[Editor’s note: This is a first in 3 part series of Pitching for Maximum Success. Next post in the series will be up coming friday]
As there are two sides in a coin, you need to think from an entrepreneurial angle being an entrepreneur and from the perspective of an investor. Startups quite often fail to think from an investor’s perspective. And the reason why majority of the startup pitches fail because the business idea is not convincing, lack of soft skills, lack of expertise in the team and does not meet investor’s portfolio needs.So, how does an entrepreneur go about creating a successful startup pitch?
Every idea pans out after pondering about the problems. Hence, it is imperative to explain the problem and how you are going to solve it by providing the best solution. It actually helps others to get a clear picture of how your product or service is going to solve that problem.
In the startup lifecycle, an entrepreneur has to pitch to different people from investors to potential customers. Each pitch is different. Your content speaks more than how you deliver it to the people. For a successful pitch, your product needs to be good, has to fill a niche and address a problem.
It is time to get an insight on how to pitch to the investors!
Every idea is unique. However, finding about your competitors will help you to understand why your product or service is unique. Project the most interesting facts about your business venture and huge milestones. Not all investors are the same. Do a background study on the investors like their industries, prior investments, reputation, preferences, etc. The more you are prepared the better you can handle any situation with confidence.
Prepare yourself in answering these questions before meeting your investors.
Remember, investors are also humans like you and their analytical minds may change anytime because most of the time they think about the exit.
The investors are always flooded with questions on their minds and it is critical how efficiently and quickly you answer them. Then the chances are more that your ideas will likely seal the deal.
For example, the best pitch should cover the essential elements
The secret is that the human mind is capable of remembering the stories most of the times than the data. The wise choice is to use storytelling concept to make your pitch really memorable and successful.
Ever pitched to Investors for fund raising? Tell us your experiences in the comments.
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