These days, the energy game has begun heating up. No, literally. There are thousands upon thousands of consumers that need energy in one form or another. Whether they’re powering up their devices or charging their phone, there’s always a need for it. Bigger companies are getting the job done, but this is no time to cut out smaller energy startup companies. They have big solutions on the horizon, and they’re paying off for consumers.
That said, you may have your own idea for an energy startup. And no, we’re not talking a dozen hamsters running around in little wheels. We mean you have a good solution on your hands that’s not only viable in terms of cost but also earth-friendly to boot. (That’s something that’s huge on the energy front right now, so don’t ignore that factor.) But what steps do you take when it comes to getting your energy startup off the ground?
Well, don’t go for flash. That’s the first thing we can tell you. You’ll want to establish a good plan when it comes to detailing your energy startup. But here are some other steps you can take that will help you get your energy startup off the ground. Just remember, don’t sell something you don’t have. Investors hate that, and it can always come back to bite you in the wall socket. Let’s get started.
With an Energy Startup, Go Over Terms Investors Want to Hear
First up, when you’re pitching an energy startup, don’t treat your investors like idiots. By that, we mean, they understand how the energy game works. So you don’t need to get into principles they’re already aware of. Instead, talk about your approach to things. What are you looking to do with your energy solution? How will it work? What inspired you to put it together? Remember, you’re selling yourself just as effectively as you are your energy startup.
With that, you’ll also want to cover areas that will be vital to your investors. For instance, cost. Cost is going to be a really effective one. How can you drum up a great deal of energy without making the bills sky-high? Do you have awesome solar solutions where the power of the sun can play a good part? Can you produce clean energy without dragging a dirty bill behind it? You’ll want to keep responsibility in play, but also remember that cost is a huge value.
Finally, don’t go too overboard with detail, but cover the basics. What do you want to do with your energy solution? How do you want to put it together? Can you possibly get your company to grow over the next few years? And how will you get that growth going? You’ll want to cover all of these within your plan, then get ready to make the pitch of a lifetime. Again, your investors aren’t fools, so tell them what they want to hear – and don’t flub with items you can’t deliver.
Don’t Rush Your Pitch. Check in with Others.
Before you call in the investors and take your shot of a lifetime with your energy startup, take some time first. After all, if you blow this, you may not be able to get the funding you want. So do your research before you start throwing pitches around.
By that, we mean looking into other energy startups. What makes them so effective and, at the same time, successful? That’s not to say copy their business model, but look at how well it works for them. Maybe even ask a question or two if possible, but without sounding like some kind of bloodthirsty rival. Remember, curiosity can help shape your pitch, allowing you to alter it as you see fit so that it fits you. Not what they offer, but what you offer.
From there, also be sure to check in with external reviewers. Believe it or not, pitching to your friends or family (or even close business colleagues) can make a world of difference. They can see things from body language to delivery to asking questions that you might expect the investor to ask. Remember, you want to be prepared just in case they have a flood of questions. Otherwise, you’re sitting there lacking the energy you’re promising from your company.
So take the time with your pitch. Practice, practice, practice. What makes your energy startup stand out from so many others? How will your viable solutions make a difference in the market? Can your startup save money and help produce dividends for your investors? They’ll pay attention to all of these. So be ready.
Finally, don’t forget to be yourself. Don’t sell something you don’t have. Be energetic, be creative, and have fun with your pitch. Put that energy to good use!