Making a compelling first-time pitch to an investor
Are you an early-stage #founder pitching to investors for the first time? Here are some tips:
The Dos:
1) Tell a Compelling story: You need to grab the investor’s attention in the first 60-90 seconds. Make sure you have a good elevator pitch to keep them wanting to hear more. Practice this pitch in front of your friends and family or even in front of a mirror. Listed to yourself – are you convinced? ?
2) Be Passionate: Investors want to know that the founder they are investing in is passionate about what they are doing and will do what it takes. Your attitude and confidence must come across when you talk about the problem you are solving and the value you are bringing your customers.
3) Back your pitch with data: Facts say it all. Adding real numbers to your pitch instills confidence. This could be your market size, target customers, their habits, competitors, etc.
4) Know your investors: There is no one-size-fits-all pitch for all investors. Know who you are pitching to, their #investment thesis, the types of founders they have invested in, and why you would add value to their portfolio.
5) Be thorough: Anticipate questions and be prepared with answers. Do your research. Know the risks and what you bring as a USP compared to your #competitors. It’s not only about doing something new. It’s also about doing something similar to what’s out there but better, faster, and cheaper.
6) Be clear about what you will do with the money you are asking for: Be precise about why you need the money at this point and how it is necessary to take your #business to the next level. Have an answer for what you would do if you got half the money, you are asking for. What’s your backup?
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The Don’ts:
1) Lying or making up information: Do not assume you are the smartest person there. If you don’t know an answer, admit it and say how you will get the answer. Never make up data.?
2) Ignoring Competitors: Never ignore or undermine your competitors. Knowing your competitors will help you explain how your product is different from theirs and also understand the challenges. Someone may have tried what you are doing and failed. Know why.
3) Adding unnecessary Jargon: Don’t use too many acronyms of unnecessary jargon. It may not always make you look smarter. You should be able to explain your solution in simple terms. If you use Jargon, make sure it is relevant to your solution or to demonstrate proficiency without making the listener feel foolish. ?
Follow these simple steps and be ready for that perfect pitch.
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