Entrepreneur Voices on Elevator Pitches by The Staff of Entrepreneur Media Inc

Author:The Staff of Entrepreneur Media, Inc.
Language: eng
Format: epub
Publisher: Entrepreneur Press
Published: 2019-03-19T16:00:00+00:00

11. Practice Your Pitch

And then practice it again. And again.

12. Anticipate Questions, and Answer Them Ahead of Time

If an investor is interested, he or she will ask more questions. Be ready for these questions. By formulating skillful and persuasive answers to the tough questions, you will demonstrate the panoply of abilities and traits that investors love to see.

13. Show Them the Exit

Here’s the clincher on a killer pitch: an exit strategy. Starstruck startups usually overlook this critical component when they’re pitching. They’re so sold on their sexy product that they cannot conceive that there will ever be an exit.

Every investor wants to make a lot of money in a short amount of time. What is a short amount of time? A five-year benchmark is a safe time frame. Your plan and pitch, then, should explicitly answer the investor’s unstated question: How will this make me a lot of money in five years?

The answer is your exit strategy. Is it an IPO? An acquisition? Licensing? To answer sales revenue or valuation is to shipwreck your plan from the startup. Investors want big payoffs, not marginal returns. They want to retire comfortably on a big yacht, not just get their money back in a little equity package.

The goal of a successful pitch is to have investors begging to invest in your company. Sure, that sounds too good to be true, but it is possible.

When you successfully deliver on what an investor wants, you will have a truly irresistible pitch.

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