The document provides information on raising finance for new businesses. It discusses different sources of funding like venture capital, business angels, banks, and grants. It emphasizes the importance of pitching to secure funding. An effective pitch should be 1 minute, clearly state the problem being solved, how the solution will succeed, what is being asked for, and how success will benefit both parties. The document also provides tips for writing and practicing an elevator pitch.

1. Session 5 Raising Finance Pitching

2. Some questions Why should anyone else give you money? Why shouldn’t they? What can you do to make it easier for them to give you money?

3. Sources of finance Existing angel investment, already profitable High level of potential return and customers already signed up A proven track record or security (eg a house) Good personal relationships Skill in completing application forms What do you need? Shares in your business Shares in your business Regular repayments at a set rate of interest Negotiable Free Cost? £200,000 or more £50,000-£200,000 Varies Up to £50,000 Up to £10,000 for students How much? Venture Capital Business Angels Banks Friends & Family Grants & competitions

4. So how much money do you need? Add all the z's Thats how much money you need Q: How can you reduce this amount? z y Dec … z z z z Total costs … y y y y Monthly costs x Startup costs … Apr Mar Feb Jan

5. Competitions and grants One of the main ways for students to get initial funding Usually small amounts (c. £1,000) but can help to unlock funding from other sources Competitions are advertised at www. royalhollowayentrepreneurs .com /competitions Government grants are available from www. businesslink .gov.uk/support Grants for social enterprises and charities are at www. fundingcentral .org.uk/ www. unltd .org.uk Make sure you get advice on your application – you can book an appointment with me!

6. Building business relationships Many businesses minimise costs by bartering Sharing office space Promoting each other Combining forces You raise finance from friends and family and angel investors , and build business relationships with other companies by…

7. Pitching

8. Communications... Are a key to success: Career development Promoting your ideas Selling your services or products Making an impact The pitch is a key form of communication – master it!

9. What is an elevator pitch? Your 1 minute opportunity to: Tell the story Sell yourself or your idea Make a date for a meeting Leave a good impression

10. What can I pitch? Myself for career opportunities My idea for feedback, partnership, support My product / service for sale My firm for support, investment, sale

11. Who do I pitch to? Business owners Employers Peers The unexpected

12. Key Content: My Proposition Who am I? What is the problem I’m solving? How am I solving it? Why is my solution likely to succeed? What do I want from you? What will success look like for both of us? How will success shape the future?

13. Who am I? Hello, I’m John – John King I help students at Royal Holloway to start their own businesses and to become more entrepreneurial

14. What is the Problem I’m Solving? Students sometimes don’t have the confidence or skills to achieve success. They don’t know how to plug in to the right networks or how to make things happen. Often, this means that they don’t persist in trying to realise their ambitions, or that they aren’t ambitious enough in the first place. This is a tragedy for both the student and for society.

15. How am I solving it? I created Royal Holloway Entrepreneurs, a student-led organisation, which encourages more students to take part in enterprising activities. I also launched Enterprise Lab, a business incubation service. Finally I run intensive boot camps to make students more entrepreneurial.

16. Why is my solution likely to succeed? My strategy reaches out to more students than I could reach alone, and students listen to other students more than staff. Research has proven that boot camps work. And free incubation services are very useful when you have no money to start a business.

17. What do I want from you? I want you to join Royal Holloway Entrepreneurs by visiting the website at www.royalhollowayentrepreneurs.com I am also looking for Royal Holloway students to help out with activities next year.

18. What will success look like for both of us? The more members we have, the stronger the organisation becomes. This is good for you, because you will become part of a network of successful students, and will learn from helping other students to succeed. This is good for me, because the more students that help, the more students will join.

19. How will success shape the longer term? Longer term, the society needs to become self-funding, and your efforts – to include more people and to help find funding for the society – will help make this happen. The organisation could include every student at the College and become the strongest society in Europe.

20. Write Your Pitch Here’s your opportunity to get your pitch up to scratch: Write your personal 1 minute pitch Exercise

21. Key Content: My Proposition Who am I? What is the problem I’m solving? How am I solving it? Why is my solution likely to succeed? What do I want from you? What will success look like for both of us? How will success shape the future?

22. Perform Your Pitch Now perform your pitch once to each other person in the room Ask for their feedback They will give constructive feedback and write notes on your worksheet Exercise

23. Course programme 2pm-4pm in Arts Building S21 Finding role models and teams 20 Oct 1 Generating ideas 10 Nov 2 Planning your first year 24 Nov 3 Branding and building a website 8 Dec 4 Pitching and raising finance 12 Jan 5 Marketing and PR for startups 26 Jan 6 Selling and negotiating 9 Feb 7 Accounting and legal issues 23 Feb 8 Running an office and bookkeeping 9 Mar 9