New entrepreneurs struggle to deliver a well-tailored yet succinct and concise pitch. Below are our tips and points of consideration for a pitch that will draw investors and convince them to commit in your idea.
1. Investors will stereotype you
We may assume investors judge us based on our merits and over careful thinking. The reality is that they box entrepreneurs into different categories.
2.Feeling of inclusion
A good pitcher would give a pitch that conjures the feeling of inclusion in your business idea. When they feel included, they are more convinced about your business.
3. Be succinct and concise
Investors are busy people and are sought after for their investments by numerous start-ups. Keep your pitch within 10 minutes. Practice it with a friend or someone who do not know about your business. If they can understand your idea from A-Z and foresee the prospects of it in 10 minutes, then you’d know if your pitch is succinct and concise.
4. Tell exactly what is your product and its USP
An investor is like a customer. They need to be informed about your product or service. It’s capabilities, features and unique selling point.
5.Differentiate yourself
If there is a lack of parity in your industry, then its so much more important for investors to see how you differentiate your product or service from your competitors.
6. State who your target audience is clearly
Investors need to know who is your target audience in order to evaluate the potential of your idea Failing to make it clear will lead to investors assuming you yourself do not know who you are targetting.
7.Explain how you gain customers
Even if an idea is good, you need to tell investors how your business plans to attain customers. This helps them gauge whether your business is sustainable, and how you would be covering your operating costs.
8.Explain your revenue model
This is key in selling and luring your idea to investors. Do this well and show them how much growth and revenue you’d make. Investors are looking for promising returns.
9. Give them an exit strategy
An exit strategy isn’t your company’s future evaluation. The exit strategy an investor wants to hear is, will it lead to IPO, acquisition or licensing etc? They want to know that you have thought about its bigger future and how you’d cushion the risks.
10.Dress smart and be enthusiastic
Humans are visual creatures. Dress appropriately to give off the right impression. Be enthusiastic about your business. This may be hard for new entrepreneurs who are still comfortable being in their comfort zone.
The right pitch takes time, effort and some heavy negative criticism but if you are feeling lost or stuck, contact us at tempo@braatheenterprises.comor set up a call with me: http://meetme.so/RobertBraathe. With years of experience in marketing and the business industry, your pitch is a step away from getting those investments rolling in.
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