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Presenting Your Business Pitch with Confidence

Posted on by Rick E

Not everyone has what it takes to be an entrepreneur. There’s a wide set of skills and traits you have to possess in order to become an effective business leader. Among those traits is self-confidence, a natural magnet that can draw people to you and make them want to listen to what you have to say. As such, it’s an invaluable skill during a business pitch.

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To entice potential investors, you need to appear and sound confident while pitching your idea. Investors are naturally drawn to leaders with high self-esteem because it signifies strength of character, another trait necessary to lead a business venture forward. As Larina Kase, a psychologist and author, said, “True confidence is not thinking that you’ll get a great result. It’s knowing that you can handle any result.” When the path towards success is dark and murky, confidence can carry a strong business leader through.

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How to Boost Your Confidence for a Business Pitch

There are things you can do to pump up your spirits before facing investors and presenting them your business model. Here are seven of them:

1. Look and sound the part

The thing about confidence is that you don’t need to have it to look the part. You can carry yourself with poise even if you’re feeling intimidated or scared inside. There are a few things you can do to package yourself for success: dressing well, correcting your posture, minding the pacing of your speech, using precise language, and smiling. In other words, by making a conscious effort to look confident, you can make a good impression.

2. Exude conviction from every pore

To sell a business idea, you should be able to show investors how passionate and committed you are. They’ll try to gauge whether you really know what you’re doing, so make sure that you remain composed but enthusiastic throughout your business pitch. Make the investors believe in your potential to succeed. To achieve this effect, you have to communicate a certain aura that tells investors how confident you are about your product. This means avoiding uptalk and articulating a statement with a declarative—not an inquisitive—tone.

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3. Know your key differentiator

To identify your business’s primary selling point, ask yourself what your edge is as opposed to competitors. Why should investors choose you over businesses similar to yours? You must have something unique to offer to make your business pitch stand out. Apart from this, you should also be able to explain what your worth is to investors. How can they benefit from your business? What gains can they expect, and when?

4. Find an external manifestation of success

Perhaps the best way to gain self-confidence is to find an external manifestation of your business’s capability to survive and succeed. It’s easier to sell a business idea if you have something tangible to back it up. An example of an external validation of success is a solid customer base that raves about your product. A sizable social media following that has positive things to say about your company is also a good proof that you’re breaking ground. Determining your niche is crucial during the first stages of business development because if you sell to the wrong customers, your business is bound to flop. On the other hand, with the right audience, you can improve your revenue and boost your credibility, which will ultimately attract investors towards your business.

5. Solve problems before they appear

Amateur entrepreneurs who only want to impress investors often make the mistake of acting like they’re immune to disasters. They’re hiding behind the assumption that their business model is so perfect, it can’t possibly be taken down by any future problem. As a general rule, before you present your business pitch to an investor, you should think through the possible challenges that you may encounter along the way. If possible, look for various solutions for each issue so that if one fails, you’ll have a backup to fall on. Set up contingency plans for when things don’t go as planned. By making sure that you’re prepared for the ugly as well as the good, you’ll be able to present yourself as a competent leader who can weather the storm when the worse comes to the worst.

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6. Rehearse and refine your business pitch

Preparation is key to any speech. As with any other field, achieving a certain level of self-confidence takes time and an immense amount of effort. Research also plays a major role on how competent and confident you will appear in front of a panel. Make sure that your presentation has no loopholes and that everything goes as planned.

7. Worry less and just do your part

Fussing over the aspects of your business pitch that you can’t control will only stress you out. Instead of worrying over the negative aspects of your situation, just focus on the positive. Don’t zero in on your weaknesses as that will only distract and discourage you. Instead, strive to turn your weak spots around and let go of the things you can’t change. Optimism can go a long way in boosting your self-confidence, so try to appreciate the good parts as much as you can.

Above all else, smile even if you don’t feel like it. As Christine Clapp, a public speaking expert at George Washington University, said, “Smiling not only makes your voice more pleasant to listen to; it also conveys confidence…. You will appear friendly, approachable, and composed.” That reason alone should be enough for you to flash a smile during a business pitch.

If you follow the aforementioned tips, you’ll be closer to improving your self-esteem. Just be patient and remember that confidence is built over time. With determination, you can stand in front of a panel of investors and present your business in the best light possible.

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Resources:

Connick, Wendy. “How to Find Your Unique Selling Proposition (USP).” The Balance. June 19, 2017. www.thebalance.com/how-to-find-your-unique-selling-proposition-usp-2917402

Landrum, Sarah. “10 Secrets to Sounding Confident.” Fast Company. July 20, 2015. www.fastcompany.com/3048748/10-secrets-to-sounding-confident

Lobb, Jennifer. “How to Pitch Your Business Like the Pros on Shark Tank.” Nav. December 28, 2016. www.nav.com/blog/how-to-pitch-your-business-like-the-shark-tank-pros-15102

Whitmore, Jacqueline. “9 Ways to Show More Confidence in Business.” Entrepreneur. September 30, 2014. www.entrepreneur.com/article/237634

“How to Give Investors Confidence in Your Business Idea.” Virgin Startup. n.d. www.virginstartup.org/how-to/how-give-investors-confidence-your-business-idea

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Are Mind Games Still the Secret to an Effective Sales Talk?

Posted on by Rick E

If you’ve been in direct sales, then you know what it’s like to: 1) get the initial attention of a potential buyer, 2) maintain said attention on you, 3) promote your product, 4) keep the customer from walking away, 5) end your spiel, 6) somehow manage to induce your prospect to purchase your offer, and 7) thank your buyer and end the transaction. Rinse and repeat. Of course, this may be a gross, basic oversimplification of the whole process, but the main steps are there.

Let’s face it: even if trained salespeople have gone through the cycle hundreds of times, it’s statistically impossible that they have a 100 percent success rate. The next best thing is to reduce the number of naysayers. But how does that work when people are turned off by sales talk? By playing on their psyche.

Let’s be clear: this isn’t manipulating their minds into buying what you’re offering but rather talking to them and making them see the benefits of having your product. For that, you must know what you’re about to go up against.

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Types of Customers

Depending on who you talk to, there are generally four types of customers. Retail expert Rick Segel segregates them as The Director (likes to take charge), The Analytical (analyzes the finer details), The Relater (knows someone from everywhere), and The Socializer (loves to build relationships).

In a HubSpot article, Leslie Ye classifies customers as Assertive, Amiable, Expressive, and Analytic. While there are obvious similarities between Segel’s and Ye’s lists, i.e., Assertive and The Director and Amiable and The Socializer, the difference is that Ye has the Expressive that lean more on how a purchase affects customers and those around them.

With those laid down, how do you sell to them? The following are the bottom lines.

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Appeal to Emotions

Knowing how to deal with diverse customers is the basic of sealing a deal. By pleasing them despite their very different natures, you satisfy a golden rule in sales: making them happier. And that leads to better experiences. Basically, good customer service equals great customer experience.

For your part, flexibility is always welcome. With the multitude of people coming through the door, you’re bound to find yourself in a conversation with your potential client, and you’re expected to be able to cater to their personalities. Got an Assertive type? Cut to the chase, lay the down the facts, and don’t waste their time. Got the Socializer? Then by all means, socialize with them. Engage them in a friendly conversation and build that relationship.

In those ways, you can show them that you’re not taking a one-track-mind approach and considering only the profit of a sale. Make them feel that their trust and loyalty are the best things you can have.

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Appeal to Aspirations

There are people who buy because of impulse, while there are those who carefully plan their expenses. Despite these—or perhaps because of these—sellers often don’t consider the far future and are only concentrated on the moment.

Rather than doing that, though, when you’re having a conversation with your potential buyer, cater to their present needs and show how your product can provide a “better” future. After that, maybe they can present an easier manner of how people around them work or a more efficient way of doing things just because of their simple purchase. By meeting that expectation, you enrich how people view themselves and give them the opportunity to do something good.

This subconscious aspiration to be respected—that sense and level of self-esteem—is always good to enrich because this is one way you get your clients to trust you.

Conclusion

Over the years and after many refinements in the art and techniques of selling, most people have their defenses up. They turn a deaf ear to blatant sales talks and a blind eye to obvious schemes. In short, don’t underestimate your potential clients.

People are more aware of the mind games, so these don’t work anymore. So, what do you do? Be human when you do your sales talk. Instead of putting up a wall between seller and buyer, do your best to connect with your customer. Being honest and genuine are traits most people look for in a relationship, so why don’t you start that chain? You’ve nothing to lose and much more to gain.

Resources:

Corbett, Barr. “The Best Sales Pitch Ever.” Fizzle. November 16. www.fizzle.co/sparkline/the-best-sales-pitch-ever

Dachis, Adam. “How to Plant Ideas in Someone’s Mind.” Lifehacker. October 21, 2014. www.lifehacker.com/5715912/how-to-plant-ideas-in-someones-mind

Segel, Rick. “4 Types of Customers and How to Sell to Each of Them.” Business Know-How. n.d. www.businessknowhow.com/marketing/personalities.htm

Ye, Leslie. “How to Sell to 4 Different Personality Types.” HubSpot. December 13, 2016. blog.hubspot.com/sales/how-to-sell-to-different-personality-types

“Mind Games: Can We Use Psychology to Grow Sales?” Pharmacy Magazine. July 31, 2015. www.frontshop.co.za/mind-games-can-we-use-psychology-to-grow-sales

“The Rule of Esteem – How Praise Releases Energy.” Westside Toastmasters. n.d. www.westsidetoastmasters.com/resources/laws_persuasion/chap12.html

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Successfully Introducing Your Product in a Business Presentation

Posted on by Rick E

When you launch a product for the first time, you’re automatically handed the responsibility of ensuring its success. The audience will look up to you for answers because you’re the expert in that particular setup. You’re expected to know more about your product than anyone else. Rightfully, you are also entitled to feel excited or overwhelmed. After all, you’re handling a do-or-die moment for your brand. The key to conquering this situation, of course, is to win your audience’s favor. Here are some tips to help you do just that.

Show, Don’t Tell

When introducing a new product, it’s not enough to simply tell your customers about it. You need to let them see it with their own eyes and test it with their own hands. Of course, before doing that, you should draw the audience’s attention and interest first. Make them want to experience your product and explore its features. You can do this by creating a point of comparison between your product and that of your competitors. Convince your audience that you are the right choice. Take note that your clients will form their opinion based on what you show them, so give it your best shot when showcasing your brand.

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Build Enough Hype

Market your product without overselling it. You can use all kinds of platforms and outlets to let your target audience know about your business. Expand the reach of your market through print advertising and social media marketing. Give your potential clients something to anticipate. You can go on and highlight your product’s best features, but don’t promise something that you can’t deliver. Ultimately, you want the hype to be real.

Also, it’s important to seamlessly shift your presentation’s focus from the product to the audience. Don’t just proclaim how great your product is. Instead, tell your potential customers how it can make their lives better. That way, they’ll have more reason to look forward to its release.

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Solidify Your Expertise

Credibility is crucial to any brand. When presenting your product for the first time, it’s important to impress as many prospects as possible. To do this, you need to demonstrate how knowledgeable and well-experienced you are in your industry. This is the time for you to flaunt your credentials. What has your business achieved so far? What projects are you working on now? Who are the experts who make up your team? What are your plans for the near future? All of this can give your audience a reason to trust in you and believe in your product.

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Communicate Confidence

In a business presentation, it’s important to communicate just how much you believe in your brand. If you don’t trust your own product, no one else will. Confidence is a magnet that draws people in. Make sure you’re equipped with at least that before you step into the stage.

Your product launch doesn’t have to be overwhelming. You can make it exciting for yourself and your audience if you implement the aforementioned tips. With sufficient preparation, you can deliver a presentation that highlights your new product’s best features and places your brand under the limelight.

Resources:

Bly, Robert W. “How to Convince Customers to Buy from You and Not the Competition.” Entrepreneur. December 15, 2015. www.entrepreneur.com/article/252960

Shope, Kendrick. “How to Sell Something Without Being Sleazy.” Infusionsoft. February 29, 2016. learn.infusionsoft.com/sales/sales-process/how-to-sell-something-without-being-sleazy

Tallent, Barbara. “How to Create a Product Presentation.” Infrasystems. n.d. www.infrasystems.com/product-presentations.html

Watkis, Nicholas. “Is Credibility the Most Important Ingredient for Business Success?” My Customer. November 6, 2012. www.mycustomer.com/experience/loyalty/is-credibility-the-most-important-ingredient-for-business-success

What Makes a Winning Investor Pitch Deck?

Posted on by Rick E

Whether your business is small or multinational, one thing will always be present. Barring the basic constants (employees, profits, losses, gains, etc.), in one way or another, you’ll always find yourself in a meeting room, giving or receiving a pitch. With the former, how well you do could spell the survivability or demise of your startup company or the guarantee of funds for your next big project. It doesn’t need saying, but a pitch is an important step toward success.

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This is why you’ll more likely fret over nailing your pitch the first time rather than wait for a redo. You’ve got the public speaking skill to charm your audiences, but of course, a good support will take you further. That support is your investor pitch deck. You’re already aware of what makes a pitch deck presentation powerful. At this point, what you need to know is what makes your presentation—and by extension, your business—the winning choice.

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Major Paradigm Shift

When technology advances as quickly as one can say “supercalifragilisticexpialidocious,” the world changes as well. Take for instance the evolution of news material from the invention of the printing press to the few short years after online articles became a thing; today, print lags behind digital.

In the same way, figure out what paradigm shift is causing the problem you’re trying to solve. In Andy Raskin’s article, he says Zuora, a software company, has the “greatest sales deck” because they start off framing a change that not only arrests attention but also puts in perspective how the “shift affects [the audience], how it scares them, and where they see opportunities” all at once. During that fleeting moment, you hint where your pitch is going without saying it outright, but just enough to spark curiosity.

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Additionally, doing so nicely sets up the…

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Problem

One thing that pitches always highlight is how a product works vis-à-vis a solution. “My/Our product can do this and that with these features and those upgrades. I/We believe it’s something that can help people.” There’s nothing wrong with that; in fact, it’s basically a must. If you truly think your business is something that can be beneficial to your target market, or even society, then you would spill your heart out on why your interpretation of a solution is better. But a more general question to ask is, “How bad or big is the problem?”

Put as much flair and buildup into the problem you’re trying to solve as much as you do into your solution. This will give your possible investors a glimpse of, if not completely understand, how said challenge affects people on a larger scale, how your product addresses that, and even your motive and drive to continue working on your proposed solution. Doing so will put into context your enthusiasm during your pitch. It will then be more memorable, and they’ll realize you’re the correct choice.

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Data

Before you even started your business, you already researched extensively on your target demographic, logistics, and the many other particulars for your enterprise. Then you release your product, even if it’s an alpha or a beta demo, and gather your results. Keep those numbers and feedback in hand; you’ll need them just as much as the initial research because that’s what you wow your pitch audience with.

Figures give a more concrete achieve and set a more realistic standard than hypotheticals, especially when accompanied by testimonials from customers. Framing and hyping the climax of your pitch is a method of romancing the audience that makes them want more. When you’re done setting up the real numbers for a “hypothetical” product to get their hopes up, that’s when you take them by surprise (but not really, given that you’re pitching something to them) and introduce your…

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Solution

This is the first time they’re hearing about your actual product. All the data and testimonials you’ve thrown to your audience now have something to fall on—a kind of “a name to a face” logic. You already went all-out with your first few slides, so it’s time to let your proposed solution stand on its own. Don’t just focus on the features that people loved; show and tell what sets you apart from your competitors and why investors should pick you.

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Since this is the crux of your pitch, continue with the same level of eagerness you had in the first part as you go for the last stretch. Just because you’re ending doesn’t mean you can let up. If anything, a better conclusion results in a more powerful impact that can guarantee your cashflow and move to a brighter future.

Pitches shouldn’t be necessarily difficult, but when you consider the pressure you feel because of the supposed “life-or-death” outcome of either a small business or a project, the stakes become higher. Don’t let yourself buckle down because of the pressure though. Once you ace this, you’re on your way to more exciting prospects.

Remember what you need to focus on and emphasize on your deck. It’s about your company, your product, and your passion. You may be out looking for funds, but it’s only a step toward your larger goal: solving a problem you know society shouldn’t deal with.

Resources:

Chuang, Alex. “The Quick and Dirty Guide to Creating a Winning Pitch Deck.” Startup Grind. n.d. www.startupgrind.com/blog/the-quick-and-dirty-guide-to-creating-a-winning-pitch-deck

Eckler, Daniel. “How to Design a Pitch Deck: Lessons from a Seasoned Founder.” Medium. n.d. www.medium.com/swlh/how-to-design-a-pitch-deck-lessons-from-a-seasoned-founder-c816d1ae7272

Harroch, Richard. “How to Create a Great Investor Pitch Deck for Startups Seeking Financing.” Forbes. March 4, 2017. www.forbes.com/sites/allbusiness/2017/03/04/how-to-create-a-great-investor-pitch-deck-for-startups-seeking-financing/#db6b7f62003e

Lee, Aaron. “30 Legendary Startup Pitch Decks and What You Can Learn from Them.” Piktochart. n.d. www.piktochart.com/blog/startup-pitch-decks-what-you-can-learn

Lenaerts, Sven. “10 Presentation Design Tips (for the Best Pitch Deck).” Envato Tuts+. May 25, 2016. business.tutsplus.com/tutorials/10-presentation-design-tips-for-the-best-pitch-deck–cms-24860

Raskin, Andy. “The Greatest Sales Deck I’ve Ever Seen.” The Mission. September 15, 2016. www.themission.co/the-greatest-sales-deck-ive-ever-seen-4f4ef3391ba0

Welton, Caysey. “Across Age Groups, Print Lags Far Behind Digital and TV as a News Source.” Folio: Magazine. June 21, 2016. www.foliomag.com/across-age-groups-print-lags-far-behind-digital-and-tv-as-a-news-source

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Creating an Effective Financial Presentation

Posted on by Rick E

At some point in your career, you’ll have to give at least one complex and data-heavy presentation. It’s inevitable for entrepreneurs to venture into the financial side of business and deliver fiscal reports such as those involving business charts that reflect the company’s performance against goals and financial analyses.

But the thing is, financial data can be boring. They may appeal to analytical brains, but what about the rest? In order to hold your audience’s attention, you need to make your financial presentation interesting. Don’t just conduct a data dump. Explain where the figures come from and how they affect your audience. Provide examples as to how those numbers can be relevant in their lives.
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In other words, harness the power of financial storytelling. Present a narrative-driven angle that will give your presentation a new light. Show the numbers but let the story behind them shine through.

Mastering the Art of Financial Storytelling

Financial presentations don’t have to be dull. Here are some tips to successfully deliver an intellectually-stimulating yet engaging presentation.

1. Pattern your presentation after the GPS approach

Organize your facts and figures by planning your presentation. Create a structure so your message will be clear from start to finish. One method you can apply to achieve this is the GPS approach.

First of all, identify who your audience is. What’s the extent of their knowledge and the level of their expertise? Once you know this, you have the starting point. You can then proceed to identifying the goal of the presentation. What would you want the audience to think, feel, understand, or do when you step out of the limelight? What end point are you trying to achieve? This is the destination.

From there, it’s just a matter of choosing the best route. How do you go from Point A to Point B? Outline your main idea first, then follow it up with the supporting ideas. You can create a script to help you with internalizing the flow of the presentation.

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2. Establish credibility from the outset

Since you’ll be presenting critical figures, it’s important to appear trustworthy. Cultivating credibility and cementing a good reputation will make it more likely for your audience to believe in what you’ll say. If necessary, use supporting materials to validate your claims.

3. Outline your goals to build anticipation

If you inform your audience about the goals of your presentation, they’ll be more prepared to process any chunk of data you give them. It helps them to follow along since they already know what to expect and what material you’ll cover. It allows them to focus on the goal and take part in your presentation. 

4. Follow the three-part story structure

When communicating the story behind your data, it’s good to divide your narrative into three parts: the beginning, the middle, and the ending.

Start your presentation by describing things as they are. This is key to creating a bond with your audience. If you tell them something that they already know or can agree with, you ignite a small fire of recognition in them. Naturally, that will make them more interested in your talk.

After establishing the facts, you can show them how things could change. Establish a gap between what is and what could be. Make sure your claims hook and intrigue them enough.

Finally, when concluding your financial presentation, don’t forget to include a call to action. Introduce what presentation expert Nancy Duarte calls the “new bliss,” a state where your audience’s world can be a lot better if they adopt your ideas and follow your suggestions.

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5. Employ visuals instead of spreadsheets

Don’t limit yourself to Excel. Embrace the perks of technology so you can create a financial presentation that drives home with your audience. Present numbers, graphs, and tables using pitch decks.

However, if you really want to take your presentation to the next level, you can ask a presentation design specialist to do the job for you. Let an expert turn your numeric data into graphics and visual images that are equally credible-looking and interesting. Your audience will be able to better make sense of your presentation this way.

6. Use simple and effective design elements

To make your slides more visually appealing without going over the top, use a sans serif font instead of a fancy one. Also, choose a template that isn’t too loud. Observe a good balance of colors to avoid design clutter. If you can, use a color contrast calculator to make sure that the colors in your presentation match. 

7. Reiterate your claims repeatedly

According to the Edelman Trust Barometer, you need to be exposed to a piece of information three to five times for you to absorb it and act on it. Also, you need to hear it from different sources for your brain to validate the information. Repeat your message throughout the presentation, but say it in different ways.

Keep Calm and Speak Like a Pro

With the proper tools and the right techniques, you can be more confident in delivering a good financial presentation. All you need is some storytelling and a few basic design skills. If you prepare well, you can get your message across without losing your audience in the process.

Resources:

Duarte, Nancy. “Structure Your Presentation Like a Story.” Harvard Business Review. October 31, 2012. hbr.org/2012/10/structure-your-presentation-li

Jeavons, Sheri. “Financial Presentations That Won’t Put Your Audience to Sleep.” Sales Gravy. n.d. www.salesgravy.com/sales-articles/presentation-skills/financial-presentations-that-wont-put-your-audience-to-sleep.html

Mogilner, Geoffrey. “Perfecting the Art of Financial Storytelling.” Edelman. February 2, 2015. www.edelman.com/post/perfecting-art-financial-storytelling

Piontek, Katelyn. “7 Ways to Make a Financial Presentation Interesting.” Turbine HQ. September 9, 2014. turbinehq.com/2014/make-a-financial-presentation-interesting

Riggins, Nash. “15 Ways to Create Effective PowerPoint Presentations.” Small Business Trends. July 5, 2016. smallbiztrends.com/2016/07/effective-powerpoint-presentations.html

Sullivan, Sarah. “Financial Presentations That Really Stand Out.” Talisman. October 10, 2016. www.talismansolutions.co.uk/blog/stand-out-financial-presentations

Theriault, Michel. “9 Tips for More Powerful Business Presentations.” Forbes. November 4, 2013. www.forbes.com/sites/allbusiness/2013/11/04/9-tips-for-more-powerful-business-presentations/#55621b7043a0

“Creating Effective Financial PowerPoint Presentations.” 24Point0. January 16, 2014. www.24point0.com/financial-statement-presentation

“Don’t Start by Copying Previous Slides.” Think Outside the Slide. June 24, 2014. www.thinkoutsidetheslide.com/issue-314-june-24-2014

“Edelman Trust Barometer.” Edelman. 2009. www.edelman.com/assets/uploads/2014/01/2009-Trust-Barometer-Executive-Summary.pdf

“Five Tips to Make PowerPoint Business Presentations More Effective.” Think Outside the Slide. n.d. www.thinkoutsidetheslide.com/five-tips-to-make-powerpoint-business-presentations-more-effective

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