How do you deliver a successful pitch?
You will learn
- How to make your pitch stand out
- The importance of a creative pitch
- How to react to difficult questions
If you’re interested in funding for your business, it’s likely you’ll need to deliver a successful pitch. This is a chance to verbally sell your business plan and generate interest in your products or services. A successful pitch could lead to a valuable partnership for your business and funding to grow, whether that’s through a new market, product development or even an increase of productivity through automation. There are lots of benefits to a pitch, and you shouldn’t be intimidated by the prospect.
It can be nerve-wrecking doing a speech in any circumstance, but even more so when your plans depend upon attracting funding as a result of the pitch. By following our top tips, you’ll be in a better position of delivering a successful pitch:
1. Preparation is everything
It might sound obvious, but if you practice what you’re going to say, you’ll come across as more professional and knowledgeable. You don’t want to trip over any facts about your business, as you should be the expert on it. Also, think about any potential questions you might be asked and how you’d respond. There’s nothing more daunting then being asked a difficult questions and your mind goes blank.
2. However, don’t be afraid if you don’t have the answer
When you’re put on the spot, you can’t always be expected to know everything. But, how you respond to this will make a lasting impression on the investors. Instead of stumbling through an answer, keep calm and tell them you’ll do the research and would be more than happy to report back to them your findings.
3. Don’t go on the defensive
When the investors are asking questions, it’s not because they purposefully want to make you uncomfortable. They’re genuinely interested in your business, and they need to feel confident in your plans as they could be making some big investments.
4. You should research your investors
If you know who will be in your meeting, try to find out as much about their background and expectations so that you can plan your pitch accordingly. Google and LinkedIn are a good place to get started.
5. Practice in front of people and listen to their feedback
You might not have picked up on any faults as you’re too close to the project, so it can help to get an outsider’s perspective on where improvements could be made.
6. You have a limited amount of time, so make sure your pitch is engaging and creative
A simple list of facts on a PowerPoint will lose people’s interest quickly. You should try to build an emotional connection with your audience and tell them a story.
7. Don’t be afraid to be different with your pitch and be interactive
If it’s possible, you should bring an example of your products and demonstrate the value that they bring.
8. A slideshow can still be useful, but keep it more visual than text-heavy
No one wants to sit and read an essay. You should choose images and short phrases that compliment what you’re discussing. If necessary, you can bring hand-outs that the investors can refer to at a later date.
9. Use your business plan to compliment your pitch
If you’re unsure about business plans then check out this article first. But, if you have one, you should have clearly outlined the strategy of your business, what gaps your business is filling in the market and how it compares to competitors, and financial forecasting. All of this information will be useful in your pitch.
10. Make sure that you’re still concise and straight to the point
You don’t have all day to do a song and dance about your business, so only includes what’s really necessary.
11. Promote any successes that your business has already faced
If you've already succeeded, let it be known! Back this up with evidence, e.g. how have your sales performed? You can also mention future predictions of success, but be realistic.
How you deliver a successful pitch may differ depending on your audience, but if you follow our guidance, then you may be in a better position to attract investment.