How To Craft The Perfect Pitch

Perfect Pitch, Sales Pitch, IT project management, marketing strategyNo matter how great your idea, without sufficient capital, it’s unlikely your product or service is going to reach its potential. The below steps could help you craft the perfect pitch and enable capital growth.

What is the problem and how is it solved?

Any good pitch should be able to clearly define the business idea and how it is going to solve someone’s problems.

How is the concept going to make money?

It’s important to remember that each and every investment comes down to money, and how your business is going to earn venture capitalists or angel investors a profit. For this reason, before you begin the pitching process, you need to have consulted with a business advisor and accountant to draw up a viable business model. A business model also needs to outline how the funding will be used once they’ve won the pitch. If you need half a million dollars, what are you going to use it for and what is the return?

What is the concept worth?

Once your basic proposition has been outlined, you need to show what the business is currently worth, and how that value is likely to grow over the next two to five years.

What is the exit strategy?

The pitch needs to show how and when the investor can expect to see a substantial return. An exit strategy refers to the point of profit for the investor. It doesn’t have to be a complete exit from the business on the part of the entrepreneur, it just means the investor has to get out for a higher price than was paid in the first instance. An exit figure is usually set by multiplying the business’ annual profit by a number that varies depending on the industry and the nature of the business.

Personality

It’s important that a pitch builds confidence in the investor with respect to both the idea and the people involved. While not every investor will insist on being as hands-on, others will require a high level of transparency and communication with the startup they’re funding, and this means keeping a good working relationship between the business owners and the investor. Personality is more important than their ability. Beyond personality, the investor will also be looking for an indication of relevant experience in running a business.

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