We promote and host a lot of Pitch Events. From pitching competitions where entrepreneurs work to hone their messages to real-life pitches to investors for funding, there are many items to keep in mind for your pitch. And, most of these are items you can use in creating and sharing your story, your business idea and your message to more than just investors.
First, when it comes to pitching for your business, it’s important to realize that you might not be completely prepared for everything that may come your way. It’s imperative, however, that you try to plan for any and every possible outcome. And, the more your prepared to roll with the unexpected, take it in stride and stay calm – the more confidence you display to any audience.
Here Are Five Simple Tips To Help You Perfect Your Pitch.
Remember That Less Is More.
Hence, the “elevator pitch.” Investors are looking for details told in a concise way. They want to know that you can talk about your business, from beginning to end, in a short amount of time, and do it well. This takes practice! Get together with friends or colleagues, business partners or family members, and practice your pitch in front of them. Ask them questions. Get them to ask YOU questions. Make sure they understand every aspect of your pitch as clearly as possible. If they don’t, you still have work to do.
Focus On The Essentials.
Big picture is cool, but reality is better. Build your pitch around concrete details. It’s okay to talk about the big picture, and even paint the idea in an investor’s mind about what the future will look like. But understand that most investors want to know what you’re bringing to the table now. Remember that you’re not pitching a movie script or trying to sell a novel. You’re trying to sell a product or a service and the best thing you can do is stick to the most basic, important pieces.
Know Your Audience.
This one gets looked over too often. Do your research! And not just on your product, but on whoever you’re pitching to. Information is so accessible these days, so make sure you use that to your advantage.
- Look at what or who they’ve invested in previously
- Find out their backgrounds, as much as you can
- Uncover how successful previous investments have been. If they haven’t been successful, find out why.
- See how much time they’ll be able to give you.
Taking time to know and understand who you’re pitching too will help make your pitch even more successful. You’ll also learn if they’re going to be a good fit for you and your business, too.
Be Open About Your Exit Strategy.
If you haven’t given this one a good thought, you’re missing the boat. It seems counterintuitive but it’s important to always be thinking about how you might exit your business. Investors will look for this, too, so make sure you incorporate your exit plan into your pitch.
This is half the battle, (maybe even more)!
Investors are certainly going to focus on your product or proposal, but realize that they’ll also be looking at you. They’ll be taking stock of how you engage, how you speak, how you interact, and how you present. You’re an important part of your idea and of making sure that you can sell it.
How Can We Help?
These five tips will help you really hone in on your pitch and ensure that you’re as prepared as possible for meeting with investors. If you need further assistance in perfecting your pitch, stop in to Launch today or contact us now. We’re happy to connect you to resources, pitch competitions and more.