You’ve thought up a unique solution to a real world problem, assembled a crack team of professionals to help you, and now need to know how to pitch investors your idea to potential investors. What you need is a short, pre-prepared speech – call it an elevator pitch – that explains your idea clearly and succinctly.
Here are three tips you should consider when crafting your how to pitch investors:
- Know What You’re Selling
Conventional wisdom will have you believe that you are selling a product, company, or service to your potential investors. Those are all part of the equation, but first and foremost, you’re selling yourself. People invest in people.
It isn’t as much the product or service that potential investors are basing their decisions on – it’s you. First impressions are everything, so don’t be afraid to let your passion, charisma, and unique personality shine through. Be the sincerest version of yourself. When you meet with potential investors, you want them to think, “this is someone I want to do business with.”
- Define Your Goal
Know exactly what you want to achieve. Do you want to take your product to market in 30 days? Do you want to release a new product that extends your footprint? Do you want to raise startup capital for a big idea? Whatever it might be, define for yourself what needs to be done in order to achieve that goal, and be prepared to say so.
- Create a Call for Action
At the end of your elevator pitch, design an “ask” for your potential investor. The goal here is to get your potential investor to engage with your idea. Your “ask” can be as simple as asking whether the person knows someone who would benefit from these services. Understand that you’re not asking for their business – you’re simply encouraging your investor to engage with you and your idea.
Above all else, practice makes perfect. You may have written the best elevator pitch in the world, but it will still fall flat unless you practice it religiously. The more you practice, the clearer and more powerful you and your idea becomes. Once you’ve perfected your elevator pitch, you’ll be able to pull it out at a moment’s notice – whether it be during an investor meeting, or while networking with strangers.