Pitch Perfect – 6 Tips for Nailing Your Startup Pitch
Pitching your startup to potential investors can be a scary experience. The entire future of your company hangs in the balance, and getting things right is of utmost importance. So, how do you ensure that you absolutely nail your pitch? Follow these six tips:
Leave Your Mark
The first thing you’re going to want to do is find a way to leave a lasting impression on potential investors well after your pitch has concluded. Out of sight really does mean out of mind, but if you can leave your mark on the room, you’re far more likely to receive funding.
In some industries, you may wish to do this via a grand demonstration (or by providing tasty treats if you’re in the snack business), the value of custom corporate gifts should never be underestimated. They’re universally beneficial, so as long as you select relevant and useful items, you can’t go wrong.
Know Your Market
You know your product or service is good, but if investors can’t see the possible financial return, it’s unlikely that they will choose to fund your venture. While it is obviously important to showcase the features and benefits of your offering, it is equally important to be able to clearly communicate where you will be positioned in the market. This includes having a solid understanding of your target demographic and competition, as well as being across information such as standard price points, market gaps, and general consumer sentiment.
Research Your Potential Investors
Potential investors want to know about what you can offer them specifically, so researching the people that you’re pitching to is key. For the purpose of your pitch, consider your potential investors to be your target demographic. In other words, the more you know about their situation, pain points, and desires, the better value you can showcase and the higher your chances of closing a deal.
Read the Room
No matter how well prepared for your pitch you are, there is no guarantee that potential investors will respond the way that you are anticipating. This is why it is always important to have a backup plan for how you will present your startup. From here, you’ll be able to read the room and switch up your tactics if you don’t appear to be on track to achieving the desired results.
Showcase Your Talents
As important as it is to show the value of your startup, it is just as vital to present your own talents. No matter how good your idea is, your potential investors won’t feel comfortable putting money behind your startup if they can’t also see the value in you.
If you excel at a certain area of business, now is the time to showcase that. Great at marketing? Bring a sample plan with you. Super confident making sales? Bring a sales script. Perhaps you’re great at accounting? Create a detailed report on current financials alongside projections. You get the idea.
Provide Extra Value
Finally, it is important to highlight how your startup can benefit others as well as yourself and your investors. Everyone loves supporting things that do good for the world (and in turn, allow them to showcase the social value of their portfolios). So, if you’re involved in any positive initiatives or practice social procurement, now is the time to break out that info and add it into your pitch.
Now that you’re armed with our top six tips for nailing your startup pitch, all that’s left to do is get it together and get pitching. Good luck!
