Your sales pitch is what closes the deal. Sure, there's RFPs, emails, meetings, and so on, but if you bomb your sales pitch, none of that is going to matter. And if you ace your sales pitch? Then you're looking good.
The sales pitch is no longer a document filled with numbers and profit margins. It is now expected to be a two-way communication between you and your prospective investors.
So if you want your light-bulb moments to turn into profitable business ideas, read on as we discuss some crucial elements of a successful sales pitch.
1. An honest pitch
Let’s be honest. A pitch deservedly gets all the attention because it can make or break the transaction.
Use your pitch to show them how much you actually believe in your product or service. The way you feel about your idea will tell the lead how passionate you are about it, and how much you will push to ensure its success. If there’s only one thing you can make them believe, make sure it is that you really think your idea is the next big thing that will chance the entire industry for the better.
Make the idea sharing part more personal by telling them the backdrop to your idea development. Take them through the journey of how the idea was born. If they can see the journey you have seen, they will also see the success and strengths that you see.
2. Emphasize the benefits
The best of ideas are rejected if they benefit the lead. Be aware that your lead has probably sat through numerous pitches.
Ensure that the lead has no doubts. This will open the doors for you to communicate how the association will benefit them. Do not go overboard by listing as many benefits as you can think of. List the biggest or the most interesting. If they are intrigued, you have already done the difficult part of grabbing their attentions.
3. Be short and decisive
A short but decisive introduction is one which tells you what’s in store, without actually revealing the actual details. And once the investor is hooked, make sure you follow it up with content that matches their interest levels.
It is considered to be a good trait if you also have an elevator-pitch version ready with you. You never know how and when the opportunity might come for you to present an idea.
4. Remember: you are the expert
Be prepared for a volley of questions mid-way through your pitch. In fact, I will suggest you look forward to it. Firstly, it gives you the chance to know that you have done your homework and know what you are talking about. More importantly, it shows that the investors are interested enough to clear all the questions that they have in mind.
Be prepared with numbers, research articles and everything else that you think will help in answering questions. Some investors also ask questions to see how you handle confrontations. Keep you cool and take it as a sign that they are already thinking about doing business with you.
5. Personalize your pitch
A good pitch will also give the presenter an opportunity to talk about their previous successful endeavors. Make room for it in your pitch too and paint a picture of yourself as someone who has a successful track record.
Also remember that it will eventually be people coming together to do business. Adding your personality to the presentation will also tell them the kind of person you are. When you are looking to form long-term partnerships with people, this can be a good place to start from.
The impact of a pitch depends as much on the personality of the deliverer as it does on the content.
6. Make it different
A little on the lighter note, remember the number of pitches a lead will have sat through before they get to you. Make an effort to make yours a little different from the others. This will increase the chances of your pitch being remembered by your audience.