6 top tips for pitching for management
A top management team can be crucial when it comes to securing funding for your business. Growing Business reveals how to find and secure them
A top management team can be crucial when it comes to securing funding for your business but as a small start-up your existing team may well still be fairly small. If your company is hoping to grow, it may be necessary to look outside of your ranks and consider hiring some external management staff, to offer advice, support and experience. Not all top talent comes with a hefty price tag, there are lots of people out there willing to join start-ups just because they enjoy working for a small business. Their experience and contacts could prove vital for growing your business. So how do you find these people? And how do you convince them to join your team and not someone else’s?
1. Know your business inside out
Sounds simple, but although you’re sure to be passionate about your business and generally clued up, you need to prepare for a grilling on all the tiny details. Top-level management are in high-demand and they won’t want to join forces with your company if you can’t explain without hesitation your goals or finances.
2. Identify a skill gap
It’s vital to know what qualities you’re looking for in a candidate. Really look at your team and work out the strengths and weaknesses. What are you missing? It’s easy to be impressed when presented with a range of experienced managers but there’s no point hiring experience just for experience’s sake. Do you need someone that’s good with numbers, or that has bought a product to market before? Be as specific as possible with the experience you desire.
3. Be clear about what you want and need
Do you just want someone you can turn to for advice and run ideas by a few hours a month or are you hoping for someone to join your team full-time for day-to-day help? Are you looking for a short-term mentor or are you hoping for a long-term commitment in both time and energy? Maybe you’re hoping for investment? Be upfront from the offset about your expectations to avoid disappointment further down the line and explain your exit strategy so it’s clear what the ultimate aim is for the business.
4. Be honest about what you can offer
Not everyone can afford a massive salary, particularly in the early days of a start-up company, and that’s to be expected, but what can you offer instead? Hopefully whoever joins your small business will do so because they want to, not for the instant pay-off, but can you offer commission or stock options?
5. Do your research
As well as being clued up about your business, make sure you also research your potential new management. Look on local head-hunter websites and make sure you know what fees they charge, so you can evaluate if the investment will generate enough of a return. It’s only worth spending money if you’ll get it back from your new team member. Also try to attend local networking events in your area so you can meet people face-to-face and find out who’s out there that could be suitable for you and your company.
6. Make the most of your short pitching window
Whether it’s networking over coffee or at a live pitching event, you’ll only have a limited amount of time to sell your business. At events like Pitching for Management, you’ll have eight minutes for your pitch, plus a two minute Q and A so time really is of the essence. Ensure you can summarise the key strengths and the USP of your business succinctly and passionately. Your first meeting with your potential new team member won’t be your only opportunity to talk to them. At events they’ll be time for networking and exchanging details afterwards and meetings over coffee will surely be just a starting point. Nevertheless, first impressions count and an informative but concise business pitch will ensure your business is easy to grasp and remember and will leave your audience enticed to find out more. Whatever you’re looking for in a new team member, it’s important that your pitch is as seamless as possible. Moreover, you need to be sure that the talent you’re chasing is the best fit to take your company forward. Pitching for Management events enable businesses to present available roles to a talented room full of talented individuals. For more information on your nearest event or to book your place visit the Angel News event booking site.