The 3 Step Process to Building a Profitable Pitch

As a communications coach, one of the top questions entrepreneurs ask me is how to deliver a winning pitch to potential investors. They want to know if there is a magic formula to make an investor say yes and buy their dream and their business.

While there is no “magic” formula, there is a three-step process for creating a profitable pitch. Before I walk them through it, though—and before I walk you through here—I always give a disclaimer: Not every business is fund-worthy. There are no guarantees. You can have a great pitch and still not get funded, so there’s a little luck and a little alchemy that goes into the end result.

That being said, though, there Is A way to significantly increase your chances of landing your pitch and getting funding. It all boils down to identifying the story you want to tell, creating a script for that story, and then fueling your delivery.

#1: Tell the Right Story

The first step in creating a successful pitch is deciding what story you are telling. It may seem like an obvious move, but a lot of founders are stuck right off the bat because they want to focus on the story of their product or service.

Investors aren’t interested in focusing on products or services during the pitch, though: They want the story of your business. It’s important that you break out of the “tell me about my product” mindset and instead focus on your vision for the company, both in the short and long term.

It may sound counterintuitive, but it actually makes sense. Investors are looking to invest their money in your business. That’s the “product” they want to buy, so that’s what they want to hear. If you want them to subscribe to your SaaS platform or buy your widget, by all means, spend your time talking about your product or service. But, if you want them to buy into your business, make it the focal point of your pitch.

As you think about the story you want to tell, keep in mind that to be effective, your pitch needs to convey a clear vision of your business. You need to take your audience on your journey, and at some point they will be able to see themselves with you on that journey. Your story should make them feel like insiders to your business, and help them visualize your success.

“The purpose of an elevator pitch is to describe a situation or solution that is so compelling that the person you’re with wants to hear more even after the elevator ride is over.” — Seth Godin

#2: Write Script

Once you have a clear idea of ​​the story you want to tell, it’s time to write the script. This is where you really start digging How you tell the story How do you say it so that your vision is crystal clear? As you write the script, think about the words you’re using: what you choose to include or edit is key to emphasizing certain ideas. Seriously, that’s what makes your pitch so powerful.

The key here is to stay really brief. If you can say it in one sentence, do so; Don’t try to use ten sentences to express the same idea. Your pitch should be precise and focused, and it should pack a punch.

Look, I get it, editing can be tricky. It’s tempting to try to tell the investor everything. But, they don’t need to know everything you know, especially when you meet them for the first time. If you don’t take the time to edit, edit, and edit something else, you’ll say a lot. You’ll open things up to interpretation, or even run the risk of sounding like you don’t know what you’re talking about.

On the other hand, being really specific and intentional about your words and what you say will show potential investors that you have real control over your business. They will quickly see that you can communicate your vision effectively, and that you know where you are going. For an investor who is considering handing over large sums of money, this is important.

#3: Get your delivery right

Telling the right story and perfecting your script are key components of the process, but there’s another important step you need to take when you’re preparing to deliver a winning pitch: perfecting your delivery. You need to deliver your pitch with enough conviction and confidence that people will want to write you a big fat check with lots of zeros.

Do not take this step lightly. You can have a great business story, but you won’t get the desired effect from that meeting unless you know how to tell it really well. That’s why practice is so important.

If you start coming off the cuffs while trying to be funny or too personal, it won’t look authentic. It weakens what would otherwise be an incredibly powerful pitch. So, keep it authentic, and make sure you practice enough so that you can make your delivery a success every time.

Keep in mind, as you practice your delivery, you need to pay close attention to how long your pitch takes. If you have a 30-minute meeting with an investor, you shouldn’t pitch them for the full 30 minutes. You should spend 10 minutes pitching, and then the next 20 minutes for Q&A, because that’s where the money is.

Perfect Pitch Gives You More Time

Remember, the purpose of your pitch is strictly to get more time. Most pitches aren’t like what you see on Shark Tank – in the real world, investors aren’t going to pay you money after a 30-minute meeting.

So, keep that in mind, you wish they would give you more time. So, your job is to tell them everything they need to know to help them get to where they are willing to do so.

For investors, time is money, and they’re not going to waste their time or their money if you don’t wow them with a great pitch. But, by following this three-step process — figuring out your story, writing your script, and practicing your delivery so it’s dynamic and natural — the chances are high that you’ll impress your investors so much that they’ll love you and your company. Take a closer look at the business. . And, if they like what they see, they will invest… and the time you spent preparing your profitable pitch will be well worth it.