Pitching: show yourself and your grades
With a good pitch to investors you quickly show your key figures and expose a clever idea of your startup. But ultimately an investor wants to gain confidence, that you as an entrepreneur are the right person to bring your business to great heights. So what do you do?
This is what you should know
“We are number-driven people,” said one of the investors who provides feedback on pitches. For example: How much is your sales and what are the number of users so far?
How much money do you need? Tell concretely what you will do with the investment and remember that the investment question is realistic; many pitchers estimate their capital too low. Obviously, establish a clear revenue model so the investor understands how he can recoup his money within a few years.
Not too much storytelling
During pitches a lot of ‘stories’ are told about the startup. That might be useful to attract attention at the beginning of the pitch, but do not spend too much time with storytelling. Investors have little time. And how beautiful your story might be, they are not always expert in you field; convincing – and help – them with numbers.
A clever idea is nice, but do investors see you as the entrepreneur who will be the most successful pioneer?
“Your story may even incomplete,” says an investor. “With the details we can help you. It’s about you as a person. Share what you have achieved and have fun! We don’t want to see you hesitate.”
Do not be alarmed about the questions
Finally, don’t get nervous if an investor fires a volley of questions. That means he is interested in you.