Pitching investors will inevitably be a path many entrepreneurs will tread. Pitching is not just for entrepreneurs looking for money. Most of us at different points in our lives have experienced pitching for a proposal we want to happen. Whether it is getting mom to buy us tickets to a band’s concert or getting approval for a loan, a successful pitch is composed of the same elements. Here are points to follow to get that perfect pitch.
Get To The Point Quickly
Attention spans are getting shorter and shorter, especially when pitching investors. This is especially true for the new generation who are used to everything on-demand. Many things are becoming minimal, whether it is blogs, the news report, or websites. So as not to lose their attention, get to your point quickly and succinctly. Use Harvard’s Elevator Pitch Builder which gives you a minute to explain yourself, your goals and your business. Also, make sure your presentation is dynamic and lively. This article here teaches you everything you need to know about making that presentation go wild.
Use Less Slides When Pitching Investors
Since attention is getting shorter and you need to get to the point quickly, don’t use too many slides. Limit your slides to 10 if possible. The fewer slides you use, the quicker your presentation will be, which will keep you from going astray. Use downloadable ready-made slide decks.
Establish A Need
The best products that sell are those that are needed. When giving a presentation always answer the question “What problem does that solve?”. Convince the audience that there is a need by giving them a problem and telling them that you have the solution.
Message Map
For complex pitches, use the message map, a tool that will help you convey your idea simply and quickly. It helps explain an idea visually, all in one page in just 15 seconds. It involves a Twitter friendly headline, 3 benefits that support the headline and reinforcement of the 3 benefits.
Multi-Level Structure
Scott Berkun, author of How to Pitch Your Idea, recommends using 3 levels for your pitch: 5 seconds to explain your idea in one sentence, 30 seconds to explain to the audience how to achieve your plan. Once they understand this, use 5 minutes to broaden it so that they can get a clearer idea of what you’re proposing.
Competitive Advantage
Identify who your competition is and tell the audience your competitive advantage. Show them why your idea or product is better than what your competitor is offering. It is also a good idea to tell the audience who the potential entrants are and what you’re doing to shield against them.
Catchphrase
Include a catchphrase when pitching a product. The Macbook Air for example was “the world’s thinnest notebook” when first introduced. A catchphrase will help people and the audiences remember your product. Developing a good catch phrase is a huge part of developing your brand’s message. Learn more on reinforcing your brand here.
The Team
Listeners and investors like to know that you have a good solid team behind you. When pitching investors, make sure you also show them confidence by introducing your team. You can introduce them at the beginning or end of your pitch. Don’t go into every single detail about them. Focus on the highs and relevant accomplishments of team members. Building a dream team is critical for your success, check this article out to learn how to build that dream team!
Know When To Stop Selling
Learn to read the signs on when to stop selling. Pitching investors doesn’t always mean you have to be constantly selling the whole time. A good salesperson knows when the idea has hit home. When you continue to talk beyond this point you could say something that could reverse the positive direction of the pitch. To learn more about selling, check out this article here.
Don’t Beg
There is a fine line between showing passion for your idea and begging listeners to like it. A little nervousness is expected but adopting an attitude of begging does not serve well. If you feel that your idea has merit, pitch like you believe in it without sounding arrogant or obnoxious. Hone your pitching skills by watching shows like Shark Tank or Dragon’s Den.
Deliver a pitch that instills confidence in your team and communicate your idea with clarity. If you are able to do this, then you are on your way to a successful pitch.
