Pitching to potential investor or customers can be nerve-wracking, and we recommend getting as prepared as you can. Start with these 7 essential tips for making a small business pitch.
Tips for making a small business pitch
- Know your business. You should be able to describe your business model, explain what unique need your small business fills, who your competition is and your marketing and sales plan – to name a few.
- Know your numbers. Have a basic understanding of financial elements like yearly sales (volume and dollar amount), cash flow projection and net worth.
- Research your potential investor or customer. Get to know who you’re pitching to as much as possible, so you can speak accurately to what they’re looking for – and so you know what issues may arise.
- Be concise. You might have five minutes to make a pitch, or you might have 30 seconds. Prepare a few pitches of varying lengths that get the point across and still sound compelling.
- Put yourself in their shoes. If you were being pitched to, what questions would you ask? Make a list of these questions to help you become better prepared.
- Practice! Go through your pitch in front of your business partners, trusted friends or family – or even in front of your mirror. Don’t worry about memorizing your “speech,” but focus on pinpointing strengths or missing pieces. Some cities even have networking groups where entrepreneurs just like you can practice their pitches.
- Act natural! Making pitches is a lot like public speaking, but it doesn’t have to be terrifying. Just be professional, friendly and try to relax!
Want more tips for pitching to investors? Check out the 6 common questions investors ask in a pitch.