Pitch Perfect: How to Pitch Your Next Big Idea
When you’re an entrepreneur, you’ve got to do three things: be a fantastic leader with many hats, be able to step back (delegate) and grow others, and be a salesperson…. that’s all. The first two are probably self-explanatory, but you might be curious about the last point. Why do you need to be a good salesperson? Well, unless you’re the heir to an immense fortune that you can use for capital, you’ll definitely need to get the interest of investors. And you’ll need to learn the art of the pitch in order to sell investors on your big idea. Here are a few tips on pitching.
Tell Your Story
As previously mentioned, you need to get investors interested. You need to sell them on your idea. And one of the best ways to be a good salesperson is to be a good storyteller. And what better way to engage your investors than with an explanation as to how you got your idea. After all, the reason you’re even pitching your idea is to help solve a problem that someone must be having, right? That’s how some of the most renowned products and companies come into existence. Explain the problem. Investors need to understand not just what they’re putting money into, but why they’re putting money into it. If you can tie your idea’s origin story into an explanation as to why people will want to use your product or service, then you’ll have a better chance at catching an investor’s eye.
Take Feedback Seriously..And Refine
Don’t let your hubris get in the way of your success. Yes, you might have a great product/service/idea and know that the world needs it, but you need to explain that to the world. If investors tell you that they aren’t interested because they don’t understand what you’re selling, don’t get upset; ask them what it is they don’t understand, take that feedback and make your next pitch even better. Make sure that the following pitch paints your idea as clearly as possible, so that investors will be as motivated as you are to see it succeed.
Show, Don’t Tell
There’s an old adage in the world of cinema that goes, “show, don’t tell.” It’s very simple; there’s not subliminal messaging behind it. If you have a message or point to get across, don’t talk about it, show it. It works for film and television and it works for business. When you’re pitching to investors, 15 slides chock full of text are not going to get the room overflowing with excitement. They need to see something interesting. Whether it’s meant to make them understand the problem you’re trying to resolve, or the actual product/service itself, visuals are one of the most crucial aspects to your pitch deck.
Pitching isn’t exactly easy. It comes naturally to some, while others struggle with it. But it can be learned, and if you use some of these tips, you’ll have investors begging you to take their money.