How to Pitch an Investor: 3 Lessons from Shark Tank
I’m a proud mama of three children. When anyone asks my oldest what he wants to be when he grows up, he usually answers, “I want to be an engineer so I can design environmentally friendly power plants.” That’s a noble goal, and he’s a smart guy. He’ll need to pitch an investor and present his ideas to a potential boss, one day. Hopefully, he’s getting a head-start on his pitch skills, as there are some important lessons to be gleaned from the show.
What can you learn from watching Shark Tank?
Make your pitch compelling. Investors are bombarded with pitches and investment opportunities every day. How is your idea different? Develop the messaging to highlight the feature that sets you apart from your competition. That will be the information that grabs the investor's attention.
Be prepared for the challenges. It never ceases to amaze me when one of the entrepreneurs in “The Tank” looks shocked during the Q&A segment. You will be challenged, so you’d better be ready to respond without looking visibly shaken.
Show confidence. CEOs and management teams make a huge mistake when they forget to sell themselves. (Conversely, some management teams or entrepreneurs oversell themselves and don’t focus enough on what makes the investment attractive.) Even more than your product, an investor is taking a chance on YOU. It doesn’t matter whether you are pitching a widget, a service, or a multi-million dollar investment opportunity – it is the trustworthiness, dedication, and singular focus of the entrepreneur that makes a Shark reach for his or her checkbook.
The likelihood of an investor saying “NO” is always higher than getting them to say “YES,” so make sure you give them every reason to have trust and confidence in your ability to lead the opportunity to success.