As a new entrepreneur, your pitch to investors could be the only thing to get your startup to succeed or it can eventually lead your idea down the hill. New entrepreneurs need special help in this case. So, here are some tips that can help you craft a great pitch that could turn heads and get your idea funded.
Try telling a story, it sells better. Storytelling is a proven way to capture the attention of listeners and hold it. A well-delivered storyline could make your pitch unforgettable. Most investors are easily bored with complex spreadsheets, graphs, numbers, and valuations.
They know how to get such information if they need it. On the other hand, the pathos and story behind your business idea can only be relayed by you and not by any term sheet. People, even the most data-savvy investors, love a good story.
Choose the audience carefully. It is important to do some findings of an investor’s interest before pitching your idea to him/her. As a new entrepreneur seeking for funds, pitching to unwilling investors is a waste of time.
According to business experts, angel investors should be the prime target of pitches by startups.
Make the pitch simple yet concise. A presentation is a crucial aspect of your pitching. Unfortunately, many entrepreneurs don’t know how to prepare a quality presentation. A pitch should show the business objectives and then examine how funding could expand it. It should not have any business jargons.
As a result, the pitch has to be delivered in simple and understandable language. Craft a simple and concise pitch. Go straight to the point.
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Set realistic timelines. Businesses work on deadlines. Therefore, it is very important to add timelines to your pitch. Don’t forget to set realisable goals and realistic timelines for these.
This will show investors how passionate you are about getting the necessary support for your startup. Also, investors will want to know when to expect returns on their investment. Hence, it is good to set sensible timelines for your business and inform investors about these.
Talk about sales. As a budding entrepreneur who has just started finding his feet and recording sales, speak up about this when pitching to investors. Mention the sales figures and try to explain them within specific time frames.
Your business is bound to expand when investors put money into it. So, your pitch should explain how the startup will further increase the sales after receiving funds.
Be bold. Your pitch should convince investors about how the infusion of funds will help achieve your business goals. You need to be courageous to explain your points step-by-step and answer all questions with patience. Investors will love to know how their investments will yield nice profits.
It is absolutely important that your pitch contains your product/service, target market, the demographics, business model, marketing strategy, competition and a team. It should also chalk the exit strategy for the investors. Dress smartly and be confident about the presentation, follow these tips to get the required funding and make your dream a success!
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