First impressions can mean everything, especially when it comes to making the perfect pitch. Here’s why the first 60 seconds count the most.
The most critical skill, for an entrepreneur, is the ability to make an effective pitch. Whether you’re pitching to an angel investor, bank, or venture capitalist, it’s the first few moments that can make or break the business.
It goes without saying that persuasion is what will get you that check—but there are some other important things to keep in mind if you want to make sure your pitch is flawless.
To say that the first minute is critical is an understatement. If you don’t grab their interest in the first 60 seconds, you’ll lose their attention—possibly for the rest of your pitch.
“The key to a great pitch is its ability to be compelling.
Make sure you are confident and your energy levels are up. Know your numbers, your concept, your idea, and how the money will be spent.
Your business plan should be solid: no gaps and no loopholes. If it is financially feasible, invest in a professional accountant or consultant to go through your business plan and make sure it’s up to par.
You probably know that already, right?
The key to a great pitch is its ability to be compelling. In fact, it should be unforgettable. Your pitch should be riveting enough that investors will want to be a part of your vision the moment you end your discussion.
There are three key elements necessary to a good pitch: vision, value proposition, and roadmap.
Your business idea should really be a story about you and your vision. Remember, though, not to mistake your vision with a delusion. Investors cannot be fooled with unachievable dreams, and they will see right through your fluff.
What opportunity have you uncovered, and how will this business address it? If you want to create a successful business, start with a problem or issue. How will your business tackle it?
“If you want to create a successful business, start with a problem or issue.
How do you articulate your vision? Break down your market. Where is it now? Where is it going? How will your business evolve with market changes?
Once you articulate the need you hope to satisfy and your value proposition, planning how to execute your deliverables in a detailed manner will show that you’re in touch in terms of business acumen.
Your value proposition should be as specific as possible. Who are you targeting, how will you position your business to be needed by this market, and how will it keep up?
Make sure you find a link between your vision and how you execute it. Build upon that link. The best way to illustrate this through a roadmap: your plan of what you want to do and when, over the course of your business. Compare this roadmap with your value proposition and vision, and you’ve got yourself a strategy!
Start practicing your pitch, believe in your vision, and be unwavering!