Tips Tricks And All Of The Above
30 Seconds Can Change Your Life
Here at Never Too Late To Start we constantly partner with our sister company 30 Second Pitch to help achieve our mission of helping entrepreneurs as well as giving entrepreneurs second chances. Every time we hold a pitch contest we always ask for feedback on how to improve the experience for next time. We are frequently asked about what makes a winning pitch and the more we receive this question the more we find ourselves asking the same thing. So to be able to give better feedback to those who submit a pitch we reached out to Professor Cusack at The King’s College to ask what it is that investors are looking for in a perfect pitch. Professor Cusack has a class on Entrepreneurship and Venture Formation where he teaches students how to find out what it is you need to become an entrepreneur and how to take advantage of resources like 30 Second Pitch.
We reached out to Professor Cusack to ask the important questions that entrepreneurs would ask investors to find out what it is they are looking for in a pitch. We came up with a list of questions ranging from “what is the most important thing to include in a pitch?” to “how should you value your company?” The very first thing he told us was to remember to include specifics about what sets you apart from other companies and why you have the expertise to make the business successful. Here are three major points he broke down.
The very first thing he told us was to remember to include what sets you apart from other companies and why you have the expertise to make your business successful. He specifically mentioned to put an emphasis on: “Explain[ing] what you do, why it’s special, and what the goal of your business [is].” Now let’s break down what he means by each of these three points. First ‘Explain what you do’, it’s in the title all you have to do is to talk about your company’s service or product you are looking to sell and make it clear. It’s important to come across as clear as possible; you want to stay away from any abstract ideas as to not confuse investors. In ‘why is your business special’ you have to explain what makes you unique. Make sure to mention what you will be doing differently, as opposed to any competitors, that will make customers choose your company. The last point is talking about ‘the goal of your business’ AKA your mission. You need to let the investor know what you are trying to accomplish through your company. Bring to light what you see missing in your market or something you want to change about the market you are entering. In doing these three steps you are creating a clear and concise version of what you want your business to become/grow into.
One of the biggest challenges business owners have when presenting is with wanting to show that they are credible. Especially when seeking your first investor you want to show yourself as a trustworthy and legitimate company to invest in. This can be achieved through complete transparency and organization. Having a business plan or having hard numbers to show what your business needs will successfully show that you know what it takes to keep everything in order.
It’s All About Delivery
The delivery of the pitch is just as important as the content of the pitch itself. Presenting yourself as a confident business owner shows you already have the mentality to do what it takes to make your business successful. This also needs to be expressed as a personal mission so you come across as someone who is passionate about your business and you’re willing to put your all into making the business successful.
To sum it up, presenting with confidence in yourself and your ideas is the best way to show off your company’s potential to investors. Once you have shown what you have to offer and what your company can do, you will be more successful in finding the perfect investor. Not only will finding the right investor help financially but you will be able to find someone willing to help your company grow!