Getting a business off the ground isn't easy. It requires passion, a clear vision, and, most importantly, resources. To attract investors, you need a compelling pitch. These eight tips will help you craft and deliver a quality pitch to potential investors.
Getting a business off the ground isn't an easy thing. It takes passion, determination and a clear vision of what you want to achieve. And perhaps the most important element of all – it requires resources. Funding is a vital part of building a product or a service, no matter how big or how small your business is. Securing funding isn't an easy thing in itself.
Just to give you some perspective, here is a general rule of thumb about most investors: Out of 1,000 business pitches an investor hears, only 100 startups will be invested in. And out of those 100, only 10 will go big and actually render a profit. So, realistically speaking, the odds of making it are quite slim. But that's no reason to give up.
Having a compelling pitch that will turn heads is key to success. Of course, getting your point across to investors in 10 minutes is no easy thing; however, if you get it right, you can help your business get off the ground.
Below are eight tips to help you deliver a convincing pitch to potential investors:
- Your pitch should describe why your business idea is a viable opportunity for the investor. It should be clear, outstanding and unforgettable.
- Allow enough time in your presentation for the investor to assess the risk and return of your idea. Being asked questions during your pitch is fantastic; it shows interest from the investor and allows you to have a conversation-oriented pitch rather than a monologue.
- Although it might be tempting to cover as many details as possible, keep your pitch brief and clear. This allows time for questions.
- If you are delivering your pitch using PowerPoint, use as few slides as possible.
- Make sure your pitch addresses where the business will be over the years and how it will benefit investors.
- Having a passionate and enthusiastic attitude is key. It shows that you're deeply involved in the development of your business and that its well-being is a priority to you.
- Listen to others' experiences and glean as many tips as you can from them. Reading others' success stories can help as well.
- Consider hiring a professional coach who can help you polish and deliver a stellar pitch. There are also workshops or courses that can help you create an unforgettable visual story for potential investors.