You have creativity, business sense and a great business idea in your bag, but the thought of presenting the idea to a potential investor can still give you the jitters. Pitching an idea is not everyone’s forte, but mastering this skill will definitely be an addition to your armour, doesn’t matter if you are an entrepreneur or a marketing manager.
The art of pitching an idea is largely the same in most fields of work. In this digital era, there are endless ways in which you can present your pitch to wealthy investors who help you realise your ideas. The goal of a pitch is to convince another person to put their time, money or efforts into your brainwave. So here are a few pointers that will help you master the art of pitching just about any idea.
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This is not just about being ready to pitch your idea, but preparing yourself and making an effort to stand out as an individual. It is crucial to create an impression on an investor and remember that their first impressions are formed even before you start putting your idea forward. Investors will always try to assess you as a person first and observe how thoughtful, fast and efficient you are. While you make the pitch, they are also judging whether you have it in you to sustain the projected idea.
Shape your pitch
Present your pitch in the most creative, visual and interactive way as possible. Many investors are blown away by a brilliant presentation first rather than an outstanding business plan. Do extensive research. Remember that it is not easy to convince someone to part with a million dollars without proving to them that you have the required expertise to make best use of their money.
Understand the market
Have a clear understanding of your market and let your investor know this through your pitch. For instance, if you are planning to build a startup, you need to understand three quick factors--your target audience, your potential market and your competition in the market. In your pitch, explain in detail how you plan to deal with all three.
Consider the investor’s view of the world, too, and keep it in mind that the better you pitch your idea, the greater your chances are to be successful. Keep your audience in mind and put in serious thought about what they expect from your pitch. Put yourself in their shoes and research well about their backgrounds and perspectives.
Be clear and objective
While presenting your pitch do not shy away from stating the obvious, just do not overdo it. The pitch must explain your plan and its outcomes clearly. You must include details about how your startup will operate, how you plan to generate sales, track them and how you intend to make a profit in this highly competitive market.
Deliver the idea
Now you know the frame of mind you need to have when you head to the venue. You also have a presentation, and everything else in place. The final stage is to get out there and do it. There are somethings that you need to follow when you are doing that as well. They are:
- Use your vocabulary in the best possible way. Not too many bombastic words, and not too simple either. Create a balance.
- Be polite, but do not get pushed around by them.
- Be confident. Try to avoid fumbling.
- Make eye contact with them at most times, but do not seem like you are staring into their souls.
- Ask for, and listen to feedback carefully. Try to immediately accommodate the suggestions in your business plan if they are not too radical.
What matters most is to be clear and specific about what you need. So, are you ready to pitch your idea to an investor? Keep these pointers in mind, be confident and do it your own way.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.
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- Pitching an idea