Successful pitching – how you can convince investors
Our blog recently reported on the different types of pitches and the contents which should always be included in a pitch deck. What should you do, though, when the big moment actually arrives and it’s time to make your pitch to investors? Simply reeling off your presentation isn’t enough – you also need to be able to promote yourself in a convincing way. Regardless of whether it is an elevator pitch or a more detailed one – the key is always to impress the audience with exactly the right note. How is this done? We’ve compiled some advice below to help you.
The AIDA formula will no doubt be familiar to anyone who has ever had anything at all to do with marketing. It works as an ideal guide to finding the correct level of interest and suspense. Here is what the formula stands for in detail:
- Attention: a question or a controversial statement – no matter how, but make sure to start with a bang and get the investors on board straight away, as the initial seconds are decisive for securing their attention later.
- Interest: present facts and figures, but keep them simple and clear.
- Desire: provide a detailed explanation of the added value to your audience and why they should join your business.
- Action: ideally, you will convince your investors to go into greater depth at a follow-up meeting. Make it clear that you are ready to get started.
Facts, figures and a sophisticated presentation strategy are important, but they will count for nothing if the speaker on stage is too intimidated to get a word out. Here are a couple of tricks to grab the attention of your audience.
Keep it short and simpleThis not only applies to the overall structure of your presentation, but also to your speaking style. Don't get yourself muddled up in convoluted sentences and avoid the unnecessary use of specialist terminology.
Avoid over-elaborate presentationsThe temptation to present all of your skills and previous successes in as much detail as possible can be strong. But overwhelmed by the flood of information, your listeners will quickly tune out. Keep to what's most important – also in your presentation: one concept per slide means your audience will be able to follow you without difficulty.
Leave room for discussionsEven if you have an hour to present yourself and your idea, keep things brief. Firstly, your audience will hardly be able to maintain a high level of attention for 60 minutes and secondly, you can use the remaining time to discuss any questions in greater detail.
Pay attention to your body languageNot everyone can be Steve Jobs on stage, and sometimes, less is more. Whatever happens: be yourself. The most important thing is a confident stance which radiates confidence and professional knowledge.
Ask questionsAnd give intelligent answers.
Inform yourselfAll tips and tricks aside – your success will naturally always depend on the attitude of the investor. Should you have the opportunity, find out before the pitch who you will be talking to and address their specific requirements.
As always: practice makes perfect. There are numerous opportunities for young entrepreneurs to put their pitches to the test in Bavaria – either in one of the many business plan competitions or a networking meeting run by Bayern Kapital.