Depending on the type of entrepreneur that you are, starting and running a business without sufficient capital is a daunting task. If this is the case for you, some or other time, you’re going to need to find an alternative way to fund your idea which may result in a pitch in front of a group of investors. Whether you choose to seek financial help through crowdfunding platforms or by approaching investors, you will need to carefully plan your pitch. The point is to convince people that your idea is worth their time and money.
The idea of a perfect investor pitch is being able to discuss your idea in a limited amount of time. You will need to refine your pitch to ensure that you cut out all of the unnecessary information and focus on what really matters to the audience. Here are a few ideas to consider when preparing your investor pitch:
- Learn to master your one-liner
To own a business, you need to be passionate about your idea. You need to be able to explain your entire business model and concept in one line that concludes your business’s mission. It might not come easy at first, but having some sort of idea will make your pitching experience easier and more valuable. You need to hook someone from the very beginning, so be sure to sit down and think about how to make the most of your brand and advertise it in one powerful line. In this process, try to avoid using too many buzzwords.
- Understand your audience
Whether you are speaking to one individual or a group of people, you will need to be able to adjust your pitch to suit the audience. If you are pitching to a group of investors, research each individual to give yourself a clear idea of who they are and what they’re looking to gain from this experience.
Most people will be impressed by your knowledge if you do so. And having some background knowledge of each individual will also help you put together a few questions that might prove necessary after your pitch. If you are speaking to a crowdfunding audience, you will need to simplify your pitch to make your idea understandable to the average Joe who might not (completely) understand your industry’s jargon.
- Practice makes perfect
One of the most important tasks to do when preparing for your pitch is to practice regularly. Practice alone, in front of your team, to a mentor or to a friend. Once you’ve created your pitch, consider how long it will take you to get your point across. If it takes 10 PowerPoint slides and a six-minute speech, you’ve lost your audience. Avoid using big words, and opt for phrases and words that you use on a daily basis.
Once you’ve perfected your pitch alone, make sure you speak to an audience. The reason for this is that your loved ones, friends or team members will be able to be honest with you about your pitch and give you the friendly criticism you need to improve it. When you’re finished, ask them questions about it. For example, whether it made sense, if it’s easy to understand or unique, and if it’s missing anything.
- Use figures and pictures
If you spend the majority of your pitching time talking, you could bore your audience. Take the time to structure your presentation to include both talking and imagery to backup your facts. On-screen visuals and numbers will help to maintain the audience’s attention, as well as keep them interested. Try to tell a story if you can, by keeping things interesting and conversational. You need to show that you are truly confident in your idea when trying to persuade influential people to invest in your startup.
Startup funding takes plenty of time and effort to attain. With so many incredible, and similar, ideas out there, you need to be able to show investment companies why your startup is so unique. While you might be one of the more introverted entrepreneurs who aren’t confident behind the mic, you will need to learn how to master your own pitching technique to successfully win over the hearts of the people you need to support you. During the early stages of your startup, before you look at crowdfunding platforms or investor opportunities, make it your mission to connect with influential leaders in the industry who can help you. Professional advice is always needed, so be sure to seek guidance and support wherever you go.