Remember this: the most successful startups are not the ones with the best products, but the ones that get people on their side and to believe in their products. And these people, the ones you need in your camp to see the possibilities in your tech solution, are Venture Capitalists (VC) and Angel Investors. However, to do this, you need a near-perfect pitch.
What is a Pitch?
A pitch is an organized presentation to share a business proposal with prospective investors. Entrepreneurs pitch for various reasons, and to different groups of individuals, however, it is done with the intent of getting people aboard a plan.
Here’s How To Make A Successful Pitch For Your Startup
Some say pitching is a game of numbers. So, you would have to get your numbers right and in the right place to make the buzzer buzz and rain confetti.
I wouldn’t call it a game, though. However, if you mean it, then you can do it right with these tips.
Stay Time Conscious
I hate to break it to you, your audience wants to hear about your solution, but they also have a lot of other things to do with their time. So go straight to it and nail it hard, just where it counts.
Tell an Empathic User Story
Whatever your solution, whatever your product or service, people are the target. To find a sweet spot with your VCs and Angel Investors in a pitch, tell an empathic story.
Telling an empathic story with real users, who have actual names, and practical problems that your product has or seem to be solving would positively portray your tech product in the best light.
Describe Your Business Model Clearly
A monumental difference between a startup and a small business lies in the business model. VCs are interested in startups or solutions that disrupt existing markets. So, even if your product is essential, it doesn’t negate the fact that you need a working business model to sell it to the target. Pitch it.
Ultimately, take that plan and show your prospective investors how it can become a fortune million startup.
Share your Product
That’s right! Please do, by all means. For a pitch, if there is anything else your investors would love to see, aside from the numbers and strategy, it is a working product. So you can demo your product if the nature of your solution allows. However, take a basic workable solution – A Minimum Viable Product (MVP) – for your pitch. Your investors would love to see where they would be investing – so MVP up, it’s not a recital.
Similarly, show some weakness (that’s fine), admit you have competition because you do. There’s never a business or startup without one. Additionally, meticulous research on your competitors and what they do shows how conscious you are in your market. Also, present that research during your pitch.
A little pull away from the conference room into the field, yes? A business that negates competition is probably built on ego and not a strategy. However, it would only plunge headlong into a messy pile of disappointment.
Pitch your Team
What is as good as a great idea is an excellent team executing it. People-investments are the best investments, and investors know that. So, go ahead and put yourself and your team out there. Also, let the investors recognize the potential in not just your product but in the partners too. A product may not pass a pitch, but the team could pass. While it’s not the intended outcome, it’s a win still.
As a founder, you should be passionate about your brain-child. Equally, let this passion and dedication show itself in your pitch. It is more than just what you say. So, connect your words with a string of charming enthusiasm. Your investors would have an apt sense of it.
Practice Your Pitch and Keep it Simple
Finally, I’d take my advice here and keep this pitch simple. Practice! Practice!! Do it a lot. Try with your teammates and with people who don’t have an idea what you are doing. Also, expect a lot of questions and be prepared to answer them. Keep your pitch smooth, tight, and precise.
Show some Finesse
While this not be considered to be a lot, it says a lot about you, your team, and your product. Stay adroit when delivering your pitch and finish it on a high note. Leave an opera-effect. So act in a way that makes you irresistible to your prospects.
Your startup is at its turning point and ready to take the next leap with a successful pitch that translates into investments. It is enough to get you worried, and that’s okay. But if you can stick to these tips for pitching it right, you would be fine. Until next time, stay smart.