A company’s plan for making a profit. Identifying the the products or services the business plans to sell, its identified target market, and any anticipated expenses.
“As you think you've got it right, you suddenly have to pivot and change. And so there isn't a science, there is patience, there's being kind to yourself.” Victoria Harris
Investors are really interested to see if your business is one that is set up to be on a path to profitability. Do the founders understand the brilliant basics that they need to obsess about every day? Do the founders have a process that allows them to adjust how they test their assumptions at different points of the life cycle of the business? These are some of the questions that an investor has in mind.
Meet Victoria Harris, an enabler of founders who currently serves as the COO at WomHub. Victoria masterfully takes us through the different planning and modelling requirements for a business as it moves through different stages. We are fans of her human-centred approach to all things scaling businesses too.
Here are the questions we asked Victoria:
What do we mean by the term business model?
What is the importance of demonstrating we have a business model to investors?
What is the difference between a business plan and a business model?
What are the parts of my business model that are important for an investor to understand?
What is DD?
What are the parts of my business model that will make an investor confident about my journey to profitability?
What metrics need to sit in my business model?
Watch the episode here:
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About Let’s Get Funded
Branson Centre has partnered with the UK SA Tech Hub, an initiative of the UK Government, to create our on-demand series ‘Let’s Get Funded’, for founders looking to get funded. We connected with South Africa's most experienced and inspiring female finance professionals to discuss investor readiness. Let's Get Funded challenges traditional financial and investment content norms with a conversational 9-part series of on-demand content.
In partnership with:
Crafting a Convincing Pitch
The Crucial Role of Business Model in Attracting Early-Stage Investment
Effective storytelling plays a pivotal role in capturing the attention of investors. Therefore, it is vital to address the following questions during your pitch and conversations with potential investors. Equally important is to substantiate these aspects through compelling evidence of your business model.
By addressing these key areas and supporting them with compelling evidence, you will significantly enhance your pitch and attract potential investors.