As any budding entrepreneur will tell you – it is not easy to pitch your ideas in front of a room full of investors. You might be extremely sure about your idea and have a great pitch ready to be delivered. Yet, things end up going south at times, and you start realizing that your seemingly amazing pitch is now a train wreck. Instead of giving up completely at this point, the key to success is to look for ways to salvage the situation. Here are the eight tips to help you in that regard.
1. Ask the participants whether they’ve questions
You need to invite more participation from the investors. So, stop and take a deep breath. You can take one sip of water and then ask them if they have questions. Also, you should encourage the investors to offer their honest feedback. It will help you know whether they have any issue with the item or the sales pitch you delivered. They will feel more connected to you when they can offer the inputs that you value.
2. Focus on outlier information or key metrics
Pay attention to outlier information or key metrics to make the platform stand apart. Your investors will always try to poke more and more holes in the presentations. However, you need to present such crucial information that is able to leave a strong impression for fruitful conversations post-meeting.
3. Bring the pitch back to answering the ‘why’
If you feel that your investor pitch is going downhill, start focusing on answering the ‘why.’ Why would the investors feel interested in making that deal with you? Why is your product unique and how does it benefit the other parties? At the end of the day, your investors want to know what’s in it for them in that deal. So, turn the tide in your favor by focusing on these points.
4. Follow clear patterns in the investor pitch
There has to be a definite pattern in your pitch – the issue, the way to solve it, the financial aspect, and the growth ideas. You can practice this pitch a number of times before your friends. Even if it goes sideways, stick to the passion you have for the product because that shows your level of commitment. Your investors will note your body language. So, remain confident even when you end up saying something wrong.
5. Rescue the pitch by paying attention to the chief questions
You need to end the pitch successfully by taking a deep breath and focusing on the chief question: what message are you trying to convey? What do you plan to attain by conveying this message? You need to put yourself in their shoes by considering what their motivations and interests are. You can then adjust everything as needed.
6. Ask the investors for advice to save your investor pitch
If your investor pitch goes sideways, a viable way to turn things around is to let them give you the advice. It shows that you’re open to constructive feedback and you want what is the best for both the investor and you.
7. Let them know why they need their investment
If the pitch is not going as smoothly as you expected, you might not be able to salvage it straight away. What you can do is get their attention focused on your needs by discussing why you need their investment and the things it can do for your product. Let them know about your motives and the reasons to get them involved.
8. Transition to a nice coffee break to save yourself
When a pitch starts going sideways, it will not take you too long to understand it. The moment you start sensing this, reach a stopping point in your pitch and ask if they want to grab a cup of coffee before resuming. Going from a professional pitch to a nice coffee break lends a more casual tone to the conversations. It helps you in building rapport with the investors, which can help in ultimately closing the deal.
How well you salvage the situation also shows your presence of mind and confidence in stressful conditions. Your investors will definitely appreciate this quality about you.