Know your numbers
Ever watched entrepreneurs on Dragons’ Den present amazing ideas, only to be left sweating under the studio lights over their lack of numerical know-how? Don’t be like them! “Numbers should be at the heart of your proposal,” says Deutsche Bank CEO for UK and Ireland, Tiina Lee. “Think about it: you’re asking for investment and support, and numbers will go a long way to demonstrating the viability of your enterprise.”
This means being able to demonstrate a realistic, financially stable and profitable business model. Theadora Alexander, co-founder of Young Foodies, advises considering “the business behind the business” as soon as possible: “Think about how you’re going to be making money out of this – and early on – so you’re truly investable.” In addition, you’ll want to be ready to talk about your marketability and vision for the future.