Whether you are pitching your startup to an investor, customer or business partner, a strong pitch could be the difference between sealing the deal or losing out on opportunity for growth.
Here at Altitude Accelerator, we have hosted events like the Equation Angel’s First Look, which aims to connect our clients with angel investors to hopefully build the relationship for future funding opportunities. During this first look event, startups are given five minutes to pitch their value proposition and to answer questions. They then get to sit down one-on-one with interested investors.
The pitch is the selling point and the strength of it determines whether or not potential investors want to sit down with them to learn more. That is the true value of being able to pitch your startup with confidence.
Getting an idea and building it out is easy but standing in front of people who could take your startup from zero to one hundred and trying to sell the idea is far more challenging due to the added pressure. It can feel like your entire business relies on one five minute presentation.
Crafting a Strong Presentation
There are many different ways you can perfect a pitch presentation including establishing a need, understanding your competition and knowing your next steps. American Express has put together a list of 12 things to consider when crafting your pitch.
A an effective pitch presentation is one that allows you to stand out and get others excited about your ideas. Whether you are looking to network, gain investors, customers or even business partners, understanding your audience and being able to clearly articulate your value proposition is essential to your overall success.
“Good communication is the bridge between confusion and clarity,” Nat Turner said. Being able to help people fully understand your startup’s mission and vision is critical to getting them on board to build a partnership or purchase your product or service. If you can proudly communicate to people who you are and what you stand for, you will be one step closer to having a successful business.
Pitching With Confidence
Having the confidence to pitch a business idea in front of an audience is not a skill everyone possesses but luckily, it is a skill that can be learned. It takes time to develop and strengthen those skills but the more you do it, the better you get.
At Altitude Accelerator we want to see you succeed, and when it comes to startups, a lot of success stems from a strong pitch. Below are a few tips on how to pitch with confidence. They may seem simple but they are some of the most crucial tips to remember.
Do Thorough Research
Before pitching an idea you must know and understand your market. Wwithout them, your business will not be able to grow.
- Who is your target audience?
- Who are your competitors?
- What makes your ideas unique?
These are only a few of the many questions you must ask yourself before pitching an idea. You can find a few more here. During your delivery, you must touch upon these points to prove to others you are fully knowledgeable about your business and understand its potential reach. By having a firm grasp of who your audience is and how your business will benefit them, you will be more confident in your pitch and be able to answer any questions they may have.
Be Passionate
The truth is you cannot get others to believe in your ideas if you do not believe in them yourself. Being passionate about your business or idea and showing enthusiasm strongly translates when you pitch. You must remember that your audience is first and foremost human. More often than not, humans want to be inspired, they want to be excited and they want to know why they should trust your ideas. If executed correctly, your passion will translate into a confident pitch and a new customer or investor.
Practice
It may sound simple, but practice is key. There is a reason the saying “practice makes perfect” is so popular – it works. Think about it, the more you practice delivering your pitch, the better you will get at it. It may not be perfect, but it definitely will be improved. Which is why it is important to get feedback when practicing.
- Is your delivery easy to understand?
- Are you addressing the major points?
- Were you engaging to the audience?
Remember, the more you practice, the more confident you will be in what you are doing so grab the mirror, a few family members or friends and start rehearsing how you will sell this business idea you are so passionate about.
These three simple tips will help you to pitch your idea or startup more confidently. We encourage you to do some research, practice and show your audience you are passionate about your business!
