Your business pitch is one of the most important components of your entrepreneurial toolbox. Keep reading to learn how to craft the perfect business pitch, from telling a story to closing in a way that leaves the other person asking for more.
1. Tell a Story
Numbers help persuade but stories grab our attention, and that’s precisely what you need to do when you deliver your business pitch.
Keep in mind a simple principle: Whether it’s Noah building an ark to escape the Great Flood or NASA beating the Soviet Union to the Moon, stories are about human problems and how we overcome them. It’s a familiar, universal, and engaging pattern. Frame your pitch this way and your chances of success will increase dramatically.
2. Focus on a Value Proposition
Your story is what hooks your audience, but your value proposition is what makes them want to do business with you.
Simply put, your value proposition is the value you expect to deliver to your potential customers, the problem you aim to solve. This dovetails nicely with our previous tip because a business idea and a story have an important thing in common: at their core, both contain a problem. What’s the problem at the core of your story? If you are able to answer this question, you have identified your value proposition — don’t be shy about leaning on it as you deliver your pitch.
3. Wow Them
As you near the end of your pitch, you have to deliver a knockout blow. As a business owner, chances are good that you already understand the importance of the wow factor.
When you wow your customers they become loyal to your brand. When you wow your peers you build a solid network of contacts. And you guessed it: when you wow with your business pitch, great opportunities come your way. Some facts you may use to wow potential investors or clients include:
- Technical specs of your product
- The reach and scope of your service
- The size of the untapped market you aim to serve
- The credentials of people who have contributed to your product/service
4. Close With an Offer
Finally, close your business pitch with an offer — the more irresistible the better.
This simple move puts the ball on the other person’s court and forces them to weigh your proposal and give your ideas some serious consideration. If they are wary of giving you an answer immediately (which is understandable), seize the opportunity and exchange contact. This way, even if they end up saying no, you have made a valuable connection that may be useful in the future.