Contrary to popular belief, a pitch is not a presentation.
A pitch is a clearly defined event that is allocated a fixed amount of time. The audience sits, waiting for the presentation to start at a certain time and end at a specific time. The audience usually does not expect that involvement is necessary.
I have heard thousands of startup proposals. It captivates me help startups succeed, so I would like to share my tips (based on first-hand experiences) on how to improve pitches and make them more attractive to investors. Startups have a limited time to engage their audience, so it's essential to make a persuasive pitch from the start.
Pitching coach or presentation coach?
Most so-called pitch coaches are presentation coaches. Presentation coaching typically focuses on turning your speech into a TED talk or stage performance, with the hope of receiving a standing ovation at the end. TED Talks are based on the framework of classic storytelling, with a beginning, middle, and end. They have the arc of a hero's journey through challenges and tribulations to an eventual victory, triumphing over some evildoer.
But a speech is not a presentation. You don't want your audience to sit still; you want them to lean forward, participate, and ask questions. You want them to be active participants in the conversation, not passive listeners to your story. This is how good investors approach a proposal; They actively participate.
You may only have 60 seconds
Kickoff speeches can last 60 seconds or less, so it's essential to be prepared. Don't be confused by the well-known “launch day” events. Typically, two to four minutes are allowed to present at a pitcj event. However, most of the time when you launch in real life, you're not at the launch day event. Think about it. Every call, Zoom meeting, conference, coffee chat, meeting, blog, and social media post is an introductory event. Maybe you don't have time to design a presentation, or even an elevator pitch. It must be clear, convincing and credible, even in a short period of time. Perhaps then you will be allowed to continue the conversation.
A better metaphor for a course is a tennis match rather than a Ted Talk. You serve with your “wow.” The investor returns the ball over the net saying, "Tell me more!" You talk about your target market. The investor asks about his target clients. He explains your competitive advantage. The investor asks about his intellectual property. Back and forth through the network until he gets to his request and the investor says, "Let me come to our office to talk to my partners."
This applies even if you have more time. The same rules apply when you are invited to a partner meeting at a venture firm. If you don't catch them from the beginning, investors will start checking their emails under the table.
You may have little interaction, but you certainly want the investor to be actively involved. Ideally, you're answering the questions that investors have on their minds. If your speech becomes a one-way presentation and the audience sits back and listens, you've probably lost. They want you to finish it so they can move on to their next meeting. That's not the result you want. Investors are generally impatient. They want to decide on the company as quickly as possible. They will shut you down and discard you if you don't give them a good reason to keep listening.
Investors don't want you to tell a story
That's why many of the techniques presentation coaches recommend are not appropriate for an initial presentation. Contrary to what a presentation coach might tell you, he usually doesn't have time to tell a story when he presents. Furthermore, contrary to what a presentation coach might say, You should not start with “the problem”. And don't start with a joke.
It is generally rude to interrupt a presentation and ask the presenter to go in a different direction. But it is common for an investor to interrupt a speech and ask a direct question.
Be agile and flexible
You must prepare the proposal, this means that you have to be agile and flexible. Rarely will you have the luxury of offering a long, beautifully woven narrative. It would be best if you had a plan to cover everything. You must make each point like a well-placed shot and move on to the next point. In the meantime, you should watch investors to make sure they are committed. Be prepared to respond if they come back with a question, possibly on a different topic.
Please understand this: you are likely to give many presentations during your career, so find a great presentation coach to help you hone your skills. Some of those skills are really valuable in the startup pitching process. But remember, a commencement speech is not a presentation. Figuratively speaking, you should wear your sneakers, not suit shoes.
