The 3 crucial steps to building a perfect startup pitch

As a communication coach, one of many high questions entrepreneurs ask me is how to ship a successful pitch to potential traders. They need to know if there’s a magic system to get an investor to say sure and purchase into their dream and their enterprise.

Whereas there isn’t a “magic” system, there’s a three-step course of to building a worthwhile pitch. Earlier than I stroll them via it, although—and earlier than I stroll you thru it right here—I at all times give a disclaimer: not each enterprise is fundable. There are not any ensures. You may have a sensible pitch and nonetheless not get funded, so there’s a little bit of luck and a little bit of alchemy that goes into the ultimate consequence.

That being mentioned, although, there is a method to considerably enhance your possibilities of touchdown your pitch and getting funding. All of it boils down to figuring out the story you need to inform, creating a script for that story, after which nailing your supply.

1) Inform the Proper Story

The first step in creating a profitable pitch is deciding what story you’re telling. This will look like an apparent step, however a lot of founders get tripped up proper off the bat as a result of they need to concentrate on the story of their services or products. 

Buyers aren’t thinking about specializing in services or products in the course of the pitch, although: they need the story of your online business. It’s important you get out of the “tell-them-all-about-my-product” mindset and as a substitute focus in your imaginative and prescient for the corporate, each within the brief and the long run.

This may appear counterintuitive, however the truth is, it is sensible. Buyers are trying to put their cash into your online business. That’s the “product” they’re trying to purchase, in order that’s what they need to hear about. If you’d like them to develop into a subscriber to your SaaS platform or purchase your widget, then by all means, spend your time speaking about your services or products. However, if you’d like them to purchase into your online business, make that the focus of your pitch.

As you concentrate on the story you need to inform, take into account that to be efficient, your pitch wants to convey your clear imaginative and prescient about your online business. You want to take your viewers in your journey, and in some unspecified time in the future they should be ready to see themselves on that journey with you. Your story should make them really feel like insiders to your online business, and assist them envision your success as their very own.

2) Write the Script

After getting a clear concept of the story you need to inform, it’s time to write the script. That is the place you actually begin to dig into how you inform the story. How do you phrase it so your imaginative and prescient is crystal clear? As you write the script, take into consideration the phrases you’re utilizing: what you select to embody or edit out is vital to emphasizing sure concepts. In reality, it’s what makes your pitch so highly effective.

The key right here is to keep actually concise. For those who can say it in a single sentence, then do this; don’t attempt to use ten sentences to convey the identical concept. Your pitch ought to be exact and centered, and it ought to pack a punch.

Look, I get it: modifying will be troublesome. It’s tempting to attempt to inform the investor the whole lot. However, they don’t want to know the whole lot you already know, particularly the primary time you meet them. For those who don’t take the time to edit, edit, and edit some extra, you’ll find yourself saying an excessive amount of. You’ll open issues up to interpretation, and even run the chance of sounding such as you don’t know what you’re speaking about.

However, being actually particular and intentional about your phrases and what you say will present potential traders you’ve gotten a actual deal with on your online business. They are going to rapidly see which you could talk your imaginative and prescient successfully, and that you already know precisely the place you’re going. For an investor who’s contemplating handing over giant sums of cash, that’s crucial.

3) Perfect Your Supply

Telling the fitting story and perfecting your script are key parts of the method, however there’s another vital step you want to take while you’re getting ready to ship a successful pitch: perfecting your supply. You want to ship your pitch with sufficient conviction and confidence that individuals will need to write you a massive fats verify with a lot of zeros.

Don’t take this step without any consideration. You will have a nice enterprise story, however until you understand how to inform it rather well, you received’t get the specified impact from that assembly. That’s why observe is so vital. 

For those who begin going off the cuff, attempting to be humorous or too private, it received’t really feel genuine. It undermines what would in any other case be an extremely highly effective pitch. So, maintain it genuine, and be sure you observe sufficient which you could nail your supply each time.

Consider, as you observe your supply, that you just want to pay shut consideration to how lengthy your pitch takes. When you have a 30-minute assembly with an investor, you shouldn’t pitch them for all the half-hour. It is best to spend 10 minutes pitching, after which take the subsequent 20 minutes for Q&A, as a result of that’s the place the cash is.

The Perfect Pitch Will get You Extra Time

Bear in mind, the aim of your pitch is strictly to get extra time. Most pitches aren’t like what you see on Shark Tank—in the true world, traders aren’t going to offer you cash after a 30-minute assembly.

So, maintain that in thoughts:, you simply need them to offer you extra time. So, your job is to inform them no matter they want to know to assist them get to a place the place they’re keen to do this. 

For traders, time is cash, they usually aren’t going to waste their time or their cash in case you don’t wow them with a nice pitch. However, by following this three-step course of—determining your story, writing your script, and working towards your supply so it’s dynamic and pure—chances are high excessive you’ll impress your traders sufficient that they take a nearer have a look at you and your online business. And, in the event that they like what they see, they’ll make investments…and the time you spent getting ready your worthwhile pitch may have been effectively price it.


Monique Maley is CEO and founding father of (*3*), a management and presentation growth consultancy centered on cultivating influential and persuasive leaders via communication. A serial  entrepreneur and angel investor, she  can be a classically-trained actor. She leverages her actor’s toolkit and entrepreneurial expertise to mentor leaders with an strategy that emphasizes adaptability, impactful communication, and reference to others.