The Dos & Don’ts Of Pitching Your Business Ideas
There are a number of reasons why you might be wanting to pitch your business idea, maybe you are looking for investment to get your business up and running. It could be a case of wanting to meet new people, make valuable contacts and get your business in front of the right people. Or you could be simply trying to sell your new company and service to a new client who’s interested in your business.
With all this in mind, below is a list of some of the dos and don'ts that you need to consider before delivering your pitch in front of the right people.
What to do:
1. Show a little confidence:
Let’s face it, if you don’t show that you believe in your company how can you expect anybody else to? When you start your own business you have the ability to sell what you are providing in which ever way you see fit. You need to love your idea the most and show enthusiasm. Make everyone feel good about your business and show them how your company can help make their life easier and more fulfilling.
2. Plan, plan and plan some more:
You know the saying, ‘Fail to Plan, Plan to Fail’ and don’t you forget it! If you don’t use your time wisely and prepare then how are you expected to get anywhere? You cannot afford to not use this opportunity to your full advantage. Make sure you have included all the important information in your pitch and explain it in simple terms. People are going to be new to your product so don’t use technical terms and expect them to get it, because they won’t but they will switch off.
Oh so you think because you have a cleverly devised plan that it is all going to work out just fine? Wrong. You now need to practice. And no I don’t mean to yourself in the mirror. I mean in-front of real people. Family, friends and quite frankly anyone who will listen. The reason being, (hopefully) people will be honest with you and if they don’t understand what you are saying they will point it out so you can sort it before pitching for real.
4. Speaking of honesty…
Be honest. You will more than likely be asked a few questions once your pitch is over and if you don’t know the answer then say you don’t. Then, thank them for raising the issue and you will be looking into it further to find the answer. Panic talking will only show weakness and have people lose faith in your business. You are not going to have all the answers but you can find them to make for a stronger and more successful company.
5. Start with the problem:
Then solve it. Assuming you have done a huge amount of research before setting up your business you will be very aware of what problem you are trying to solve and how your company has the perfect solution. This problem needs to be presented in a way that your audience will relate and identify with. If you have a very specific target market then you need to show how that market needs your business to solve their predicament. Then, go through step by step how your company solves their issues.
What not to do:
1. Don’t be over-confident:
Contrary to what I said earlier being over-confident can kill any chance you have. Pitching your idea is having the opportunity to let people listen to your idea and sell it to them. If you act like their opinion or approval is irrelevant potential customers will switch off and you will be just another one of many.
2. Speak too much:
Silence shouldn't be seen as a negative. People need time to process all the information you are throwing at them. If you don’t give them that necessary time, they won’t be able to keep up which will only increase the chance of them switching off. Engage with your audience of course, but ensure that you include the necessary breather for them to keep up and ask questions.
3. Overload your pitch:
As well as not speaking too much, you also need to make sure that what you do say counts. Do not overload your pitch with unnecessary details that only complicate what you are trying to say. Clear and precise points are key, starting with the least exciting feature gradually building up to generate interest and excitement in your company.
4. Read from a script:
Improvise. And this is why you need to practice because you don’t want to go in without a clear frame of mind of what needs to be included. Reading from a script appears fake and insincere which isn't going to resonate with your audience. Remember because of this, your pitch may not be the same each time you deliver it, which is a good thing - tailor it to different audiences as this will give it an ‘edge’ over the rest.
5. Be a joker:
But have a sense of humor. Being overly funny is going to poke fun at your business without you necessarily realizing it. You need to find the balance of serious vs playful so you company has authority as well as a personality. Be aware of who you are pitching too but never take yourself too seriously either.
Presenting your pitch isn't going to be easy but it is the perfect opportunity to get your business out there so don’t be afraid, revel in the challenge.
Are you looking forward to pitching your business?
Do you have any tips that you followed to help you when you presented yours?
We would love to hear your thoughts?
Fivenson Studios is based in Ann Arbor, Michigan, our graphic design team specializes in logo and webpage design, as well as marketing campaigns for social and print media. From flyers and brochures to targeted landing pages, we aim to bring your company into the spotlight and reach a greater range of potential customers.