In the field of start-ups and budding businesses, the term "pitch" is often tossed around. This very short explanation of what your company does and who you are is incredibly important for procuring investors. Here are some basics to create one to help you gain funding for your latest venture:
Explain yourself
The entire point of a pitch is to leave your audience with the information they need to know about why they should finance your company. Tell them right away what the business name is and what services or goods you provide. For example, "Little Chompers is a dentist office that provides children with a comfortable and fun experience. We are located in San Jose and offer services to anyone ages 2 months to 16 years. We make kids and parents feel at ease so a trip to the dentist isn't a traumatizing experience." This message shares what your company does, who it services and where it is located, all things potential investors need to know.
Take Questions
You're not providing a lecture to college students, so no need to finish your pitch by asking for questions. Instead, after you've said your part, there shouldn't be any questions left to ask. You've already told them the main points they need to know. In which case, great job! There are, however, often people who want to get to the meat of your pitch by asking particularly specific queries. For the example above with Little Chompers, someone may ask what's so special about your practice that makes it friendly for kids? This is when you delve into the little details, like the TV's are at perfect height for children to watch the Disney Channel or cartoons during their routine cleaning. Talk about the smaller, comfortable chairs and the purposeful design of each exam room that makes everyone feel comfortable. Have a few extra talking points to touch on if someone wants to know more and you'll be all set to ace this investor pitch. The more you know about your company and goals, the better your likelihood is of getting funding.
Avoid Buzzwords
As a company owner, you've likely come across quite a few buzzword-filled resumes. These touchy terms like "innovative," "integrated," and "diverse" have been so overused they often don't mean anything at all. Try to avoid these words and instead say what you really mean. If you think your children's dental practice is innovative, explain why. Talk about the process to make kids annual checkups much less stressful and more enjoyable. That's the information your potential backers really want to hear. Saying the company is innovative doesn't mean anything – in order to be relevant in any industry, you have to be innovative. Share what you're really doing and stay away from meaningless buzzwords.
Be Sincere
In reality, a pitch is a sales move. Yes, you are selling your company and its services to whomever is listening, but that doesn't mean you need a suit, tie and diagram to make a sale. People are drawn to sincere pitches that lay out what a business does and why. Instead of sugarcoating your pitch with big words and colorful phrases, say exactly what your new company does and why they should be interested in getting involved financially. Smile and show your passion for the job, but don't overdo it and end up coming off as cheesy or insincere.
Add a Business Card
Your investor pitch should be so solid that those who hear it recall what your company is and who you are for weeks after you interacted with them. To really help seal the deal, hand out business cards while you talk so your audience can easily contact you about potential business opportunities and networking.