A pitch in very simple terms is a way to communicate what your business is, what it does and what you’re looking for.
You’re telling investors something that they don’t already know and hopefully piquing their interest so that they will invest.
Here are four simple ways you can elevate your pitch and grab investors’ attention
You’ve got a maximum of 3 mins to make a memorable impression. So you’ve got to be concise, clear and succinct. Good pitches are short and to the point and pique the interest of your listener. Think about the time you have standing in an elevator going from the bottom floor to the 10th floor. This is not the moment to share all your whole business plan in depth. When you pitch you need to outline your business and help the listener quickly grasp what you do and why. Then make sure we know what you’re asking for and how you are going to grow exponentially with some capital on your balance sheet.
Know Your Numbers
It’s easy to spot people who don’t really understand their own metrics. You should be able to tell us all the important numbers – your revenue, your profit margin and any really pertinent metrics for your business. I love to see that you also understand how big your market is and how much of your market you think you can service. It’s an indicator of how big you are thinking and how scaleable your business idea is.
Investors prefer angles or new ways of looking at the same issue so don’t forget to ensure you establish how your business will solve a problem differently from competitors within your market – find your angle.
Tip: Utilizing a one-page teaser that summarizes your heavy-hitting points often grabs attention and makes an investor want to look deeper into your pitch.
Showcase You and Your team
Investors back people. Even more than how impressive your business idea is – is how impressive your team is. Most investors are not looking for finished, perfected businesses but they are looking for dream teams who will have what it takes to make your vision happen. You’re not just pitching your business, you’re pitching yourself. Ask yourself: How do I demonstrate that I and my business are extraordinary?
Don’t take no for an answer.
It’s inescapable that you will hear a no before you hear a yes. Don’t let it discourage you. When you get an inevitable rejection, use it to learn and build relationships. If you weren’t right for that investor you may be right for someone they know and you may still get a yes from that investor if you keep in touch. After a no, always keep in touch, keep sending updates on your progress and how well you are doing. You never know you might still pique their interest.
Remember: Persistence will get you noticed. Don’t be afraid to follow up and communicate why you deserve an opportunity to pitch again and win their vote.
Good luck on your next pitch – I look forward to hearing it! Remember practice definitely does make perfect so hopefully these tips will help you perfect your pitch. If you have any questions, feel free to connect with me on LinkedIn or Instagram.