…Ladies, here’s a guide to pitching your business anytime, any day!
Maybe you are just doing it all wrong, not that you have run out of luck. There’s more to just ranting about your aspirations and dreams when seeking investors for your business.
About just 3% of women-led enterprises, as compared to over 90% of male-owned businesses received venture capital funding in 2020. Although there is a slight increase in the percentage now, there is no denying that female entrepreneurs are less likely to get their businesses funded. In addition to the investors’ gender bias, which leads them to believe that male-led enterprises are more successful and long-lasting, I have also observed that some women find it difficult to confidently present their company ideas and promote their brands in any situation.
Delivering a compelling pitch demonstrates that you are very much investment ready. Here is some advice for making a great pitch.
Do not Pitch like a “lady”, pitch like an entrepreneur
Lol, before you come for me, read what I mean. Delivering a pitch, whether in a formal or informal setting has nothing to do with your biological or physiological makeup, but has everything to do with your brand, its value, and uniqueness. Study shows that women tend to underrate themselves in pitching competitions and do not trust themselves to deliver. This is called the “confidence gender gap”. This mostly stems from the feeling that as a woman, you are not heard’ Cancel that idea and talk like it’s your business, speaking for itself.
Knowledge and presentation are key. I would want to think that anyone running a business is well-versed in their industry and their specific expertise. You have to show you know what you are saying and avoid babbling. Know your facts and numbers, by heart. Speak confidently and smartly. Pitch not just as a problem identifier, but as a solution provider. Emphasize the value you create.
Avoid all the ‘risk’ talk and discuss promotion strategies
No one wants to continuously hear how you will handle a business downturn or how you will avert a risk. Focusing solely on that kills your chance of getting funding. Focus on the bigger picture and how you plan on achieving set business goals.
Go straight to the point!
Investors are more concerned about the problem your business solves and what they stand to gain from investing, rather than how ‘passionate’ you are about what you do. Avoid beating around the bush. Think of an investment as more of a business deal than a favor. Emotional stories do not move a good number of investors. It gets boring and no one pays attention for that long.
Know who you are pitching to
Some debt investors are looking at what the investment returns are, discuss that! Some angel or equity investors are interested in your business’ CSR activities or the value your business adds or creates. You need to know who you are pitching to and understand what they want and why they may want to invest. You cannot constantly ring in a single lady’s ears, with no child, why and how your diaper brand is better than others, as the main reason to invest in your diaper business. You may not get her full attention, not to talk of her resources, Sis.
Extra Tip: You are not talking about your business enough!
A panel of judges in a pitching competition is not the only people that need to hear about your business. The person you meet at an event, or that one friend may be the investor you have been looking for or the link to one perhaps. Do not hesitate to speak about your business any day, any time. Everywhere you find yourself is your pitching stage.
What are you doing differently when talking about your business or business ideas? How would you respond if you are asked what your business is about? Let me know down in the comment section.