How to Make the Perfect Pitch
We all know that pitching an idea is hard, not only because you want to convince your potential investors but also because of time pressure. How are you supposed to put all that content, which could fill an entire hour, in a 5-minute pitch? We looked at the most important rules when creating and presenting a pitch and what investors are looking at when deciding whether or not to invest in an idea.
Know your audience
Research your potential investors and tailor your pitch according to what they are interested in. Finding an alignment between your business idea and their positive triggers will make it easier for you to get their attention.
Introduce your team
Your potential investors want to know who they might be investing in and if you have a team that is able to back you up. Therefore it is crucial to introduce your team, their background as well as their professional experience to the audience. The timing is up to you – either introduce them in the beginning or at the end of your pitch.
Tell a story
Try to minimize the number of slides you use. If you can, don’t use any slides but focus on telling a story and engaging your audience, with the important numbers in mind of course. You will be surprised how much more attention you get when not reading from slides. Keeping it brief also counts for the structure of your pitch. There are several rules you can apply for structuring your pitch. The most popular one seems to be the 5 seconds, 30 seconds and 5 minutes multilevel rule. 5 seconds refers to a short explanation on your idea whereas in the 30 second version you describe how you plan to achieve your idea. Once you are able to explain your idea in 35 seconds, you can broaden it to 5 minutes.
State your competitive advantage
This step is has to be included in every pitch. Tell your potential investors why your idea is better than what your competition does, why it will be more successful or at least how it is different. You should also know of any potential new competitors that might form an obstacle for your idea.
What is your next step
You have to know your next steps in case you get a positive response from your audience. Also make sure you’re able to tell your potential investors what you need from them if they choose to hop on board with you.
Show passion – don’t beg
It is definitely important to be passionate about your idea. Just don’t take that passion to an extreme and appear desperate. Be confident about your idea and engage your audience with the steps provided above.