One of the best shows on television right now is Shark Tank. The dynamics of the sharks are engaging, but even more captivating are the entrepreneurs and the way they make their pitch to gain funding. Some are entertaining, some are over the top and others stumble. However, there are those few with the right mix of ingredients for a great presentation that grabs the sharks’ attention. Those are the entrepreneurs to pay close attention to, as their effective presentation strategy is what will help you, whether it is pitching investors for funding for your own company or pitching new business leads.
The winning approach includes a demonstration of the following:
- Do the math. If you want someone to invest in your business, you’ll need to be ready to answer these questions: How much will it cost? What will that get me? There is always a bottom line when it comes to business, and it usually revolves around the value proposition offered.
- Dress professional. This really goes without saying, however never go business casual when it comes to meeting with a prospect. Dressing professionally automatically gives the impression that you take your business seriously before any words are spoken.
- Be prepared to overcome objections. This usually arises due to lack of specific details, misinformation or an insufficiency in the proposal. Be ready to be solution- driven in your approach.
- Be ready to walk away gracefully. In the end, your business just might not be a fit, now or ever. No one likes a sore loser, and relationship building is far better for potential referrals somewhere down the line or even re-visiting the business proposal again in the future when the timing is right.
Has there been one approach that has been more effective than another for you? Leave a comment and let us know!