Do you plan to start a business of your own? Have you thought over an innovative business idea which is worth nurturing? It’s time to woo your potential investors with a compelling business idea to convert it into a successful venture. The investors won’t just believe your words. The only way to engage them into your business idea is by showing them a demonstration. Show them how profitable your business idea is and how can they can achieve a good return on investment (ROI).
Every human being comes with a different mindset and intelligence. So, you must also understand that every idea needs polishing. Understanding about what works in the market is equally important to make your business a success and stay ahead of your competitors. Other than understanding the market and your target audience, you must also possess some basic characteristics into your personality. The right mix of all these qualities can bring you closer to becoming a great entrepreneur.
To get capital from the investors, you must prepare a compelling pitch in a way that it surpasses the other 1000 business ideas who are also in the pipeline. Your first three minutes of the pitch is very crucial as they decide the future of your startup. If you aren’t able to win over your potential investor in these 3-minutes, you surely need to try some other strategy. Your confidence and industry expertise are two basic parameters that determine the success or failure of your pitch.
So, with the cut-throat competition between all the business ideas, you can take help of these 5 effective strategies to maximize your chance of winning over investors when pitching your startup:
Startup Pitching: 5 Effective Strategies
A good pitch shares some basic characteristics that you must take into consideration. So, without wasting too much of your time let us start knowing about the most effective pitching strategies you can utilize to create a winning pitch:
Keep your Pitch-deck Simple
Before you go out to present your pitch, ensure your presentation isn’t full of too many complex words. Most entrepreneurs believe that including complex words will benefit them but its never the case. Rather, you must keep your presentation language simple, and easy enough for the investors to understand. Other than simplicity, you can also try making your pitch-deck visually appealing using tools like slidebean. However, in the process ensure it doesn’t get too long and includes all relevant pointers which you need to exhibit. Keep it concise, simple yet visually-appealing and straight to the point.
Your Story can Make a Big Difference
Storytelling is the future of digital presence. Don’t make your presentation just about spreadsheets or facts and figures, rather use it to convey the story behind your business. Most entrepreneurs unknowingly convert their pitch-deck into a sales pitch and desperately fail to grab the investors attention. So, If you really want to make a difference, prefer correlating your idea with your story.
Storytelling happens to be the best way to attract the audience. The investors love the inspiration behind the idea and no spreadsheet can ever cover it the way you can. All you need to do is frame your story in the right manner to engage with your target audience and the investors. Also, if your pitch-deck covers the problem, proposes the solution and understands the market percentage your solution can impact, you are already one step ahead of your competitors and to be perceived well by the investors.
Give a Practical Demonstration of your Product
If your business is product-centric, then simply your pitch-desk won’t make much of a difference. You must have a prototype of your product ready in case the investors wish to test it. The first-hand experience will definitely weigh more than just photographs or screenshots of the product.
Letting your audience try out the prototype beforehand will give your business an advantage. Basis of your customers’ feedback you can get the product redesigned and release the final product with minimal or zero flaws.
Radiate Confidence And Compassion
One important factor to make your business idea convert into a successful venture is to believe in the idea. Your personality and confident approach towards the idea will be well-appreciated by the investors as well. Saying ‘You are Passionate’ won’t be enough, it should radiate from your personality as well. Step out of your comfort zone and increase your energy levels.
Your enthusiasm and dedication will attract the investors and they will understand that you have the zeal to overcome any setback that your business encounters during the initial years of setting up. The way you present yourself also holds equal importance with a few investors. So, to establish your credibility in the eyes of the investors, suit up properly and secure the required capital your startup needs.
Give Your Startup Pitch-deck a Strong Closure
Your startup pitch is good only if it contains a proper brief at the end. Your pitch-deck must include a clear summary of why should the investors invest in your startup and how will it benefit them in the long run. You can also follow the 10/20/30 principle as suggested by Guy Kawasaki to make your presentation more effective and appealing to the investors.
Again, don’t forget that keeping your presentation short doesn’t mean that you have to miss out on the key aspects. Your presentation must bring all the elements of your pitch together.
Pitching a business idea is art. Your art of pitching will help investors decide whether they should invest in your company or not. So, to deliver a successful and compelling pitch, understand your investors properly.
Did I miss out something important?? Do you have any questions to ask about putting together a winning pitch deck??Share your views and questions in the comments section below.
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