As seasoned investors, we’ve seen a lot of pitches. The fastest way to improve is to learn from someone who has been there before, and learned all the hard lessons. This article shares advice on the tricky art of raising startup investment, and how you can improve your skill at it. First up, coaching is reviewed.
There may be several types of coaching and help you can get with your pitching.
Script Writing
You may start out with getting script writing help for getting the right framework for your pitch deck and to start practicing with. Keep in mind that to avoid starting from scratch you may want to consider using a pitch deck template and putting the script in the comment section to kickstart things in high gear.
Public Speaking
Even the best public speaking coaches out there today started out failing horrifically and getting help with public speaking training. It’s a skill you need to learn and develop.
Fundraising Advisors
Fundraising advisors and coaches can specifically help you with everything from your decks to verbal pitches and investor introductions, and bringing it all together.
What To Look For In A Pitch Coach
The most important thing to look for in a pitch coach is results. It’s easy to recruit help to make an attractive website and run some great looking online ads and email blasts. Everyone wants to cash in on the fundraising game and startup ecosystem now.
It is something quite different to find a pitch coach who has actually helped others get real results, and who may have even raised money themselves.
Digging in further, it is great if you can find a pitch coach with specific expertise in your industry, round, type of startup and with the types of investors you are hoping to raise from next.
Some of the things to consider around your pitch are the following.
It’s Not What You Know That Will Bankrupt You
It’s what you don’t know that sabotages you. Especially when it comes to startups and fundraising. You can read all of the tips, guides, podcast transcripts and books on fundraising, but it can still be what you don’t know in practice, and in the current dynamic environment that will derail your hopes. This is the gap a pitch coach can fill.
You Need As Much Feedback As Possible
From product design to sales to fundraising, the more feedback you get the better. This definitely applies to your fundraising. Yet, this critical part of the venture is probably one of the areas where entrepreneurs get the least feedback. You can’t have too much feedback, unless you are just using this as an excuse to stall and not to take action.
Practice For Different Pitching Settings
You need to be ready to pitch in all types of settings from in person private meetings to via online video and standing up in front of others in a formal pitch presentation.
Bring Out The Best Of Your Story
One of the things which even the most intelligent and talented entrepreneurs struggle with is the storytelling. And, the pitch is all about storytelling. It can be hard to craft your own story well as a technical entrepreneur. Leverage your pitch coach to bring out the best of your story and weave it into a smooth flow that converts.
Get Used To What You’ll Face In Real Life
Your pitching experiences are probably not going to go as you expect. You just don’t know what you’ll really face until you’ve been there. Investors will yawn, be playing on their phones, cut you short, seemingly throw unfair questions at you and more. You need to be ready for it and be prepared to take it in your stride, and turn things in your favor the right way.
Nailing The Delivery
The art of pitching isn’t just about having the right words. It also means mastering pauses, timing, body language and the call to action.
Maximizing & Optimizing
Even if you are good, a professional pitch coach can make all the difference between getting some money, and getting the best terms and maximum engagement from the optimal investor partner.
Summary
Pitching is one of the most important and valuable things you can learn and master as an entrepreneur. This is true whether you plan to be a solopreneur indefinitely, and even more so if you want to raise money and scale your startup to be really big and impactful.
There are many, many advantages of getting a pitch coach, and no downside to trying it out.