What are the ingredients of an ultra-compelling, irresistible, outstanding, and unforgettable pitch?
#1 Find the Right Investor
For a lot of founders, a pitch starts the moment you shake hands with an investor and begin your 15-slide pitch deck presentation. But the truth is: you can win or lose an investment long before you even walk through the door. The outcome is often decided when you pick an investor.
#2 Prepare Your Pitch Deck
Creating a phenomenal pitch deck takes more than just slapping this information on a PowerPoint with a few colorful graphics, financial charts and bullet points, though. It demands strategic planning, thoughtful word choice, and purposeful design.
But done properly, your pitch deck can act as a great visual complement to your presentation—helping the investor visualize your market data, understand your business model, and engage in your pitch.
“Chase the vision, not the money; the money will end up following you.” …
Tony Hsieh, Zappos CEO
#3 Tell Your Story
The point of a pitch is to inspire and excite, not put people to sleep. But that can be difficult to do when so much of a pitch focuses on numerical data, trends, and forecasting. That’s why it’s important to periodically step away from the data and focus on the bigger story you’re trying to tell. Think about your journey. What problems inspired you to create your business in the first place? What successes have you had since then? What setbacks have defined or changed your company? Most importantly: where are you headed now?
#4 Nail Down the Details
Arguably, the most important thing you can do in a pitch meeting is to talk about your business model, your team, your financials, and your future projections. After all, investors don’t just hand out money for big ideas. They want to know that there is a viable plan in place to make money. So naturally, you should let the data underpin your pitch. It should be openly shared throughout your presentation and visually represented in your pitch deck. It should be referenced during Q&A sessions and discussed in future conversations with the investor.
#5 Be Specific with Your Investment Needs
One mistake founders often make is being vague when it’s time to talk money. Without question, it can be intimidating to ask for a specific amount of money, because there’s always a chance that the investment could come up short. But it’s important to be confident and specific with your request. Not only do investors want to know exactly what their investment will look like, but they also want to see that you’ve thought through your financial needs. At the same time, it’s important to show them where you anticipate to be after spending their money—as this builds trust. While this level of specificity may not guarantee funding, it will ease concerns and instill greater confidence in your business model and strategy—which can lead to greater fundraising success.
#6 Prepare for a Q&A
Last, but not least, prepare for a Q&A. Your investors will have questions no matter how flawless your pitch is. Anticipating those questions and having clear answers will not only increase your credibility but will also give you a chance to address concerns before you leave the boardroom.