An important part of being an entrepreneur is pitching or making the case for the product, project or idea you intend to sell. An elevator pitch should be concise, clear and interesting. If your elevator pitch is successful, a potential investor may request more information or offer to invest in your idea.
1. Keep your presentation simple
Using too much technical jargon can cause major problems when pitching. Make sure you can summarize your whole pitch in one sentence and have a clear structure for any slides so that it all flows like you’re telling a story. Keep it all concise and to the point, giving a strong outline of why your product or service is different while outlining the problems that it solves.
2. Route to market
You need to be able to explain your businesses route to market simply and how you are going to attract new customers. An overview of distribution agreements and your market acquisition strategy helps a potential investor understand how your excellent product is going to capture market share, and ultimately make money.
3. Avoid death by PowerPoint
In particular, avoid having too much text on your PowerPoint presentation as this will cause you to read in front of your investors. The purpose of a presentation is for an entrepreneur to demonstrate their knowledge, expertise and passion for their business, and in most instances investors are buying the entrepreneur not the investment! Try and be punchy, concise and to the point.
4. Be prepared for technology issues
Too often individuals are completely thrown if their presentation breaks down or their laptop stops working. Ensure that you have a printed copy of your presentation in front of you that you can read through if the technology fails.
This could be the big break for your business and your career. Securing an investor for many entrepreneurs is a defining moment, so just reading out materials will probably not be that inspiring. Rehearsing will allow you to know your content while simultaneously engaging with your audience.
How is your product or service going to make money? You need to be able to explain this in a simple and concise fashion. It’s important to be able to give a simple process of how and when your business will start to generate revenues, coupled with projections.
Pitching an investment opportunity is a big deal. Make sure that you take a few deep breaths before you commence your pitch. Investors recognize that this is a big deal and that you will be nervous, but don’t let that detract from your big opportunity!
8. Finish the deal
When you blow investors away with a phenomenal pitch, their next question will be related to your financials. . Working with an accountant is an important step to landing your investment and should not be undervalued. Having finalized financials lined up will validate your commitment to your company and help close the deal with an investor.
Last of all, good luck!