“NOBODY INVESTS IN A SINKING SHIP.”
It is true, especially with startups.
Similarly, if the success of your start-up depends on one pitch approval, then you are unlikely to get much help from investors as well.
Investors look into the company’s idea, business policies, turnover, potential, and risks before investing in it.
Because of this, only 100 out of 1000 start-ups get funding.
According to a source, “The enterprise department of Ireland invested over €48 million in Irish startups in the year 2020 and supported 125 new startups.”
Business owners search for “where to get a loan in Ireland with bad credit?”.
As in the early stage, capitalizing on a business is a challenging concern. Thus, the business idea approval becomes the only goal.
Thus, how can a startup get its idea funded with an excellent pitch delivery?
However, the odds are not great. You can still make it through 100 by crafting a pitch that turns heads.
A winning sales pitch entails some crucial elements:
What makes a business pitch compelling, irresistible, and unforgettable? Keep reading!
10 tips for delivering a winning pitch
1) Convert your pitch into a compelling story
As per marketing rules– “people buy stories and justify it with logic.”
Instead of resorting to traditional presentations and swiping the workbooks, convert your pitch into a story and support it with proofs and examples.
Investors don’t invest in the figures or goals but in your “WHY”
What is your “why”?
WHY–why did you start the business in the first place? What motivated you?
Tell the story with a proper beginning, mid, and conclusion, and support it with proof and examples. You will surely get through!!
2) Amplify your benefits over your competitors
Analyzing competitors and speaking about their best parts encourage healthy interaction. An investor expects you to have complete knowledge of your competitor and wants to know where you fit the mark.
As in “how do you “differ” from competitors in your approach to business?”
One thing to note here is, what increases your chances of getting chosen over your competitor is–USP.
It is a unique idea or a benefit behind the concept you sell. Your idea should sell standalone.
Do a SWOT analysis of your competitors before landing up before the investors and explain why you share the potential to have a shot at their customers.
3) Develop a short and crisp pitch
Well, how good your points and presentation are, investors are busy.
The lengthier your business presentation is,
The quicker an investor loses focus.
A good pitch doesn’t exceed a 10-minute time frame.
If you are thinking, “is it even possible to give an interesting and outstanding sales pitch within 10 minutes?”
Include the most important elements in your pitch and cut the rest.
4) Drop your References in the pitch
Investors are keen to understand your business idea and who all are involved in it.
So, drop all your references, the team member names, customers, and business partners. Mentioning every single individual involved in your food business ideas generates credibility and gives you an edge over others in the lane.
Note: Don’t cook up names. It can be a blunder.
5) Plan questions and answers before
Business pitch representation means- interaction. So, don’t be surprised if an investor throws a question out of the lane. Be prepared in advance to answer prompts. Be smart, don’t stand dumb, but answer almost instantly. It is important, especially if you have a slide that discusses the issue to present later.
The way you answer is more important than the pitch presentation because it helps the investor know your potential for managing pressure and countering risks immediately.
6) Target potential investors
Securing funds is not just about a strong pitch and idea but also about who you choose to discuss your project with.
Before reaching out to an investor, know him inside-out.
Understand why he will be the best choice for you.
Choosing the right investor is equally important to avoid any regrets down the lane if it doesn’t turn out as expected.
“NOT EVERY INVESTOR ENSURE VALUE”
7) Grant them a peep into your personality
Don’t go with the sole aim of securing funds for your business; grant them the opportunity to explore beyond the product and the idea.
Yes, investors invest in a potential product or a futuristic idea, but they first invest in individuals.
They analyze you as a person behind the ideas. They primarily analyze:
- “Can you deliver on time?”
- “Do you have the potential to see beyond the fence?”
- “Can you and your policies be trusted?”
They have every right to know you. Regardless of the stats or the limited achievements you share as an early-stage company, they analyze whether you have that energy and the motivation to scale as a successful entrepreneur?
The whole idea behind an interesting business pitch- is to “generate a belief.”
Continually strive for excellence and maintain consistency in the business framework.
8) Create a visually-interesting pitch
A business pitch should be “visually arresting.”
Visually arresting means it should be attractive with examples, statistics, and estimates.
Steve Jobs is not just known as a visionary, but for his captivating visuals as well. He used to keep his slides clutter-free and concise. “
Business pitches are not just about the text; but about how well you integrate text with visuals to communicate your message.
For grabbing the attention of the investor, the pitch has to be-
Investors and venture capitalists turn down nearly 100 pitches every day as they lack some or other things.
You don’t want to be the one among those 100. Check out and revise every single element in your pitch. It should align well with your and the investor’s point of view. Seeking private money lenders in Ireland to capitalize on your business at an early stage can be beneficial and improve your chances of getting chosen.
So, these are some tips that you can implement to create an arresting business pitch and impress the investor.