Data is a powerful tool for convincing investors to support your business idea, but only if you can present it in a way that is engaging and informative. How can you do that? Here are some tips to help you craft a data presentation that will impress your audience and communicate your value proposition.
Before you design your data presentation, you need to know who you are talking to and what they care about. Investors are not a homogenous group; they have different backgrounds, interests, goals, and expectations. Research your potential investors and find out what kind of data they are looking for, how they prefer to consume it, and what questions they might have. This will help you tailor your presentation to their needs and avoid irrelevant or confusing information.
Data can be presented in many ways, such as charts, graphs, tables, maps, infographics, or dashboards. Each format has its own advantages and disadvantages, depending on the type, amount, and complexity of the data you want to show. Choose the format that best suits your data and your message, and make sure it is clear, accurate, and consistent. Avoid clutter, jargon, and unnecessary details that might distract or confuse your audience. Use colors, labels, legends, and titles to enhance the readability and aesthetics of your data presentation.
Data alone is not enough to persuade investors; you need to tell a story that connects the data to your business idea, your market opportunity, your competitive edge, and your growth potential. A story helps you create a narrative arc that guides your audience through your data presentation, highlights the key points, and shows the impact and value of your solution. A story also helps you engage your audience emotionally, by showing them how your data relates to their problems, goals, or interests. Use words, images, and sounds to create a compelling and memorable story that showcases your data and your vision.
Racontez une histoire... c'est le principe du pitch. Faites rêver votre interlocuteur. Le pitch deck est un exercice très codifié. Il faut à la fois savoir en respecter les principes et faire rêver l'investisseur. Ce qui le fera rêver, c'est votre cause, votre mission... et les chiffres ! Et le lien que vous ferez entre les deux.
Proven example here: Think of Shark Tank and who gets the deal and who doesn't. Yes, the financial numbers need to make sense. When you can add in the inventors personal story highlighting why they invented the product and how passionate they are about it, it absolutely increases the likely hood that a shark will make an offer to the inventor. The Sharks want to feel their passion and commitment to the product and a personal story that emotionally connects is the best way to do that.
No matter how good your data presentation is, it won't matter if you don't deliver it well. You need to practice and prepare for your presentation, so that you can speak confidently, clearly, and convincingly. Practice your presentation several times, preferably in front of a friendly audience or a camera, and get feedback on your content, style, and timing. Prepare for possible questions or objections from your investors, and have answers and evidence ready. Also, prepare for technical issues or glitches that might affect your presentation, and have a backup plan in case something goes wrong.
A data presentation is not a one-way communication; it is an opportunity to interact with your investors and build a relationship with them. During your presentation, invite questions, comments, and feedback from your audience, and respond to them respectfully and professionally. Show that you are interested in their opinions and perspectives, and that you are open to suggestions and improvements. After your presentation, follow up with your investors and thank them for their time and attention. Provide them with additional information or resources that might help them make a decision, and keep them updated on your progress and achievements.
A key thing to remember is that it is never about the data. It is all about the audience and what you want/need them to feel. It could be the safety of the investment, the probability of sales growth, or some other key feeling they need. So what is the best way to get that feeling across? If data supports it, what is the key data? It is imperative to get out of YOUR perspective on what is important and see it from THEIR position. Do what it takes to support THAT!
Most pitches include a business plan. It's passe. We know that markets are volatile and unstable. It's better to use your bottom-line data as part of a go-to-market strategy than anything that resembles a five-year plan. Who knows where things will be in six months?