Successful Ways To Pitch As A Small Business
As a business, you may at times come across the scenario when you need to look for people to invest in your business. Whether it’s for your startup or it’s for growth because you’re proving yourself successful on the market sometimes investors are a must and this means perfecting a pitch that going to be attractive and informative. Getting that pitch right can be the difference between an investor running for the hills or heavily investing to get you where you want to be. Have a look below at some of the ways you can help your pitch to be successful.
It’s always best, to be honest with everything in life including your business story. You should always be opening your pitch by telling your real story and make sure you address the solution your product or services provide to the marketplace. You may presume that investor knows all the ins and outs of how a business runs and already be familiar with the terminology however this isn’t always the case. It’s best to avoid using ‘business talk’ when you tell your story and instead use real names and the challenges that you are facing. Make sure you’re keeping it simple and realistic, there’s no point in making exaggerations. It’s a good idea to have a few compelling customer stories to share as these are what will be remembered after any pitch.
Don’t Cram Everything In
Yes, you want to deliver as much vital information as possible in a pitch but what you don’t want to do is come across anxious, nervous or tense. If you are trying to share all the information about your business all at once then this may well be how you come across to potential investors and it will surely put them off. Not everything needs to be addressed straight away, it’s acceptable to explain the key points and factors and then if there is an interest more information can be shared at a later date. Been relaxed when giving a pitch is the best thing you can do, it shows confidence in your business, service, and products.
Explain Your Business Model Clearly
It’s no secret that any potential investor is going to want to know where your business has come from and where you see them heading in the future. This is going to include sharing your accounts from the past and proving a growth for the future. By having a solid business model, you are able to tell any potential investors how your idea will or already does convert into profit or been viable economically. You should be including things such as what you sell, who buys it, how much they spend and how they pay you. Then you should be able to show how much of a return of investment would be expected and in what time frame.
Have A Clear Presentation
You should be aiming to have your presentation clearly explain your business to anyone and everyone. If you have a presentation to enables people who don’t understand your business to grasp what you are communicating, then chances are you’re pitch ready and good to go. If people get lost, then maybe you should seek some feedback on how to improve it to become more easily understood. Try keeping it short and sweet, and straight to the point, there really is no need to fill it with jargon and tonnes of business phrases. A great thing you can do it use easy to customize presentation software to ensure your presentation is looking and running at its best possible standard. Have a go at practicing your pitch on someone from outside the business and see if they can give you back the details you want to get across, don’t be afraid of asking for feedback and ask questions.
Don’t Forget About You
Yes, the aim is to get investors to invest in your business however investors tend to invest in people before they invest in a business. People get a reputation and if they have other success stories or are able to convince someone that they are worthwhile then they tend to be favored over an idea. This means that you should be putting modesty to one side and shouting about yourself. Give yourself praise and highlight what good about you and why investors should invest in your as well as your company. Along with this, you can talk about your team and how they have an impact on your business. Show the investors why you and your team are the right people to invest in.
Share Your Accomplishments
At any pitch one of the best things you can talk about what you and your business have been doing and share the successes that you have had right from the start. This isn’t something to hide, you should be proud to be letting the potential invests know what impact you and your team have had on your business and how it has led you to success. Believe it or not but investors actually do want to know about your first customers, other investors, your marketing and how it’s working for you, documentation, milestones for products, services and customers, key recruitment and several others. As the owner of the business you are already seen as the top salesperson so this is your time to show the investors how YOU sell your own business.
It’s not a good idea for any business to shout out that they have no competitors even if you’re the leading brand there is going to be some sort of competition out there so don’t hide it. Instead, you should be shouting about how you counteract your competitors. It’s a good idea to share your facts and figures when it comes to your competitors and give your investors peace of mind that they are in safe hands. You don’t want them left thinking that they would have been better off investing their time into a different business.
Do you have any other ways you can pitch successfully as a small business? Please share them in the comments section below.