How many times have you run into someone who asks you a question about your business and you don’t know the answer or if you do, you stumble on it or goof it up altogether? Having a polished business pitch can not only help you sell investors on your small business but it can also help you sell to your business to potential customers, future employees and in some cases, your suppliers or 3rd party partners.
I really love the article from Richard Feloni that shows The 18 Best Shark Tank Pitches Ever. In this article, Feloni cites many of the key small businesses and why the “sharks” invested.
Some of the key elements of a small business pitch are:
- Knows there business inside and out
- Knows there financials – past, present and future projections (all by memory)
- Knows what they need out of this meeting and what they really want
- Can see the “big picture” when presented an opportunity for larger growth aka. doesn’t focus only on what they are initially requesting
- Is passionate about their business and it shows in their presentation
Besides knowing the basics, there are other business pitch components that make these small business owners stand out above the rest:
- They have a story to tell (and can do it in a quick and easy way)
- They can tug at your heart strings. Emotional engagement can make a difference
- They are unique or sell their items in an outlandish way
- They have done their research and know how to sell to their audience
- They represent their brand in the way they dress, act and speak
How are you currently selling your business, product or service? If given the chance, would you be able to sell your business to a “shark”? Can you get great talent to apply at your business vs. the one down the road? Can you talk your way into new business? If you answer no to any of the above, then take a little time to watch some of the sales pitches in action, take a few notes and practice your pitch with your friends, family and then, with complete strangers.
Pitch practice makes perfect!