Trinidad
and Tobago, July 31st,
2019
-- An entrepreneur looking to boost or expand her business needs all
the support she can get and this includes opportunities to woo
investors.

Regardless
of what great story is told or presentation made, investors need
specific items for consideration, said Gillian Charles-Gollop, CIBC
FirstCaribbean’s Executive Director, Corporate Investment Banking
and Advisory.

Speaking
at the Caribbean Women in ICT Power Lunch and Pitch hosted by Canto
on July 23, Charles-Gollop offered the audience tips on best steps to
attract an investor. CWIC
is the culmination of a women’s entrepreneurship programme
facilitated by SmartTerm,
a Caribbean e-learning solutions provider. Its aim is to share
candidly with six young Tobagonian women entrepreneur finalists what
investors are looking for in a business pitch.

Charles-Gollop’s
presentation included important check-list items. First, she said,
you have to get the investor see the business as a good opportunity,
with clear, concise delivery in the first five minutes of the
conversation. “However, there are key fundamentals that prudent
investor will look for,” she said.

Return
on Investment (ROI) and payback are just as important as the initial
pitch, she said. A business plan and financial projections would
provide support to presenting positive ROIs and payback, she added.
In addition, an investor would like to see the uniqueness of the
product – that special element that would make it stand out from
the competition.

“Keep
in mind that investors will be assessing whether your product or
service is worth consideration and whether the opportunity is a
financially viable one,” said Charles-Gollop. “A
really seasoned, experienced investor will be able to determine very
early on whether a pitch is worth further effort or consideration.”

Preparation
of the pitch should focus on key areas that would provide context and
framework to keep the investor engaged as he or she is considering a
strategic fit and potential benefits.

But
most of all, she added, an investor seeks proof of success. Data was
very crucial in this part of the deliberation, Charles-Gollop said.

“You
have to show the ability to demonstrate your product acceptance in
the market or the demographics of your customer base as good reasons
for an investor to pay attention,” she said. “If you are offering
solutions – whether a product or service – can you demonstrate to
an actual problem solved?”

She
noted the entrepreneur must also be aware of the possibility that the
investor may consider the competitor that has less risk and better
returns. But a business plan, if it’s worth its salt, should
factor key elements that would answer such concerns.

Even
with the check-list noted and executed, the most important element of
wooing the investor is trust. “Character and creditability are
fundamental factors,” Charles-Gollop said.

Citing
Stephen Covey’s The
Speed of Trust,
she outlined the importance of trust in business interactions.

Integrity
in business as an entrepreneur is important to build trust with
partners. Integrity is being honest, authentic, telling the truth and
leaving the right impression. For example, are you overselling your
product or service? Are you aware of your product limitations or your
skill sets?

Intent
allows the entrepreneur to ensure there is clarity in
motive/objective and her actions demonstrate the same.

Capability
presents the opportunity to demonstrate how the entrepreneur is
driving this business to success and have the prerequisite skills
needed. Results show what has been achieved. These four elements, she
said, are the ideal traits that are reflected in the business pitch
may convince an investor to put his (or her) money where it deserves
to be.

At
this event, CIBC FirstCaribbean
also awarded prizes for the top three pitches.

Also
part of the Canto experience, Charles-Gollop presented at the forum
“How technology is transforming business – A look at
transformation in the Energy, Health, Finance and Aviation
Industries.”

END

Caption:

Gillian
Charles-Gollop, CIBC First Caribbean Executive Director, Corporate
Investment Banking and Advisory, third right, with the six Tobago
finalists and the judging panel.

About
CIBC FirstCaribbean

CIBC
FirstCaribbean is a relationship bank offering a full range of market
leading financial services through our Corporate and Investment
Banking, Retail and Business Banking and Wealth Management segments.
We are located in sixteen (16) countries around the Caribbean,
providing the banking services that fit our customers’ lives
through approximately 3,000 employees in 68 branches and offices. We
are one of the largest regionally listed financial services
institutions in the English and Dutch speaking Caribbean, with over
US$11 billion in assets and market capitalization of US $2 billion.
We also have an office in Hong Kong. The face of banking is changing
throughout the world and CIBC FirstCaribbean intends to lead these
changes with the expertise, integrity and knowledge gained from
banking in the Caribbean since 1836.

CIBC
FirstCaribbean is a member of the CIBC Group. CIBC is a leading
Canadian-based global financial institution with 11 million personal
banking and business clients. Through our three major business units
- Retail and Business Banking, Wealth Management and Capital Markets
- CIBC offers a full range of products and services through its
comprehensive electronic banking network, branches and offices
across Canada with offices in the United States and
around the world.

For
more information about CIBC FirstCaribbean, visit www.cibcfcib.com
,
Facebook,
Twitter
, LinkedIn,
Instagram
or YouTube.