Entrepreneurs must do their best when presenting their business pitch to the investors in order to get the company off the ground and capitalize on opportunities. It’s important to make finances a priority if you want your business to run for years to come.
The problem is that a killer idea may not be worth the paper it is written on without a plan on how to present it to investors.
Namely, how you sell the idea could be as important as the idea itself. Business pitches take place in various settings, from elevators and lobbies to cocktail parties and conference rooms.
Often, you have limited time to make an impression.
So, there are a lot of things to consider if you really mean to hit a homerun.
#1. Do the homework
If you want to be able to handle any situation, there are three basic principles you need to adhere to – prepare, prepare, prepare. So, research the bios, investment background and social media accounts of all the investors who will be present in the room.
Figure out what drives these people and use the insights to your advantage. Also, you have to know the key points of the presentation like the back of your hand. Nail the first few minutes and keep the good momentum going.
If you can afford it or the investment required is large you may use an open source intelligence company to find as many details as possible about the investors: what companies they already invested in, what is their business principles, risk tolerance etc.
#2. Rely on the learning exercise
Likewise, it is of the utmost importance to practice your pitch in front of people, not just the mirror. There is no such thing as cutting corners here; practice makes perfect, so refine your pitch to the tiniest of details.
It is not advisable to do this in front of the biased audience, such as a family or friends. And once you get familiar with every aspect of your pitch, you will be able to deliver your presentation flawlessly.
#3. Stick to the game plan
A rock-solid business plan is the cornerstone of your pitch. Without it, investors will not be enticed to take your ideas into consideration. A plan gives you credibility because you can rely on data and numbers like the sales history.
Apart from laying out sales year to date, you might also need to talk about how well you expect to perform this year. These aspects give investors a sense of confidence and validate your products and ideas in their eyes.
#4. Unfolding the story
At the end of the day, it all comes down to telling a great story and making a connection. Some presentations are more rigid and formal than others, but flexibility usually does the trick.
After all, a story is more than the sum of its parts or the mere list of cold facts. Also, bear in mind that emotions play an important role, so try to connect on a personal level with the investors.
Even decisions that seem logical and rational tend to have an emotional underlayer.
#5. Get the presentation right
Some of the best presentations out there are highly interactive and harness the immense power of visual cues. The appeal of these engaging elements is rooted in psychological workings of our brain and they hit the mark as sure as eggs.
Thus, visualize your ideas to put the best face forward. Check out how to craft a compelling, professional PowerPoint presentation. You can even go the extra mile and bring products or parts of them to let investors hold them in their hands.
#6. Personal dimension
Promoting yourself as a credible and trustworthy businessman is an integral part of the business pitch. Thus, introduce your work ethics and business acumen. Come across as savvy, dedicated, and smart. Impress with your long-term vision and ignite the passion within.
At the same time, back up strong statements with facts and figures. Answer any question or objection like you were born to do it. Know your strengths and weaknesses. Be genuine and crystal-clear.
With flying colors
Do your homework and have it all down before the big day. Hope for the best and prepare for the worst, such as investors being skeptical and critical. Inspire and engage your audience by being a great storyteller.
Make an impact with a peerless presentation. Take advantage of visual tools and back your claims with real dollar figures.
Finally, keep your cool. By following these simple rules, you should be able to bring the house down and valuable partnerships to the table. You may also want to read our article on how to stop waiting to be picked if you want to succeed