Your sales pitch matters a lot when it comes to getting or losing business. Out of 1,000 pitches an investor hears, only 100 are actually funded by him. So, you have to be careful in giving your best pitch. Keep these tips in mind the next time you deliver a pitch.
Delivering an effective pitch:
- Keep it brief: It is believed that the less time your pitch takes the better. A pitch is more effective if you can put the best idea through in the most concise manner. If you are given X minutes, take 5 minutes lesser. And when you say ‘one last point’ then it should truly be the last important point.
- Tell an interesting story: The best way to draw the attention of the listeners is to lead them through a story. This makes a lasting impression of your pitch. Investors are not interested in numbers and spreadsheets but, they will definitely heed to your genuine story.
- Focus on the matter: Always remember that investors’ time is valuable. So, focus on the core concepts you want to highlight. There is no point wasting both of your time.
- Give an exact explanation: Through the pitch, give an exact picture of your product or service to the investors. Giving them your product to handle is even better. Explain in the least possible time and the best possible way without overdoing it. You may tell them what is unique about your product or service and who your target audience is. You can use psychographic and demographic features for this. It is also a good idea to explain what your strategy is to attract these customers to you.
- Explain your revenue model: Investors listen to your pitch and invest on your product or service expecting a return on that investment. So, they will be interested to know which type of revenue model you are sticking on to. You may tell them how you are planning to apply it to make money.
- Be enthusiastic: Experts say that while delivering pitch, you must come out of your comfort zone. Increase your energy level by at least 50 percent of what you actually feel. Your enthusiasm will definitely spread to the investors and urge them to look at the positives of what you are saying.
- Dress to impress: Haven’t you heard the saying first impression is the last impression? Many believe that you can judge a person by the way he or she dresses. It is a human tendency to fall for the rightly dressed person. So when you go to investors, dress to kill.
- Practice: Practice makes your pitch perfect. Even if you are confident of what to say, take pain to practice it over and over again to make sure you are thorough with what to say and what not to.
- Expect questions: At the end of the pitch, keep aside time for questions. If the investor is interested, he will ask a lot of questions and be prepared to answer those. You can give persuasive and skillful answers to the tough questions and this trait of yours will definitely impress them.
- Exit strategy: Even if the investors don’t ask this question, they will be interested to know how you can help them make money in five years. So, explain your exit strategy after the pitch is done.
The aim of your pitch should be to make the investors crave to invest in your company. Good news is that a powerful pitch can make this happen. When you deliver it the way investors want, your job is done.