If you’re a business owner, you’ll need to understand how to pitch your idea. Which will come in helpful if and when you wish to seek funding.
A comprehensive business strategy is the foundation of any effective pitch. It’s up to you to figure out what makes your company useful and worthwhile to invest in. You might well have 7-pages of historical financial statements and a thorough study of how you compare to the competitors in different areas, but you literally cannot cover everything.
Since you’ll only have approximately a couple of minutes to present your case when proposing to angel investors or venture financiers for the first time. This is how to make your fast-pitch a hit.
1. Make a Slideshow
Take the time to prepare your pitch deck beforehand. The objective is to make a deck that is simple to work with and that gets financiers enthused about your company.
Keeping this in mind, you should prepare a ten-minute rendition as well as an extensive one that covers everything you’d like to share with possible investors. Such things to keep in mind are your objectives, your client demographics and your product details, for instance, your new bucket design and what solutions it will offer to your targeted market.
To get started, download free Powerpoint pitch deck templates. If you need assistance putting together your pitch, have a look at this list of resources that can assist you in developing a successful creative presentation.
2. Rehearse Your Pitch
You should work on your pitch. Because you won’t be able to rapidly communicate with each aspect of your company, every other suggestion on this list will be rendered useless.
Very many business founders believe that simply knowing their business will enable them to convey its value quickly and concisely. Furthermore, having a fantastic pitch deck with gaze-popping images would suffice. As a result, they arrive at pitch meetings ill-equipped.
Rather than saying, “I only need 10 to 15 minutes,” and truly spending 10 minutes, you’ll quickly find yourself babbling for 20 minutes after only getting through slide 5. Make the efforts to rehearse, streamline your communication, and preserve just the components that contribute to the success of your company. Anything else may be left on the chopping block.
For instance, if you are presenting your startups to investors in a tradeshow, together with other startups, you need to ensure that your booth stands up. If you are located in Las Vegas, you can always rent a trade show display in Las Vegas. It’ll allow you to display the major aspects of your startup without putting too much effort or having to explain a lot to your potential financiers. Consider investing in good lighting as you set up your booth. It bids well for you if you can have a good presentation for both your booth and startup presentation.
3. Create a Narrative to Illustrate the Issue
Launch your pitch by telling a captivating tale. It must address the consumer problems you’re trying to solve. This will immediately pique your audience’s interest. Also, if you’ve conducted any analysis, try to share the results.
It’s much better if you can link your narrative to your audience, in this example, the investor. What sectors have they already ventured in? What issues have they encountered in their past business ventures? Do some research on the investor so you know what they’re interested in and can adapt your narrative to them.
4. Describe Your Approach
Share what makes your product special and how it will fix the problem you mentioned in the previous slide.
Keep it brief, simple, and easy to convey to others for the investor. Unless potential investors are extremely knowledgeable about your sector, avoid utilizing jargon. If you’ve done any preliminary testing, include the findings here to give your solutions more legitimacy.
5. Identify Your Intended Consumers
Even though that is true someday, don’t suggest that everybody on the planet is possibly your target customer.
Consider who you’re creating your product for and divide your market into TAM, SAM, and SOM segments. This will not only wow your listeners, but will also assist you in strategizing your roll-out strategy.
When talking about your target market, attempt to create a user persona or your ideal client if you can. This can assist investors in visualizing the prospective client base and shows that you’ve given careful consideration to who your company will service. In a brief pitch, it’s also far easier to talk to a specific person rather than a wide demographic.
6. Outline Your Income Stream or Business Model
This slide is usually the most important to investors. How are you going to make money? Be very precise about your items and price, and highlight how eagerly your market awaits your presence once more.
7. Marketing and Sales Approach for Acquiring Customers
This is one of the elements of an investor pitch and a comprehensive business plan that is frequently overlooked. How will you communicate with your customers? How much will it set you back? What criteria will you use to determine success?
The Bottom Line
You’ll never know how fantastic your pitch is unless you give it a shot. Don’t overthink it, and approach each investor presentation as a learning opportunity for you and your company. You’ll only grow better as time goes on, and you’ll be able to apply what you’ve learned to every aspect of your business. All the best!