Q1. Do I use a backstory/history of my product in the beginning?
Every person today will agree that their attention spans are way shorter than what it used to be. Be it books, blogs or history. Nobody wants to waste time explaining the history of the birth of the product. When making a pitch, always keep it short. Give them an overview of your proposition, and learn to hold your listener’s attention right from the beginning. Remember, short is sweet.
Q2. Should I use many images and slides in my presentation during the pitch?
It’s not only your boss but every venture capitalist in the world as well will tell you to minimize the number of slides you use. Learn to keep it minimalistic and crisp. Use images that are of high quality and that connect well to your ideas. Ambiguous images will just make your listener confused and eventually lose attention. Recently, Leonhard Widrich and Joel Gascoigne, founders of Buffer, used 13 slides to land $500,000 in three months. Less is more!
Q3. Do I create suspense and mystery in the beginning?
The entrepreneurs already know what your product is and thus, have given you an opportunity to make a pitch. Cut the mystery and suspense, but instead create the need for your product. The main thing running through your listener’s mind when listening to you is, “what problem are you trying to solve?” Give them a definite, concrete statement of the problem and establish the need for your product. Show them how it will affect the people and in turn solve the problem.
Q4. How long should my pitch be?
There are pitches that have not taken longer than 15 minutes, seven minutes, five minutes and even two minutes. The main point is to deliver your product with all its attributes and how important is it in the industry today. And to do so, in the shortest given time, will not only make your listener happy but will also fetch your extra brownie points. Practice your pitch in front of a mirror or your friends to give it that finesse your listeners are looking out for.
Q5. Do I reveal the other competitors who are doing the same in the industry?
This is an extremely important step. Who is your competitor? What are they doing? Show your listeners what you are offering and more importantly, how is it different from your competitors? And if possible, prepare strategies against the current trends of your competitors. Always good to have an upper hand, right? Shows how well-read you are, as well!
Q6. What’s the next step after the pitch?
Practice your follow-up steps as well as your pitch. People usually get so caught up in the pitch that they forget to take into account what’s coming next? Make a list of all the possible questions the listeners can ask you. Make it clear what you expect from your audience and where you see your product in the future. A perfect pitch without a perfect follow-up is like a hike that is lesser than your current salary.
You can hire a business centre in MG Road, Bengaluru or shared office space in Churchgate, Mumbai, offering all the amenities your require to make your perfect plan that you will pitch in front of your potential investors.