Your pitch is the single thing that could either get your business off the ground or plunge your idea into eternal oblivion. It matters. For every 1,000 pitches an investor hears, he or she will fund only 100 of them. What are the ingredients of an ultra-compelling, irresistible, outstanding, and unforgettable pitch?
1. Your Business Pitch Should Not Last Longer Than 10 Minutes
Timing is critical. The less time your pitch takes, the better. A brilliant idea means nothing unless you can distill it to a few moments of sheer power. The more concise you can be, the more effective you will be.
2. Your Business Pitch Should Tell A Story
Begin your pitch with a compelling story. It should address the problem you’re solving in the marketplace. This will engage your audience right out of the gate. If you can relate your story to your audience, even better! Do some research about the investor, so you have a good sense of what they care about and can tailor your story to them.
3. Your Business Pitch Should Be Focused
Investors’ time is their most valuable asset. If you convey a respect for their time, they will interpret that respect as your ability to treat their funding with respect. Because time is important, you need to develop an absolute focus on the core components of your pitch. What are those core components?
4. Include Your Business Model In Your Business Pitch
Investors tend to care about this the most. How will you make money? Be very specific about your products and pricing and emphasize again how your market is anxiously awaiting your arrival. You can also use this opportunity to blow your own horn! Impress the investors with what you and your team have accomplished to date (sales, contracts, key hires, product launches, and so on).
5. Your Business Pitch Should Say What Is Unique About Your Product
If you are not producing or providing anything different from what is already in the market, don’t even go to the meeting. Go back to your drawing board, and design something better.
6. Deliver Your Business Pitch Enthusiastically
A good technique for increasing your energy level is to add about 50 percent more energy than you feel comfortable with. Entrepreneurs must crawl out of their comfort zone.
Wild enthusiasm will not obscure your sophistication, insight, integrity and realism. It will only enhance it.
7. Dress To Kill When Delivering Your Business Pitch
You can judge a person by the way he or she looks. That may be unfair, and you may resent it, but you’re not going to overcome this natural human tendency. The thousand bucks you spend on a new suit will pay for itself a thousand times over when you secure the funding you need.
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