Although the coronavirus pandemic is significantly hindering the operation of the economy and certain sectors have faced a greater downturn, there is no stopping in the world of startups, as the internet provides startups with the opportunity to introduce their services to investors through an online pitch.
Get ready, go!
Since proper preparation is the most important element of a presentation, a pitch, like a stage performance, must be practised. A good pitch should include, among others, what problem the product provides a solution to, how it solves the relevant problem, how large the market is in which the company plans to sell, how money can be made with the product, and whether the company already has any tangible results or revenue. But perhaps the most important question is what exactly the startup needs: the investor’s connections, money, or perhaps a highly knowledgeable mentor in the person of the investor?
Prepare your environment
Many people wonder how they can stand out from others with their online pitch. First and foremost, the environment around us must be tidy. It is worth checking the video and audio quality and the internet connection in order to avoid any surprises. The pitch and any other supporting materials should be prepared, so that if they are requested, there is no hesitant waiting.
What online platform should you use during the pitch?
If you would use an application that is completely new on the market and has practically just been launched, it is not necessarily worth basing the online pitch on using it: the investor may not even have heard of it, and in order to join the conversation, they would also have to download it. Naturally, the investor’s time would most likely be taken away from the time allocated to the pitch. It is more useful to use already known and established applications.
The right people in the right place
It is optimal if only a few people from your team take part in the initial video call, even just one or two. With more people, the conversation may become chaotic. If the investor would like to meet the whole team, they will indicate this anyway.
If other team members also take part in the initial video call, it is definitely worth discussing who is responsible for presenting which area. This way, they will not interrupt each other. The goal is for the conversation to proceed smoothly.
Be aware of the downsides of video calls as well
During an online pitch, it is more difficult to build a human connection. Since there is no personal meeting, for two reasons special emphasis should be placed on the so-called small talk before the conversation. First, because etiquette dictates this, and second, because it has never been to anyone’s disadvantage to express how much they appreciate the time devoted to them, however short it may be.
Introduction
At the beginning of the call, it is worth asking the investor a few questions about their investment focus and process. After that, you can move on to the prepared pitch, tailored to the investor’s area of interest. At this point, an overview of the company, its vision and the team can already be shared. However, it is worth doing all this concisely.
Dynamic use of voice
While during an in-person pitch an impressive personality can more easily make its way through, in the case of an online pitch many people, even those blessed with good presentation skills, may fall into the mistake of becoming monotonous. Needless to say, monotony can even ruin the pitch, even if the problem statement and the product as a solution are otherwise brilliant. Speaking while standing can help with this.
Sometimes silence is golden
Since in the online space there are no other senses to rely on, it is essential to enhance listening skills. The investor will ask questions anyway if they do not understand something exactly. It is worth not taking the floor away from them, but waiting until they have said everything that may raise doubts in them.
Goal: a next conversation with the investor
It is worth being aware from the beginning that the investor wants to get to know the person to whom they will entrust money. The investor’s goal is for the team to handle the money entrusted to them as a good steward. In order for this trust to be built, several conversations are necessary.
Maintaining contact with investors and interacting on social media is an excellent opportunity for contact, which can help them get to know the team.