Whether you are pitching for investments into a business idea or for clients to buy your products, there are factors to consider including:
- Do your homework
There is need for the client to get the feeling that you know what you are doing. This can only be achieved by good preparation. You have to know what you are going to say and how you are going to say it. Have practical examples of scenarios where your service or business idea has worked. For a business, you should be able to show how you are going to make money and exactly from whom. Talk about the competitive landscape and how you are going to address it.
Since you only get a single chance to impress, make sure you practice enough before you make a presentation. You can try the pitch on an outsider and hear what their feedback is. Make it short and straight to the point because lengthy explanations don’t impress investors or clients. Prioritize what you want to talk about and stick to those points.
For you to demonstrate knowledge about the problem and your excitement about the solution, you also need to relax. Clients and investors are trained to be good judges of character.
- Know your audience
Whether you are targeting clients or investors knowing who you are talking to makes a whole lot of difference. Carry out enough research and find out even what might excite them because these are their trigger points. Then tailor the pitch specifically for your target. Relating the target’s trigger points to your business will get their attention.
- Show passion
Even great ideas may not be easily or effectively implemented, therefore, exhibiting passion shows commitment and confidence in the idea. Tell a customer story of what your service or product does in the market.
- Show your team
Talk about yourself and why it is that you are the one with what it takes. Surround yourself with smart and credible people and emphasize on the kind of team you have. The team should be able to deliver even with changing market models. The company might not be old but an experienced group of employees with a proven track record inspires confidence. Investors not only fund a business concept but also a management team.
Show the successes the team has had since the company’s inception. Talk about the first clients that the company had, media placement and amount put into the business so far.
- Have a backup
It’s always good to be ready for unforeseen circumstances which may derail your efforts. You need to have a strategy in case things turn ugly. You can even have several versions of the pitch and refine it as you go along.
It’s important to show a grasp of reality especially for investors. There should be different outcome scenarios including a worst case scenario based on facts, performance data, competitor analysis and thought-out assumptions. For an investment pitch it’s a plan on how the investment would be recovered in case there was failure at a stage in the development.
Guest article written by: The author is the creative force behind nairobiTechie. He is happiest with a cup of tea on his side creating content and innovating. Contact him on [email protected]