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Presentations can be nerve-wracking, especially if you don’t do them often. It involves standing in front of others and speaking about a topic, which can be uncomfortable for many. The fear of drawing too much attention and making a mistake can lead to embarrassment. While confidence is crucial, a successful presentation also depends on having well-prepared and organized content.
When it comes to a product pitch, investors are looking for clear and concise details about your product and overall business performance. They expect you to be precise, knowledgeable, and informative within a limited time frame. By focusing on these aspects, you can deliver a compelling and successful produtc pitch.
Below are the 6 tips you need to know to be successful with your next pitch.
Hook them with your idea
Start your pitch by introducing your product or idea in a clear, concise, and exciting way. This opening is key to setting the tone for the rest of your presentation and keeping investors engaged. Try kicking things off with a personal story about how you stumbled upon the problem your product solves. For instance, if you’re pitching a smart water usage app, talk about how you discovered that many homes are using more water than they need.
Keep your introduction short but impactful. Highlight the most important aspects of your idea and how it solves a real problem or meets a need in the market. A strong opening will capture your investors’ attention and make them want to hear the rest of your product pitch.
Share your vision
Next, present your idea or product by sharing your vision for the future. Start by discussing what’s happening in the world and how it relates to your idea. For instance, if you’re pitching a remote work productivity tool, you can talk about the shift to hybrid or remote work models and the challenges that come with staying organized and focused.
Explain the problems people are facing that your product can solve. For example, you might highlight how individuals working from home struggle to balance productivity and distractions. Your tool could help users manage their time better, collaborate efficiently with team members, and maintain a healthy work-life balance.
By connecting your product to current events and trends, you’ll demonstrate its relevance and potential impact, making investors more interested in hearing more about your idea.
Know the market and your competition
Your investors want to know how well you know your industry and your competitors. Every business faces competition. Otto van Bismark once said “Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” What he meant by that is it’s important to be able to identify who your competitors are, and what they are doing differently, so it can help you to make your product stand out in the market.
There are a lot of things you can learn from your competitors such as their marketing and distribution strategies. Investors want to hear that you can identify your competitors and what can you learn from them. Also, research on the competitors can help you to position your product in the market and help you to build strong competitive advantages in the future.
Highlight customer benefits
Customers are the heart of your business, so you need to focus on how your product makes their lives better. First, define your target market—who are the specific people or regions you’re aiming to reach? For instance, if you’re selling a language learning app, your target market might be international travellers or students.
Investors want to know how well you understand your customers. What are their needs and preferences? How does your product cater to those needs? If you’re offering a new workout app, you might talk about how it provides personalized training plans based on users’ goals and fitness levels.
Consider what keeps customers coming back. Maybe your app offers a rewards program for consistent use, or perhaps your customer service is excellent. By answering these questions, you show that you understand your customers’ behaviour and the value your product brings to them. This helps build a strong case for the potential success of your business.
Show how you make money
In this part of your product pitch, explain how you get your product to your customers and generate revenue. Investors want to know about your distribution methods and sales channels. For instance, do you sell your product through an online platform, such as your own website or a marketplace like Amazon? Do you leverage social media or influencers for marketing and sales? Or maybe you use a mix of physical retail locations and delivery services.
Be sure to talk about your revenue streams—how do you price your product or service? For example, you might offer subscription plans, one-time purchases, or freemium models with paid upgrades. It’s also important to be transparent about your expenses and sales revenue. Investors want to understand how much you’re spending on production, marketing, and distribution, as well as how much income you generate. This gives them a sense of how efficient and effective your business model is.
Also read: How Accounts Receivable Affects Your Business Cash Flow
Ask for what you need
Finally, clearly outline what you need from your investors. Be specific about your ask—whether it’s funding, mentorship, or connections. For example, if you need money, state the amount you’re seeking and how you plan to use it. Perhaps you need $250,000 to expand your product line and hire more staff. Explain how this investment will help your business grow and achieve its goals.
If you’re asking for mentorship or networking opportunities, clarify what kind of guidance or connections you’re looking for and how it will benefit your business. For instance, you might ask for introductions to potential partners or advice on scaling your operations.
By being clear and precise about what you need, you show that you have a plan and a vision for your business’s future. This increases your chances of getting the support you’re looking for from investors.
Also read: How to Improve Business Credit Scores: A Guide for Small Business Owners
