Imagine that you are in a room with the investors you have always dreamed of working with, and they are here to listen to you talk about your business. This is your moment and you have to seal it. If you manage to give a powerful pitch, there is no doubt that you will receive the investment which could take your company to the next level.
Two scenarios might happen during your pitch day: the stars will align, and you will come out of the room with a wide smile on your face, or the nervousness will take over your pitch. As an ambitious entrepreneur it is obvious that you’re contemplating success only.
We are sharing with you the secret tricks that have been used by the world’s most successful entrepreneurs. Remember, no one gets investment by luck, there is always a lot of hard work behind a compelling elevator pitch.
Talk about the problem you are solving
Almost any business is focused on bringing a solution to an existing customer problem. While pitching, stress on the problem your service or product is aiming to solve for the customer. You might have heard this repeatedly “Adopt a customer centric approach”. By putting yourself in your customers’ shoes you can develop a better product and simultaneously increase revenue. This is obviously a key selling point to any investor.
Let’s assume that you own a ride-sharing startup. You can start your pitch by asking your investor audience “Do you remember the time when you were very late to work because you missed the bus, the subway was crowded, and you couldn’t get a free taxi?”. By asking a direct question to the audience you get them to visualize the situation and better relate to it.
Starting your pitch this way will not only show the investors the value you are creating, but it will also capture their attention carefully.
Show product samples
Don’t forget to bring product prototypes along with you when you are a meeting potential investor! During your presentation, you might want to blabber about how great the product is and how it is going to become the next big thing in the market, but showing your product in real life will truly differentiate your pitch from others’ and be the icing on the cake. Not only this will add to the surprise element but also, experienced investors can spot a gem of a product just by looking at it. Their investment decisions depend a lot on the quality of the product you are willing to get investment for. Pitching with your product or prototypes will bring a sense transparency and trustworthiness to the audience.
Successful elevator pitches involve lots of storytelling such as intimate anecdotes and many entrepreneurs confuse these with improvisation. The reality is much different – overlooking the hard work that goes behind a pitch is a serious mistake. The way you pitch is a reflection of your business and how you operate it, it is therefore necessary for you to organize it efficiently.
There is no right recipe when it comes to how your pitch should be structured. It should at least include: a brief introduction of the business, the problem your business is solving, your target customers, historical business data and results, future prospects of the market and how the new investment is going to be used to increase profit. These elements make up for the basic components of your pitch plan.
Now, if you want to take your pitch to the next level, feel free to add crispy stories or exclusive data to blow the audience’s mind. The main takeaway is to follow a consistent flow and logic during your pitch in order to not only keep investors entertained but also ready to invest in your business.
Show numbers with visuals
You surely know by now that you will have to show at some point during the presentation your business’s results. This includes total revenue, profit margin, product cost per unit, retail price per unit, quarterly and annual growth, growth forecasts etc. Making sure that your pitch covers all the nitty gritty about your business performance will surely impress investors. But it’s not enough: another tip to pitch remarkably would be showcase numbers in a more visual light. How about using animated graphs, charts, and other statistical figures to add more flavor to the presentation? The idea is not to clutter your presentation deck with too much motion or colors, but to focus the audience’s eye to one key information, such as your forecasted number of signed up users.
Last but not the least, you have to make the investors like you personally. Investors want to fund someone whom they can rely on, and it depends a lot on the first impression that you create. Dress well when you are going to pitch your business. Suit up and look professional so that the investors take you seriously. You can even use a touch of humor to create a more relaxed and enjoyable experience.
Research on the background of the investors so that you know what their specialties are and surprise them by telling them how well you know about their success stories. All these will help in presenting you as a more trustworthy person.
You are now ready to give the best pitch of your life! And if you are not yet ready to speak up in front of a large audience and cameras, we’ve created the platform just for you. You can apply for funding on MAGNiTT anytime. Browse through the most coveted VCs in the region and send them your application from the comfort of your home.