Chapter Eight - secrets of creating and developing a compelling pitch
by Joe · 63 things on Twos
- Can be a daunting task
- You can wow investors and get the backing you need
- A pitch is a presentation where you have 10-40 minutes to sell investors or organizations that you, your team, and company present an opportunity for them to reap significant returns
- They usually see a pitch deck and presentation are the first thing they will see
- On average only 1% get funded
- Because they have a bad pitch and can't communicate the viability
- The best pitches are when the entrepreneur can convince you in 10 minutes they will make a big difference
- It is sort of magical when everything clicks
- If you can't figure out a way to get a warm introduction, you probably can't find the way to your customer either
- Once you have the warm introduction, outline your business idea and ask for the meeting until you get a yes or a no
- If no, ask why and then ask who else we should talk to
- When they say yes
- Find out who will be in the room
- Research the kinds of deals they've done and the size
- Dig a little deeper to figure out what gets them excited outside of work
- Build rapport on that and establish a connection to your app through that interest that they have to customize the pitch
- The pitch is not designed to raise money but to get the second date
- Intrigue them to want to know more
- Pitch should answer -
- Why you and your team?
- What traction we have?
- How we will scale?
- How they will get a great ROI?
- Why now?
- Why is it the perfect time?
- Unspoken questions the investor is asking
- Will this work for me?
- Do I like you?
- Do I trust you?
- Pitch needs to a combination of -
- A clear business plan as outlined in your deck
- A compelling presentation with interesting stories instead of dry facts
- Delivered by you with confidence, passion, clarity, and brevity
- Essentials of a great pitch deck
- The real goal is to get a second meeting
- Short, sweet, to the point
- A great pitch tells a great story
- Investors see thousands, make sure you stand out
- Turn the facts and figures into a great story
- 'Let me tell you a story'
- They will relax and appreciate the emotional journey
- Clear beginning, middle, and end.
- Use slides only as an outline
- Open with who you are, what you're about, and why you're presenting
- Follow up with a fact that will gain their attention
- 90 seconds to open
- Let them know that you are excited to move onto the next phase and invite them on the journey
- Make them feel like you will be successful with or without them but they will be missing out
- Take all the information and only pull out the nuggets that will make them want to invest
- The confused mind will ~always~ say no
- If you can't answer investor questions, we will also get a no
- Be concise and clear
- Prioritize your time and know what you can cut out
- The most valuable asset investors have is their time
- If told you have 15 mins, take 10. If told you have 30 minutes, take 20.
- Only take exactly the amount of time you need
- The more clear, concise, and compelling, the better
- Make sure your stories are effective
- Attempt to produce a strong emotion
- Don't be afraid to show excitement and your commitment to make it succesful
- CONFIDENCE - practice, practice practice
- Delivering a powerful pitch
- A lot of good tips on how to remain confident