Envestors Business Plan Phase: A one-on-one online interview

Make sure your pitch deck aligns with the Envestors template and includes these essentials:

Section 1: Business Concept

• What is your business concept?
• What problem is it solving?
• Explain your business model and revenue model

Section 2: Market and Competitor Analysis

• What is the size of the market you are entering and what is the growth rate?
• Current trends in the market and reason for entering.
• Are their any competitors in the market and how are they performing?

Section 3: Traction

• What stage of development is this business concept at?
• What are the funding requirements to bring this business concept to market?
• What are the sources of these funds?

Section 4: Innovation

• What is unique and innovative about your business concept?
• Compare yourself to 3 UK/ global competitors.

Section 5: Scalability

• How will your business be scalable? Explain in terms of location, numbers of employees and product offerings.
• Describe your growth strategy for the UK and then internationally, if applicable.

Section 6: Viability

• What makes you a suitable candidate to start this business in the UK?
• What is your previous work experience in this industry?
• Why have you chosen the UK to start this business?

Now let’s dive into some Salmo pro tips created just for you.

Tip 1: Make an good impression

This is literally your ONLY shot to meet them face-to-face before they make their big decision. So, yeah, making a killer first impression? Super crucial. It’s like your moment to shine, to show them the real you behind the application.

Now, you might think, “It’s just a meeting, right? How big a deal can it be?” Well, let me tell you, it's huge. Those small things – being punctual, dressing smart, being polite – they might seem minor, but they pack a punch. They're your secret weapons to show you're not just another applicant; you're the real deal, ready to take on this challenge

Tip 2: Show your Passion and Drive

In the eyes of the endorsing body, they're on the lookout for "genuine founders" committed to sparking innovation within the UK. It's crucial, then, that your enthusiasm and dedication to your venture shine through. This meeting is more than just a chat. It's your platform to show them your passion, your drive, and that you've got what it takes to make your business soar. So, don’t let those little details slide. They’re not just details; they’re your stepping stones to making an unforgettable impression. Trust me, in the grand scheme of things, they matter more than you might think.

Tip 3: Know your material inside out

Knowing your material isn't just about memorizing facts and figures. It's about understanding the heart and soul of your business. What problem are you solving? Who are you solving it for? How does your solution stand out from the crowd? And most importantly, why are you the person to bring this vision to life?

So, before you walk into that Zoom interview room, take the time to really dive deep into your business plan. Practice your pitch until you can deliver it in your sleep. Anticipate questions and rehearse your answers. And remember, it's not just about what you say; it's about how you say it. 

Tip 4: Be Prepared to Talk Numbers

When it comes to impressing the endorsing body, your ability to confidently navigate through your business's financial landscape is key. This means having more than just a surface-level understanding of your numbers. You need to be intimately familiar with every aspect of your financials, ready to dive into discussions about your revenue model, how you've priced your products or services, the underlying cost structure, and, critically, your financial projections for the future.

These figures aren't just numbers; they're a testament to the viability and scalability of your business idea. They demonstrate that you're not just a dreamer but someone who has meticulously thought through how to turn your vision into a profitable reality.

Here are a few examples of the numbers you should know inside out:

• Start-up Costs: The total initial capital required to get your business off the ground. This includes expenses such as legal fees, licensing, equipment purchases, initial inventory, and marketing.
• Operating Expenses: The recurring costs necessary to run your business, such as rent, utilities, salaries, marketing expenses, and insurance.
• Revenue Model: How your business earns money, detailing the sources of income. This could include sales of products or services, subscription models, or advertising revenue.
• Pricing Strategy: The logic behind your pricing model for products or services, including cost-plus pricing, value-based pricing, or competitive pricing.
• Sales Forecasts: Projected sales over a specific period, often broken down by month or quarter, based on market research, historical sales data, and marketing strategies.
• Cash Flow Projections: An estimate of the cash inflows and outflows over a certain period, highlighting when and how cash shortages could occur and planning for them.
• Break-even Analysis: The point at which total costs and total revenue are equal, meaning your business starts to generate a profit beyond this point.
• Profit Margins: Gross, operating, and net profit margins, which illustrate the efficiency of your business in turning revenue into profit at various stages of the business process.
• Customer Acquisition Cost (CAC): The total cost associated with acquiring a new customer, including all marketing and sales expenses.

Remember, if you ever feel too overwhelmed by building the comprehensive financial projections, Salmo's Endorsing Service has got your back. The experts here will help you craft a realistic five-year financial projection. By delving deep into your industry specifics, we ensure your numbers aren't just impressive—they're feasible and grounded in real-world expectations.