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Top 10 tips on how to pitch
1. From Problem to solution
2. “ Be a do-er”
3. Make Simplicity an obsession
4. Plan in a new space
5. The art of Rehearsal
6. Know your numbers
7. Confidence is key
8. Beware your body language
9. Remember the everyday
10. Take to the stage
How to pitch:
What is an investor looking for?
They want a great investment story and a business that is long term sustainable.
Who should you be telling your story for?
For the people you are passionate about helping. The business plan is important yes, but if its strong enough, you can use it as a platform to make an incredible difference for the people your business exists to support. At the end of the day, investment is into people not into business models and its impossible to underestimate how important your relationships with people are; they are the oil to the engine of your business.
1. From Problem to solution
Remember your audience does not want to be told a catalogue of problems you are facing, financially or otherwise. You should use your pitch to outline the problems and the solutions, which will create a positive reason for them to invest and enable solutions for you. It’s a good start to be honest and to get everyone on your side.
2. “ Be a do-er”
Social enterprise is known for the passion of the people driving it, and their ability to roll their shirt sleeves up. To this end your solution does not need to be the most mind blowing original one to show itself as the best. It just needs to be practical, because its true in life as in business - a solution that is not utterly perfect but is pragmatic will be actionable and create a deliverable improvement.
3. Make Simplicity an obsession
The simpler your idea and the simpler your presentation of it, then the more likely you are to emerge the winner.
4. Plan in a new space
Sitting at your normal desk not the best place to find inspiration, and often a complete change of scenery will give you the clarity to get your idea on the page and taking shape. Whether it’s the pub or a park, try and organise your week to give yourself some clear space to think and get inspired.
5. The art of Rehearsal
You may be dreading the presentation itself, but like most things in life we don’t want to do, it gets easier once we start doing it. The great thing about rehearsing is that you are with people who know what you’re trying to get across so don’t try and “deliver” it but just start by communicating the content.
If they have comments, don’t be defensive but write them down – this forces you to think before you speak, and can allow you to get an overview on what changes you need to make, as well as the kind of questions you might be asked.
Finally when it comes to “delivery”, practice on your own – this is key to good delivery and will give you confidence when you are faced by the panel or audience.
6. Know your numbers
Whoever you are pitching to for investment will have scrutinised your business plan and will want to know what the numbers mean. You are there to talk about how things will work in practice, which includes the costing, cash flows and staff salaries. Hopefully at this point, you will feel confident in your business plan so make sure you use all that hard work to engage the panel’s confidence in your business thinking.
7. Confidence is key
In reality investors are not backing plans, they are backing the people behind the plan so if you don’t have confidence, the audience will not have confidence in you or your plan. Bring out your most confident persona because at the end of the day, its a very infectious condition!
In practice this means speaking directly, simply, and communicating that you think you should win, rather than making out that you need to win. Trying too hard to be confident can look desperate thus inspiring no confidence, so treat your audience with courtesy but as equals.
8. Beware your body language
Your body language needs to suggest that you are looking at the problem together so walk in front of the panel knowing that they are people too.
There are some really practical ways of being confident in your style including your pace and how your deal with questions, youruse of humour, and making eye contact. If you are using notes don’t just read them, if you stray from the script it will only show the panel more of the person behind the pitch and make the presentation less rigid. It should feel more like a dialogue, with you giving an introduction to the investment idea up for discussion.
When it comes to questions, remember the panelist will probably know the answer but they are trying to size up what a working relationship with you would be like so be yourself and be your business. Finally, don’t be afraid to be a bit cheeky where appropriate.
9. Remember the everyday
We are constantly trying to convince someone else to do something that we want in our everyday lives, so remember to be ‘normal’. You are asking for investment and want the panelists to see your point of view so just be your most persuasive, using your everyday experience to guide you.
10. Take to the stage
There is a role for the theatrical and dramatic in making an impactful pitch. The panelists are finally getting to meet the person behind the business plan and they will enjoy seeing the whole you, the logic and emotion that has got you to where you are now. As with all good performances, think about your audience, make sure the story line is linear and clear and end on a great note to leave the panel wanting more, and wanting to invest in you and your business. |