Whether you’re starting or expanding your business, there will probably come
a time when you need to find investors or secure loans. In order to do that,
you’ll need to perfect your pitch. Before someone invests or loans money to
your business, they need to know the important facts about your business.
Your pitch not only showcases your business idea but also your financial
numbers and goals. To help you put your best foot forward, we put together
some things to remember when perfecting your pitch.
It’s important to include vital information about your business, but you
need to really boil your presentation down to the essentials. You don’t want
to lose your audience, so try to keep your pitch anywhere between 1 to 10
minutes long, depending upon the event. In order to keep your presentation
within a reasonable timeframe while also making it informative, practice,
practice, practice. It also pays to make versions of your pitch in a couple
different lengths to be ready for any situation.
The perfect pitch is delivered specifically for the person or persons you’re
presenting it to. Researching and knowing your audience will help you make
decisions about content and length. You can’t always know everything about
your audience, but it’s always good to do your homework and have at least a
basic idea about the person you’re presenting to.
Investors may want to see your entire business plan if they’re interested in
investing. Your pitch is meant to spark interest in that plan. It can be
useful to have your whole plan with you during your presentation, but, more
than likely, at this point investors will want to view something shorter.
Put together a one-page summary of your concept. At the pitch stage, it’s
best to keep things short and interesting.
You need to know your business inside and out. Know your market, your goals
and available solutions to potential problems. You need investors to
understand that you know what you’re talking about, so it’s vital to be
prepared, but it’s also important not to be a know-it-all. Be prepared for
investors to ask you questions, and be open to their advice.
Whatever you do, be memorable. Spice up your presentation and be excited.
Let your audience feel your excitement and see that you believe in what
you’re pitching. Remember you are asking these people to put money into your
dream. The purpose of your pitch is getting them to believe in it, too.