I’ve seen hundreds of startups pitch to venture capitalists and angel investors, and the majority of them, at best, are just okay.There have been a lot of them that were pretty good and hit all the important parts of a investor pitch, but only a few of them went all the way and were really great.
It turns out that when I think about what made those great pitches stand out from the rest, they all had some characteristics in common.You will also give the kind of pitch that stands out to investors if you use these nine tips for taking a good pitch and making it great.
Open your pitch with a real-life customer story that addresses the problem your product or service solves in the market. If at all possible, do this.
When telling your story, refrain from using buzzwords and technical jargon.Use actual customer challenges and real names instead.Be realistic and keep it simple.The stories you tell are ultimately what people will remember after they leave you, so it’s important to have a few compelling customer stories ready to share.
Reduce it to the essentials
I’ve heard many entrepreneurs present their pitch in the manner of an antiques auction.They must be anxious, tense, and nervous because they believe they must address every aspect of their business plan simultaneously.
I generally wish they’d unwind and understand that while you’re giving a pitch, toning it down would be best.Take a long, deep breath before speaking, and make a list of the most important points you want to cover.I guarantee it will assist you in delivering a pitch that is more compelling and thoughtful.
Make sure that everyone can understand your presentation. If you can convince someone who doesn’t understand your business model to understand what you’re saying, you’re ready to give a pretty good pitch.Acronyms, technical jargon, and other gibberish have been commonplace in some of the worst pitches I’ve seen.
Your pitch should be succinct, concise, and to the point.Practice your pitch with a person who isn’t part of your business. Have them tell you what they think your business model is and ask you questions.I’ve done this a lot, and hearing what other people say back is always eye-opening.
Talk about yourself
It’s important to know that investors first and foremost invest in people, not ideas.Actually, I’ve had a few financial backers advise me to update them as often as possible on my next startup since they might want to put resources into me and my next adventure.
So, don’t be afraid to talk about your and your team’s successes, especially if they relate to what it takes to start and grow a business.Whenever possible, demonstrate to investors why you are the best people to run this business.
Inform us:What have you been doing recently?
This means that you should talk about the accomplishments and momentum your team has achieved since your company was founded.How frequently this is left out of pitches always astonishes me.
Investors are interested in learning about your first customers, other investments (including your own sweat equity), key media placement, signed letters of intent (LOI) to purchase or partner, product and customer milestones, key hires, and so forth.You will be expected to be the company’s lead salesperson as CEO, so demonstrate to investors that you can sell them on your business.