How to win investors over with a confident pitch

Never before have ideas materialised from blueprints into tangible products at such an accelerated pace. And although a great idea is what many aspirational entrepreneurs are impatient to refine, successful founders caution that ideas alone are worth little. Possessing the grit to perfecting an idea into a product and then being able to sell it is what will make or break an entrepreneur’s dream.

Watching The Dragon’s Den might infuse a certain sense of empowerment, but charming investors requires more than just being able to anticipate a high-pressure scenario. Working to perfect your business pitch can be one small but bold step towards turning your product into a roaring success. Here’s how to get organised.

1. Know your audience.

Whether you’re pitching to a magazine or a group of investors, you need a degree of diligence in researching your audience. What is their current client portfolio? Do they focus on a specific industry or look for certain type of products? If you’re pitching to an investor in the media sector, make sure you’ve familiarised yourself with the product, and watched their television channel or read their magazine, so that you can recommend a great fit for their public.

2. Practice your pitch.

Fine-tune your elevator speech, but be ready to operate through a number of tailored versions. You’d want to make sure that you’re only sharing information that investors are interested about. No matter how confident you might be at speaking in public, you still want to practice to make sure your pitch flows well before a big presentation.

3. Get feedback.

Run your pitch by other people to make sure you’re getting the message across. If you get the chance to ask someone who is not knowledgeable about your professional project, it will give you the chance to receive a genuine reaction. Allow other people to ask questions before your final pitch to make sure you’ve prepared for blue-sky questions and are ready to improvise if necessary.

4. Assume a positive outcome.

Before you give your pitch, make sure you’re prepared for a “yes”. Your website should be live and bug free, inventory should be ready to fulfil demand, and services such as online payment or shipping sorted out. If you aren’t prepared for the best case scenario, a “yes” can easily turn into a “no”.

5. Follow up.

Your job doesn’t end once your meeting is over. Make sure you’re following up with the right people; reconnecting will make your product remain at the forefront of their minds and provide you with additional wins. This could come in the shape of extra feedback about your product in case a key feature is missing, or some perspective around the investor’s’ interest in your proposal.

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