The pitch that gets you a “YES”

“The secret to selling great work is to sell the idea of the work before you sell the work.”

Coming up with good ideas is hard enough, but convincing others to do something with them is much harder. This task of convincing someone with the power to do something with your idea is called a pitch. It is basically a presentation of a business idea to potential investors.

We all like to think that people judge us carefully and objectively on our merits. But the fact is, they rush to place us into neat little categories — they stereotype us. So the first thing to realize when you’re preparing to make a pitch to strangers is that your audience is going to put you into a box. And they’re going to do it really fast. Research suggests that humans can categorize others in less than 150 milliseconds. Within 30 minutes, they’ve made lasting judgments about your character. Which is why your pitch needs to pack a solid punch, to break the box and get you out.

The rule of the thumb is, 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 that turns heads and gets funded.

What are the ingredients of an ultra-compelling, irresistible, outstanding, and unforgettable pitch?

1. 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.

2. Customize your pitch.

Pitches are like snowflakes — no two pitches are alike. Copying and pasting the same pitch to every investor won’t get you much feedback. Do your research, and tailor each pitch for the intended recipient. The customization of your pitch will pay off in the long run.

3. Pare it down to the essentials.

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. Realize that when you’re giving a pitch, less is more. Prioritize the most important things you want to share and stick to those pieces — and take a nice, big breath before you speak. It will help you deliver a more compelling and thoughtful pitch.

4. Talk about yourself.

“When we are selling our ideas, the audience must first buy us.”

It’s important to know that investors invest in people first, and ideas second. So don’t be afraid to toot the horn on your and your team’s accomplishments — especially if those accomplishments relate to what it takes to start and scale a venture. Tell (and whenever possible, show) the investors why you are the right people to lead this venture.

5. Address competition head-on.

First of all, never say “I don’t have any competition.” This is a rookie mistake and yet many entrepreneurs make this. Everyone has competition, even if it’s indirect competition. Think about when Henry Ford built the Model T. Were there other cars on the market at that time? No, but he had to find a way to steal people away from other modes of transportation (horses, trains, and walking, for example).

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 goal of a successful pitch is to have investors begging to invest in your company. Sure, that sounds too good to be true, but it is possible.

Turning your dreams into reality is what NM Insight has always focused on. With its Business Plan Competition, Planet B, we bring to you an excellent platform to deliver your start-up pitch and win over the investors with the aforementioned tips and tricks.

Come, pitch your idea in front of a panel of investors, both industry experts and seasoned entrepreneurs, and you might just be rewarded with cash prizes, mentoring, crowd funding, training sessions, and immense exposure among the plethora of incentives!

Grab this opportunity to transform your vision into reality! Registrations starting from 15th November. You can log onto www.nminsight.org to register yourself for this exciting opportunity.