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Entrepreneurs: Tips On How To Deliver A Pitch Investors Can't Tu
rn Down
By: magbytes120 Date: June 10, 2017, 10:43 am
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Four Tips on How to Deliver a Pitch Investors Simply Can’t
Turn Down
Be laser-focused.
Many of you asked me this week to say a bit more about
“pitching,” including what the word really means. For an
entrepreneur, a “pitch” is what you say and present to
potential investors to market yourself, your idea and your
business concept — not just to inspire them to invest, but to
rush to be first in the queue!
Today though, in response to your requests, let me share the
first of three parts of an excellent article from Entrepreneur
magazine, written by Neil Patel, a young entrepreneur who gave
me permission to republish it (remember the importance of
intellectual property). It’s called: “13 Tips on How to
Deliver a Pitch Investors Simply Can’t Turn Down.” Today
I’ll share #1 thru #4.
It’s going to be decided by the PREPARATIONS you make in the
months and weeks leading up to that pitch.
In his article, Neil writes:
“Your pitch is the single thing that could either get your
business off the ground or plunge your idea into eternal
oblivion. It matters.
The rule of thumb for investors is that for every 100
investments they make, only 10 will go big.
Let me take that rule of thumb a step further. For every 1,000
pitches an investor hears, he or she will fund only 100 of them.
Statistically, the odds for success are not great. You can beat
the statistics, however, by crafting a pitch that turns heads
and gets funded.
What are the ingredients of an ultra-compelling, irresistible,
outstanding, and unforgettable pitch?
1. Take only ten minutes.
Timing is critical. The less time your pitch takes, the better.
A brilliant idea means nothing unless you can distill it to a
few moments of sheer power. The more concise you can be, the
more effective you will be. Here are a few timing pointers:
# If you say that you’ll take “only X minutes,” then take
at least one minute less.
# If you are told, “You only have X minutes to pitch,” then
take at least five minutes less.
# If you say, “One last thing” or something similar, then
make sure it’s truly the one last thing.
# Move at a good pace. Don’t rush at the end.
# If you’re using slides, don’t get stuck on one slide for
more than three minutes.
Here’s the great thing about taking ten minutes. If the
investors are really interested, they’ll ask questions. If
they’re not interested, then you will have saved them (and
yourself) some time.
2. Turn your pitch into a story.
Storytelling is a scientifically-proven way to capture a
listener’s attention and hold it. Besides, it makes your pitch
unforgettable.
Investors are bored with spreadsheets, valuations and numbers.
If they want that information, they can get it. What you can
offer that no term sheet can convey is the story and pathos
behind your startup. Everyone loves a good story, even the most
data-driven investor.
So, tell your story and tell it right. You’re bound to gain
attention, and the funding will follow.
3. Be laser-focused.
Investors’ time is their most valuable asset. If you convey a
respect for their time, they will interpret that respect as your
ability to treat their funding with respect.
Because time is important, you need to develop an absolute focus
on the core components of your pitch. What are those core
components? They’re detailed in the following tips.
4. Explain EXACTLY what your product or service is.
Show your potential investors a picture of, or give them the
actual product to handle.
Be careful not to drone endlessly on about your product.
Honestly, investors don’t really care about your product as
much as they care about the money that your product will make.
The sooner you get to the good stuff — the money.
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