3 December 2021

Ten Proven Strategies for a Successful Entrepreneurial Pitch

The entrepreneurial pitch is one of the most difficult presentations to deliver. You have a fantastic company idea and are looking for funding to make it a reality. The issue is that venture capitalists, angel investors, and even wealthy relatives have a strong bias against you. Why? Because 99 percent of the pitches they hear seem like guaranteed recipes for financial ruin!

If you are seeking funding for a new enterprise, you should adhere to the following rules:

  1. Within the first thirty seconds, describe your business in detail. Numerous entrepreneurs squander valuable time providing copious amounts of data, background, and other information—all the while leaving investors scratching their heads, wondering, “What does this business actually DO?”
  2. Inform your audience about your intended clients. Create a clear, specific image of these individuals.
  3. Describe why your customers are about to hand over their hard-earned money to you.
  4. Identify your competition. (And if you claim to have no competition, you are a dead giveaway that you are uneducated and deserving of no investment money!)
  5. Justify why you are the ONE who can bring this about.
  6. Deliver your presentation with assurance and zeal. Investors want to see that the founder/CEO is a chief salesperson; they want to show that you can sell your concept to the entire globe, not just to them.
  7. Describe which star you might be able to snag a ride with. Is Best Buy or Radio Shack interested in carrying your new product? Investors will feel considerably more secure knowing that you have a well-established partner eager to distribute your products.
  8. Request a certain sum of money. If all you do is solicit funds, you cannot complain if an investor pays $3.25 for a cup of Starbucks coffee.
  9. Clearly communicate to prospects what you want to spend the money on (hint:a trip to Maui for you and your friends will not impress)
  10. Dress impeccably, project confidence, and convey the impression that you do not want their money but would accept it if they bring enough to the table to be a strategic partner for you. Unfortunately, but true, human nature dictates that people are much more willing to offer you money if they believe you do not truly need it.

Finally, use each pitch as a focus group for your subsequent presentation. When one set of investors asks you a series of questions following your pitch, jot them down and ensure that the majority of them are addressed in your subsequent pitch so that the next group does not have to. Continue pitching and refining your pitch, and you may eventually receive funding.

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