In this guide, we will advise on how to re-pitch your expat business when the first round fails, so you can have a more successful second attempt. Continue reading to find out more about giving your expat business a second chance with a better pitch attempt.

Guide to Re-Pitching Your Expat Business

Diagnose Cause of Failure

Before re-doing your pitch, you need to understand what didn’t work the first time. You need to look at the data from your previous attempt to see where there are any gaps for improvement. Market mismatching could have been the issue, as you could’ve been selling a solution to a problem that your target audience doesn’t actually have. This means that you aren’t finding the right gap in the market for what your business is offering.

There could have been other reasons for failure, such as investors or customers failing to grasp exactly what the business does. This could be an issue with your branding or website, such as not providing users with enough information. It also could have been a translation or culture issue.

Read: How to Choose Protective Packaging that Actually Fits your Product (not Just your Budget)

Rewrite the Narrative

Having a great pitch is about focusing on what the customer wants rather than just the product’s features. You need to clearly state what the business did, so everyone can understand it. This can help customers and investors get a clear image of whether or not they’ll be interested in the brand, helping to save you time.

When re-pitching your expat business, transparency is key. Investors appreciate founders that pivot their ideas based on real market data and customer feedback rather than gut feelings or making a product just because they like it. Being able to handle your previous rejection and use it to create a new approach will be well-respected.

Use your cross-border experience as a strength too, as it shows that you have plenty of experience and could unlock some doors that weren’t previously available. You’ll have unique perspectives compared to other business owners in your new country, so you can spot gaps in the market that they might have missed.

Seek Honest Feedback

Since your first pitch has been rejected, it gives you a good opportunity to get feedback from customers and investors about what they didn’t like about your business. It can give you valuable insight into the changes you need to make that will best benefit your second pitch attempt. Make sure to ask previous investors exactly why they weren’t interested in your business, so you can find a solution to that. While some people will take feedback to heart and get upset, it needs to be used in a positive way for a strategic plan.

Honest feedback can also help to refine your unit economics, as well as improve your go-to-market strategy and overall narrative.

Adjust Business Model

Once you have identified the issues and gathered feedback, it might be time to change your business model. This might involve refining your pricing structure, streamlining your operational processes to better fit the local market or changing your core values to better attract your target customers. A business model in a new country needs to be prepared to make changes until you find a model that demonstrates clear scalability and profitability.

Your willingness to refine and adapt proves to investors that you are dedicated to long-term success rather than just sticking to an unproven plan, which will likely just get rejected again.

Refine Your Pitch Delivery

Once you have adjusted your business model, you should focus on the delivery of your revised pitch. Practice your presentation to ensure that you clearly articulate the changes you have made and why they better suit the local market. Your communication style should resonate with local stakeholders and emphasise the lessons learned from your first attempt. Demonstrating a clear understanding of your previous missteps, and how you have evolved, will build trust with investors and show that you are serious about succeeding in your new environment.

Make sure to have a good understanding of the language for the country you’re moving to. For example, if you’ve got your British Citizenship, you should have a good knowledge of the English language to give you a better chance with your pitch.

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