Delivering the Perfect Pitch
How to Get Heard, Get Recognized, and Get Ahead
Have you ever had a great idea but were unable to get the buy-in of your boss or senior management? Or every time you discuss it, people have a difficult time understanding or grasping your concept? I see this all the time at investment banks, Fortune 1000 companies, and from very bright and talented people. How can you make sure your ideas cut through the clutter?
Pitching an idea, product, or service can be very daunting. After all, you only get one shot at it. Crafting your pitch can be challenging even for experienced presenters. To deliver the perfect pitch, you need to know what you want and why it is important to you and to your the audience.
Prep Before You Pitch
There may truly never be an instance when first impressions matter most. Prepping before you pitch is essential. Consider what elements your audience will be listening for. They’ll be expecting enthusiasm, but your passion should be reinforced with facts.
Demonstrate Knowledge of Customer
Who will buy what you’re selling? Will it be profitable? How will it impact the world (economically, ecologically, financially)? Your pitch must include evidence that you’ve performed the necessary research.
Demonstrate Your Team’s Ability to Succeed
More than having a product or business idea that will meet consumer demand, your audience will look at whether or not you and your team have the talent, skill, and experience to make your vision a reality. This isn’t about where you have previously worked or how many academic degrees you have earned; people want to see what you have accomplished and how well you lead.
Demonstrate Knowledge about Your Competition
Research your competition. Understand what they’re offering and how your offering will differ. Be capable of explaining (without disparaging) those differences. And don’t assume that a lack of competition will work in your favor. Investors often see competition as further evidence that your idea will work.
Know Your Vulnerabilities
Candidly discuss the weaknesses your company, team, or product might have. This realistic self-assessment will help your audience better assess the opportunity – and even provide solutions to help solidify your weak areas.
Show Them the Money
How much do you need from your investors, how will it be spent, and what will be their return on the investment? You also should consider what you’re willing to give in exchange for their investment.
Prepare Your Perfect Pitch Deck
Create a high-level overview of your idea to accompany your pitch. Each slide should be clear, pointed, and factual, communicating necessary information. Your slide deck should include:
Opening slides that offer a 30,000-foot overview of your vision or idea. It’s the core of what you’re trying to accomplish
Slides identifying the problem you’re trying to solve and establishing the consumer need for a solution
Your product, service, or business idea
Marketing slides that explain differentiators, the target market, competition, and angle
Financial projection slides that predicts costs, profits, and time necessary to achieve profitability
One slide that introduces your team and their strengths or roles
Each slide should help tell the story you’re trying to convey in concise, graphical, and memorable visuals. Keep the design clean, and make sure each slide title clearly conveys the message of that segment. Each slide should show, not tell - illustrate a story and match the illustration with supporting anecdotes.
Prepare Your Pitch
There are two things you can do to prepare, even if you do nothing else, that will give you a better shot at success:
Know your audience. Not every audience is the same or has the same motivations. Know who you will be pitching to, and tweak your pitch to suit them. Some investors lean more heavily toward wanting the right team in place, while others look solely at numbers. Emphasize the right points for the right audience.
Practice, practice, practice. There is nothing worse than finally getting the opportunity to pitch your big idea and being stopped cold by a question you’re not prepared to answer. Practice your pitch until it’s smooth and polished, then do your best to anticipate any questions that might come your way, and practice your answers to them. Practice your pitch out loud, on video, with a practice audience. Play Shark Tank games. Do everything you can to be as prepared as possible.
Delivering a Successful Pitch
Everything from the way you dress to the volume of your voice, will have an impact. But do you know what people are really looking for when you stand in front of them? It’s not the facts and figures on the slides. It’s not even the idea you’re pitching. You won’t even get that far if you don’t demonstrate passion, enthusiasm, and confidence when you stand before them.
In most cases, you have less than two minutes to make a memorable-enough impression to have impact, so start with the big stuff and then fill in the details. Use your energy and passion to deliver a powerful but concise presentation to your audience.
Originally published on LinkedIn