3 tips to pitch your business to potential backers
Pitching a product or an idea is a difficult but necessary skill to master for budding entrepreneurs. Whether it’s just your family and friends or an intimidating group of venture capitalists, you should know our 3 tips to get you through your all too important startup pitch.
Tell your story
Although most pitches are brief, be sure to set aside time to explain your background and your product’s journey. By telling a story you can pique the interest of your investors, a story can help to make you likable, which is of course a must. Sharing your story helps the investors get to know what kind of person you are, your work ethic, and your motivations . It’s also beneficial to explain how you’ve develop the product or service over time. While still taking time into consideration, remember to be clear, honest, and most importantly engaging.
Include visual aids
Whether it’s a prototype or a presentation including visual aids is a must. When you’re pitching to investors they need to be able to visualize your idea, sometime simply talking won’t do it. Slides discussing the market, your solution, projections and backers are a few key points you should cover. Bring other visual aids like handouts, photos, summaries, and factsheets to further illustrate your point.
Learn the vocabulary
Learning the industry lingo is important to properly convey to your audience that you’re knowledgeable and prepared. First impressions are critical. What you say and how you say it in the first five or 10 minutes of your initial meeting will likely determine if investors would even bother to evaluate your company’s potential. Be sure to do your homework and learn the acronyms and terms associated with your field.
The key to a great pitch is to strike the perfect balance; be fiercely passionate but not too aggressive, be confident but not arrogant, but most importantly be yourself.