Make The Perfect Business Pitch
Getting your elevator pitch right could be the difference between your business idea either getting funding or falling flat, so it needs to be as slick and persuasive as when Don Draper does his thing.
What’s an elevator pitch?
You’ve got three to five minutes to sell someone on idea, the approximate length of a ride up a lift in a tall building. So you’ve got to make it count by condensing your carefully thought out business idea and straining out anything extraneous. You want the passion to come through but you also want to seem like you know exactly what you’re doing and that you’ve nailed down every detail from cash flow to logistics.
How to start?
Start by reducing your business idea down to one sentence. Then build from there with five more sentences that convey a bit more detail and then add another five. Then stop and edit out anything redundant and especially anything that uses broad language. Stick to specifics about what your business does and the goals for the future.
Related reading: 5 tips for negotiating with VCs
Grab their attention
Include an opening line that will capture attention your audience’s attention immediately and make him or her intrigued to learn more.
Make sure your pitch includes why you’re the right person, possibly the only person, to run it. Include the experience and expertise you possess that make you absolutely essential to the business your are selling.
You need to be able to speak confidently about your business no matter how nervous you are. This will come from practice and practice and more practice. When you’ve run through it enough times, your brain will be able to automatically will take over even when your nerves threaten to get the better of you. Also try your spiel out on several different people. Ask them to critique the weaknesses in your pitch and then amend as necessary. You will probably only get one chance at this so it needs to be as polished as possible to get your message across and your business on its way to booming.
Want to know what how to prepare and deliver an executive summary to potential investors? Check out this eBook written by Zegal’s mentor Emmanuel Pitsilis: