5 entrepreneurs’ best advice to pitch and win
Whether you're raising capital through lending, grants, or crowdfunding, every investor will want to know: why you? Selling yourself and your business through pitching is a very important skill to have as an entrepreneur looking to grow. That's why we asked five experienced Collective members for their best advice on pitching (and winning!).
Go after the grants that fit your immediate needs. It is important to be intentional with what you are seeking. What is it that you need right now that could alleviate some stress/responsibility? It could be purchasing printing ink, a new business vehicle, or human capital. It helps to write or map out your end goal and think about the small steps that will help you get to where you need to be.
Practice like you mean it every time with your mentors and advisors. Get feedback and refine the pitch. Put yourself out there and do pitch competitions because you’ll learn from your mistakes and get better quickly. And always remember to put on a show! Smile and have a lot of energy.
Tell an authentic story of your "why" and make the judges believe there is no team better to solve this problem than yours. Answer the question, “Why are you uniquely positioned to be successful in your space or market at this moment?”
Clearly describe why you need funds and what you will use them for. Understand the run-rate of current funds and funding requests. How long will the funding you requested last – and what happens next?
I didn't do it on my own. I had probably three or four trusted people that I shared my pitch with beforehand, and each one saw something different that I could adjust. And each of those things made my pitch so much stronger. Getting feedback from people who have different perspectives and will be honest and transparent will make all the difference.