Luring investors with the perfect business pitch
Consider pitching as a fishing activity. The fishing hook is your pitch presentation and the bait, your business plan. In order to attract the fish, your bait must be as per their needs. The same goes for your pitch- what you present must match with what the investors want. Simply put, your investors will look for three things before they zero down on you: your company profile, progress, and potential. As straightforward as the approach is, it is equally challenging to execute. To make it a success, you need to chalk out a systematic framework before you begin graphing out your company’s economy on the whiteboard.
The most crucial skill set that you will require for this task is the ability to sell your ideas to the client. Most entrepreneurs fail at the ‘how’ aspect of it. Here lies the crux of the entire presentation- how well can you set your vision?
Begin by studying your company throughly-get acquainted with everything, right from its broad functionality to its hidden intricacies. In other words, it is important that you know your company well before you represent it before others. This should help you come up with a sound business plan. Consider the following aspects during the preparation: purpose, target, offers, strategies, trade practices, operational processes, and finally, unique proposition. Your business model should be able to link all aspects of your company, whether it is the technical or the economical side. More importantly, it needs to be presented in a way such that the investors grasp the one thing they are truly looking for- value generation. Nothing can be more important to them than their investment returns.
Arriving at the most important question- how much technical do you need to get? The key is to pitch in the most comprehensible manner. This does not mean you dilute the essence of your unique proposition; all you need to figure out is how to go concise with it. One of the best and the most commonly approved approaches is the elevator pitch. It has proved to be an effective strategy. Elevator pitch le concept is as literal as the term is- putting across your idea within a brief span of 30 seconds to a minute or two, as though the elevator is your only selling space. The challenge is to compress your proposal to the basic understanding of the investor with the idea of undercutting time and unnecessary discussion. This is where you can hit the bulls-eye: your idea needs to appear strong enough to grab eyeballs. Add your creative touch to it so that they grab all that is essential for both the parties. Chip in a narrative or a brief story to make your presentation more appealing.
A supplementary but the most crucial task is to create a backup plan. Nobody, not even divinity can guarantee your success, no matter how well prepared you are. Unforeseen circumstances must be taken into consideration, even before you sit down with your intended pitch. Most of all practice as much as you can. A well-rehearsed to-the-point presentation is what you should aim at; however, try not sounding robotic while you are at it.
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Joubert is the author of this article on Business model
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Submitted on: 2014-08-03 22:54:57