It isn’t easy to wow an investor, but when you do, you have a powerful ally. And this can mean the difference between success or failure for your business. But how do you get them on board? From knowing what you are selling to preparing yourself, here are some suggestions.
What you can expect in this article:
Help them to Visualise
It can be challenging for anyone to get excited about something if they cannot form a clear picture in their heads. This includes the product as a whole but also the benefits should they decide to invest. You pretty much need to hold their hands and lay it all out. Presenting well is a great first step. But you can also supplement your pitch with well-made booklets with easily usable spiral binding, a quick video introduction, or interactive apps to drive home the vision.
Understand Your Product 100%
There’s an adage in sales that you cannot sell what you don’t understand. This is why some of the world’s best salespeople take the time to get to know their products. With an investor, this is more essential because they will be looking to you to guide them. And if you cannot answer questions about your pitch, you shouldn’t even enter the room. Common investor questions will be asked about market opportunities, where your figures come from, and annual growth rates.
Wow an Investor with a Story
You may be shocked to learn that around 99% of investor deck pitches fail. And it takes an investor between 10 and 20 seconds to make up their mind. If you have their attention for longer than that, you may be able to close the deal. But how? Investors love a good story, and some of the most successful businesses today have fascinating stories behind them. The reason is that stories are engaging, and helps people identify with a brand, and investors are no different.
Think What They Will Ask and Prepare
As mentioned, investors will ask questions. And you need to be prepared for what they might ask and preempt what you may not expect. This all depends on the product and the people in the room. A good way to strategise your answers is to learn about who will be in attendance. One investor may only be interested in hard facts and figures. Others may want to ask about how you can nurture a brand to appeal to a demographic. Researching who you are speaking to will help.
Practice Your Pitch Over and Over
Finally, you must practice the pitch as though it is a stage performance because, at the end of the day, that’s what it needs to be. Practice the script so you can do it without having to stop and refer to data. Gaps in the initial pitch will look unprofessional and can tank it in an instant. However, learn to balance this with interruptions because you will likely be stopped as an investor asks a question. So, remember to handle this so you can instantly resume afterwards.
Are You Ready to Wow Your Investors?
Helping them form a solid image can wow an investor, and so can an engaging backstory, which helps you connect. Of course, this relies on practising the pitch and memorising all the data.