will do not give it if you panic.
Pause for a while
Don’t hesitate to pause and recall the right answer. Organise the ideas in your head first before saying them out loud. These investors won’t judge you because you were unable to answer immediately. It’s not a speech contest. They want to hear your thoughts, and it helps if you organise them first.
Be honest
While trying to answer the question, you might realise that you don’t know what to say. You don’t have the correct answer, or your ideas aren’t complete yet. Be honest about it. There’s nothing wrong with being straightforward about not knowing the response. It’s better to be honest than to give a false answer. Besides, business ideas aren’t perfect at the start. It takes time to polish the ideas before you launch the business. Investors will understand it.
Clarify the question
You might also find the question to be difficult because you didn’t hear it right. Clarify the question or ask for what ideas the investors want from you. Once you understand the thought, you can give a good response.
Crack a joke
Keep the environment light and friendly. You can crack a joke whenever appropriate. As long as it’s funny and respectful, there’s nothing wrong with it. You can even joke about not knowing the answer yet. It’s also a sign of how smart you are to transform a serious atmosphere into something more fun.
Hopefully, the investors will say yes to your ideas, and you can prove that they made the right decision.
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