September 1: In addition to being a serial entrepreneur and business tycoon, Mr Saubhagyaa R Swain is the founder of the internationally-known ‘Vincitore Group multinational corporation. With his Six Rules for Elevating Your Pitch, you can take your business to the next level.
To start a business off the ground and you don’t have enough money for that, you will need to pitch your idea to potential investors. For that, prepare a solid elevator pitch.
Pitching in business refers to explaining your business to another party, enabling them to make the right decisions and secure funding. Another party can be potential investors or potential customers.
It allows you to find investors, attract great co-founders, and recruit the best employees. The pitch is the perfect step for you to enhance their knowledge about your business.
Generally, a company gets a short time to pitch to make its case. A business pitch needs to give your audience a clear understanding of your plans. Here’s how to make that quick pitch successful:
Be knowledgeable. Have a thorough understanding of your business idea. You need to be an expert in the subject and confident in your pitch. If you are unsure of yourself, no one will want to invest in your idea. Provide accurate data or research to support your claims. That will help you prove your credibility and obtain your audience’s trust.
Understand your audience. You also need to research your audience and their interests. This approach makes your pitch more personal to them, which can serve as an effective motivation method. It helps them understand what they specifically can gain from your idea. Investors won’t support you unless they are satisfied. No customers mean no profits. Your business idea is your passion, but it’s about money investing and the benefits for investors.
Visual presentation. It is one of the best ways of leaving a lasting and positive impression on your investors, clients, or customers. There are many tools to create a visual aid as per your pitch. Make it interesting and professional with charts and graphs. It gives a more tangible understanding of the project and how it works. The best way to prove your business better than your competitor is to list the features/benefits of your competitors on one side of the page and yours on the other.
Manage your time. You should not spend too much time pitching your idea. Almost thirty minutes is enough time for the pitch. Be brief but comprehensive and condense your information to fit in that time frame;
Practice your pitchWhichever type of pitch you need to perform, give yourself sufficient time to practice so that you don’t seem rushed to get the information out. This ability allows you to focus on your audience and engage with them. Not being able to speak for each element of your business makes every tip on this list useless.
Feedback is important. Ask for feedback and look for areas to improve for the next pitch. But if the investor isn’t willing to provide any, don’t push the issue. Keep refining your work even if you’ve found the perfect pitch.
If you’ve piqued the investor and finished your pitch, you are almost successful. Don’t stress yourself, and treat every opportunity as a learning experience.
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