Pitching an idea on which you have been working to investors is one the most important steps of entrepreneurship and fund raising. At the same time, if you’re not fully equipped with hard hitting data and impressive numbers then your bright idea might look dull to your prospective investors. A good business pitch is more than just passion for your vision.
It hardly matters whether you are raising capital for the first time or you’re someone looking for series A or venture capital. Getting yourself and business analysed from every angle for approximate 45 minutes requires a proper planning and homework. A good business pitch can be the first building block for a successful startup. Here we have compiled a few pointers which will help you design your pitch and present it in an apt manner.
Search for the right investor
Finding the right investor is important, you might be having a million dollar idea but if the idea does not resonate with the thoughts and views of the investor then they won’t be writing you that check. Research and dig deep about the investor you’re looking to reach out, everything starting from their career till date, their interests, their network, their availability, and their temperament.
Prepare your pitch
Assuming you’ve narrowed down to the right investor, now is your time to prepare a 15 to 20 slide pitch deck, detailing:
- The problem you want to solve
- Your proposed solution
- The ins and outs of your product or service
- Your target audience
- Your business strategy
- Your financials
- Your exit plan
- Your disaster plan
Creating a remarkable pitch deck requires more than just a colourful PowerPoint presentation filled with bullet points; it demands strategic planning, thoughtful word choice, and purposeful design. If executed in a proper manner, your pitch deck can serve as a great visual complement to your presentation—helping the investor visualize your market data, understand your business model, and engage in your pitch.
Let them know your story
The 45 minutes of the presentation is as crucial as letting them know your story. Speaking continuously about data and numbers won’t inspire people to look into the picture you’re trying to create here.
Sharing unique points on how it started and where you’re headed will pique the investor’s interest in your venture and help you keep them engaged in your presentation.
Pin down the details
Your business model, your team, your financials, and your future projections matter the most in your pitch. Investors don’t go tossing pennies merely for an idea. They want to know that there is a viable plan in place to make money.
The data which you want to present in your pitch deck should be visually understood. It should be referenced during Q&A sessions and discussed in future conversations with the investor. The clearer you are in presenting this data, higher are the chances of an investor deciding to partner with your venture and finance it.
Know your investment needs
Being ambiguous in your investment needs is one mistake which entrepreneurs often make. Asking for a specific amount of money can be intimidating since there’s always a chance that the investment could come up short.
It is important to be confident and specific with your request as investors always want to know what their investment will look like and whether or not you’ve thought properly of your financial needs. This helps in building trust with the investors.
Q&A Preparation
The last and most important step to in mind for a good business pitch is preparing for a Q&A session. However flawless a pitch is, investors will always have questions. Working on those questions which are most likely to pop up will make you better.
Asking yourself questions like, how well the details were presented that are important to understanding the viability of your business? Will they have questions about my product? You should have a list of pointers ready to address maximum of their concerns.
Eventually pitching to an investor is one of the most important steps to initiation of a successful startup. The secret lies in selecting the right investor, and then a proper preparation and then pitch effectively.
