We are living at a time where startups are playing a crucial role in every country, they are turning into industrial giants that are taking the name of their country further and boosting their economy as well. Now, for any business start-up, the most crucial step is to organize funds so that they can take the business forward.
Arranging for funds, however, can become a nightmare for many entrepreneurs. Being an extremely important part of establishing a successful business, even minor mistakes made, while presenting your idea can lead to the loss of prospective investors and hence hinder the path towards the foundation of a successful business.
This list here comes to your rescue, by putting down mistakes to avoid during pitching. In this article, we will explore some vital points that will help you during the pitching of your business to investors.
If you want someone to invest in your startup the first step is to get to know them well. Do your research before approaching the person or organization. Some mistakes to avoid during pitching to investors for your business. There is no need to get personally close all you need is the small official details about their area of work so that you can use it to your advantage while pitching.
Few points to consider while knowing an investor
Make a note of the different ideas that they have invested in earlier to find out what type of work they prefer to invest in. If you ask a person operating food chains to invest in a software business there are huge chances of you being rejected, so knowing your investment is extremely critical.
2. Work on Your Pitch
A chance to pitch can come up anywhere, a party, elevator, or on public transport. However, in these situations, there isn’t enough time at hand so reduce the length of your pitch. Ideally, try keeping it a minute or two long.
Most people start losing interest after a minute, hence, make the pitch small and effectively highlight all the attractive and remarkable points so that the investor is intrigued in doing business.
3. Focus On Your Presentation
Usually, start-up organizations end up putting all their points and ideas into a presentation hoping that the investor will be impressed, but a presentation filled with too many words will cause more harm than good.
When presenting, keep in mind that your slides only have a gist of the plan of action. It should be short, crisp, and to the point like your pitch. Try to wrap up your presentation in 12 to 15 minutes. Generally, you will get only half an hour with the potential investor including the time for Q&A, therefore, use the time wisely.
Main points to remember while preparing for the presentation
4. Present Your Business Plan
The pitch and presentation won’t be of any use if the business plan is not thoroughly laid out. If the business strategy does not highlight the goals of the start-up along with the expected revenue, size of the target market, and description of the start-up management team, the investors will not be convinced. The important point is to make them realize how strong the business is.
5. Increase Your Investor’s Interest
Every person wants to start a new company to provide people with better facilities and give them something but that’s not how an investor would think. An investor will only agree to fund a business if he is sure of gaining a profit; hence, you need to make sure that you mention your expected monetary gains for the next few years.
6. Make Your Proposal Unique
Sending your proposal to every potential investor through email in the hope of getting a response will not yield any results because investors are swarmed with thousands of proposal mails every day, so the chances of getting a call are very slim. You need to find unique ways of making your proposal stand out so that it can invest your potential investors.
7. Be Humble
When you land an interview, with a potential investor, be humble. Let them ask questions. If any flaws are pointed out in your model or plan, accept them and find ways to improve them. The investors have seen their fair share of business proposals and the advice they give will be beneficial.
Do not be stubborn and keep an open mind while answering. The reason an investor ask questions is that they are interested and wants to make sure that they are putting money in the right place.
8. Avoid Exaggerating
Exaggerating financial gains and lying about them is going to get the proposal rejected instantly. The investor will want to know exactly where and how much money is being spent. If you get caught while lying, it could make a big opportunity slip through your fingers.
9. Do Not Show Desperation
The funds are extremely important for the survival of the business. There might be an urgent need for the funds but showing that desperation to the investor would be a wrong call. Confidence is crucial and you must possess that regarding your business idea as it is very crucial.
10. Do Not Be Overconfident
Even though being confident is good, being over-confident and bragging about the growth and profits of the business will drive the investor away. This will give them the impression that you are not realistic and will get you rejected. Try to be subtle while approaching potential investors.
Conclusion
It’s always challenging to pitch your ideas to Investors as an entrepreneur. Focus on numbers while presenting your story in front of investors. Don’t forget to share the marketing plan. Otherwise, practice your pitch and dress well. Prepare yourself for your next pitch, while keeping the above points in mind.
FAQs
How do we find investors for business?
Look for relatives and friends who are interested in your business, private investors are also there to choose from, crowdfunding platforms can also be used to find investors.
Can we pitch an idea to the company?
Yes, an idea can be pitched to the company but with the proper showcase that fulfills the criteria of that exclusive firm.
How can we convince the investor?
Investors can be convinced in many ways, some of the most common techniques to follow are to have a clear business plan with proper knowledge about its type of audiences, market conditions, and competitors. One also goes ahead with the convincing part by asking for the guide from the investor itself.
How to approach an investor?
Approaching an investor seems bigger task than actually dealing with an investor. One can always take the help of any intermediate party available, or the best approach for an investor is to go with the means of asking for a guide rather than directly coming up with the investing part.
It is not a new fact anymore that the world is staying home. Everything has taken the shape of a work from home model. We all started staying home when forced by the pandemic but now most of us are liking this change. The covid 19 pandemic has led us into rethinking our choices.
We are renegotiating our living, our careers and every factor that leads to a good life. We now include time as an important asset. Many are leaving jobs commitments to shift to less commitment work, or freelancing. You are not bound in time in freelancing.
This change has led to a lot of change, therefore. There has been an increase in the number of freelancers in the world. This is a good thing but it can also be a difficult thing. As a freelancer, you have to find work for yourself, you cannot expect work to come to you.
Only when you are an established person in a domain, will people offer you jobs automatically. You have to pitch yourself to get gigs. This article revolves around pitching and finding a freelance gig. We will discuss how to pitch, write a pitch email, also known as cold emailing, and how to write a cold email.
Freelancing is now probably the most famous job in the world. It is working on a project with no commitments of a normal corporate job. It is portable and can be done from anywhere in the world.
Imagine a freelance writer, he/she can work from anywhere with a computer and an internet connection. Think of a freelance website developer, who is good at developing great websites, he can get a freelance job and after finishing it he is not entailed to more jobs from that employer. So, freelancing is working for someone in short runs of time for which you obviously get paid.
As the pandemic began, the demand for freelancers began too. Everything became remote, and our homes became our workstations, a school and a personal gym. All that transformation led to many changes.
One of the changes was that people started reconsidering their work-life balance. Eventually, people began choosing their careers in the freelance industry. It is not the best option but it gives people the freedom to choose their work timings.
Pitching to Prospective Employers
Imagine someone who is a freelance writer. He is good with words and explanations. He thinks that he should earn something with this skill. At this stage, it is not good to expect someone to offer you a job, without you having gained some experience. So you have to seek a job, a project or something that adds value to you as a writer. This is when pitching comes to mind.
Pitching is seeking work by any means. It can be via an email or a cold call or reaching out to any of the potential employers. As a writer, you would like to work with editors and blog managers. You have to ask them for an opportunity matching your skill sets. This is what pitching is. It is seeking opportunities.
The most common way by which people pitch their ideas is by sending emails to prospective employers. As emails are easier to find online than numbers. It can also be the other way round.
Why do Freelancers Need to Pitch?
Simply because freelancers have to find work. You cannot expect ‘work’ to find you, you have to reach out to prospective or potential employers who can provide you with an opportunity.
As a writer who is freelancing, you’ll need to pitch articles if you want any writing gigs. You could be a significant famous writer but if you don’t find work, work will not find you too. It doesn’t really matter much if your writing or research is strong, you have to seek opportunities to make it work.
When we say seek work, it does not necessarily mean that you have to struggle to get some opportunities. There are fair opportunities out there, you just have to find a place for yourself.
There are many publications out there that don’t have enough resources or budget to hire full-time writers. Publications like these try to have people with short term job roles and they employ part-time writers or freelancers. Organisations like these spread to each and every domain, be it writing, coding, graphic designing etc. In this article we will take the issue of a freelance writing pitch, it is however to be noted that every other field has the same, or almost the same pitching rules and checkpoints.
Let us see how people pitch and how you as a freelancer can pitch for opportunities. There are many checkpoints that you have to keep in check, a few of the most important ones, we are listing them below. Give them a read for better understanding.
Personalisation has a Plus Point (Personalised Emails)
When we talk about personalisation, most people will be scared as hell. We don’t really put in the effort in that domain. An editor or any employer gets thousands of emails every day, what sets you apart from those thousands of anonymous people? This is when personalisation became a necessity. You cannot expect someone to give you an opportunity if you reach out to them very bluntly, speaking only about yourself and your work skills. It does not quite show efforts on your behalf.
What we mean by personalisation is simply that you have done your homework in finding something about the potential client. We are suggesting that you know about the prospective client thoroughly in and out.
It is like creating a world view from their perspective and then writing your pitching email. You have to find out how that client sees the world, what are the things which interest them and what they most want.
Once you develop a theory of their mind maps, it will be easy for you to reach out to that person. It also shows the other (receiver end) person that you have invested some time to investigate and you are really interested in opportunities.
This point also makes it clear that you have to make it clear why you are emailing them. Research shows that people are far more motivated to help others when they feel uniquely qualified to do so. This can be achieved by showing them your place with probably a short story and why you fit where you fit. This will help them understand more precisely what you do and why you should be chosen for work.
Stand with Credibility
When you research someone and find something interesting about them, it is important that you have some credibility. This will help them recognise you in the first instance, which will increase your chances of getting the project.
Remember, when you do some research or investigate the employer, you know about them but they don’t really know about you. They have to get some points which make them believe in you. They have to know who you are and why you should matter to them. This is what is called the “Showing credibility” act. Editors are busy people, and they aren’t willing to spend a long time verifying things.
You need to make it clear that you are credible and they can trust you. There are many ways to do that. You can mention someone you both know, a mutual friend. It is in fact by far the best way to start a stranger conversation.
You mention someone directly who is common in each other’s network. Even when you mention someone who is mutual, it entails that both of you are not strangers anymore. The point is to figure out some common relations/ thoughts/ goals so that you become less of a stranger to prospective clients. This is good to start a conversation from zero. This will make you a little more important than a stranger. The more important you are, the more you will have the chance to get a reply.
Provide them with Something they want
This is a very basic thing to know. There is no free lunch. It is a question on why the recipient should care about your email. Why does this person take his busy time out to read and respond to your email? You have to make sure that you are adding the value of some sort.
It is important because if you are adding value, only then there is some chance to get a response, otherwise not. If you cannot add value, then you should probably refrain from sending any pitching emails as it will degrade your views in front of the employer.
Once you are clear of the fact that you are here to add value, begin at once. Knowing your value will also help you to reach a certain level of respect for the work that you do. If you are of some value, show that. Show that explicitly. It will help the employer to judge you on the basis of your value addition to the organisation which is the best measure.
Keep it Concise and Actionable
As a freelancer, all you are doing is simply increasing the response rate of an email that you type with all the good words you know. It is very crucial then, that your email is small, concise and quite actionable.
Just make sure you are clear and actionable. You call someone out on an email and then you ask them for an opportunity. This is a great thing, asking for help in real life is amazing and in fact, you are giving them the chance to feel good about themselves.
Now when they see your email and they know what you are asking about, that means you are clear enough. Then, it becomes easy for them to take action and all the resistance in between seems small. Your email should also be small. This is very important as a small email has a better chance of being read, than a very long email.
No one has the time or a big enough attention span to look through your thesis on why you should be given an opportunity. So keep it short and increase your chances of being seen and read. This also is to be noted that if you are counting your words, make every word counted. Precise does not mean a small paragraph but it means a clear and to the point reply.
Vulnerability and Appreciation
You are emailing some random dude who you don’t know and you are emailing that someone for a favour. This is hard to grasp. Don’t make it a hard thing for the receiver, a hard thing to grasp. Make it clear and show some vulnerability.
When I say vulnerability, it does not mean to shed all your weapons and appear like a kitty. Rather be mindful and appreciate the fact that they will help you out. That can be packaged in a form of gratitude but it is the same thing.
Respect them with a little power and status and hope that they will return the same favour to you. When writing to a prospective client, you can use phrases like “Thank you so much” or “I am really grateful” to sound grateful. This will increase the chances of getting a response.
You can also add that they can choose to reply at their own pace or they can ignore the request. This will make them more obliged to answer your email. Simple, simple things but can add layers of protection.
Things You Should Know Before Pitching as a Freelancer
Research before you pitch
It is important that you target your pitches and you research about them, not researching to write an autobiography on them but to make sure that you know them thoroughly. This will help in a more tailor-made approach. Also, make sure that the people/organisation to who you are pitching lies in your skillets.
The topic of your article/email should relent to the prospective clients. It should be within the style of content that they produce. If you are a writer, know their publishing domains. Then match the pitch accordingly. This will help you as well as them to sort pitches and pick prospective clients.
Think about your specialisation and pitch people according to that domain. Know that the world always respects specialisation and you can benefit from your domain. If you have experience in one specific domain then it can be largely used to pick the next pitch and next project.
Demonstrate your Skills
Show your writing skills and prove that you are worthy but don’t be too wordy. Yeah just like the Marvel movie ‘Thor’. You have to prove that you are worthy and only then do things become easy and worthwhile.
If you have prior experience, show that, showcase that experience explicitly and properly. It will explain your exposure and will make you stand a better chance of getting selected. Make sure you are not too overconfident. Make it subtle, the employer is not here to read all your victories. He just wants to get his/her work done.
Avoid Templates
There is one more thing that is silent in pitching. That is, you dare not use a template. You can google cold email templates and you will find hundreds and thousands of them but that does not set you apart.
The world is filled with templates, what it needs is a trailblazer and a person with courage. Have some bravery and carve your own template, this really shows the other person that you have the nerve. Moreover, it is impossible to personalise a template according to your target client. It is hard because it has already been set with some general idea of a pitching letter.
Proofread and make sure that you don’t comment on any grammatical problems. It is a huge red flag. If you’re applying for a writing pitch, a grammatical error can literally end the whole hope for you. Make sure that you are clear and clean of errors.
Respect the other person
You are pitching an idea and asking for a favour from a random dude. You don’t know the person, you only know the email address. That person has no reason to take you seriously. He can just delete or ignore your hard work of writing a pitch. Give them a reason to take yourself seriously. It is like meeting some stranger in real life.
You start by introducing yourself and then you appreciate what they want to say and have. That is how you build a relationship with literally anyone, this is almost the same scene here.
You write an email with an introduction, you mention some point of contact or mutual person and you go on to build a professional relationship by appreciating what the other person is saying. Simple and straightforward.
Follow up
This may sound simple but most figure this out very late. If you are applying somewhere, remember to take a follow up after some time. Employers and clients are humans too and they can also be left behind with the pressure of work.
Don’t take it too soon or too late. If the client hasn’t replied for two weeks, then take a follow-up. Check by asking if they have had the chance to read your pitch email. Even then, if you don’t get a reply, then you can safely assume that your pitch is lost somewhere in translation and others. Have patience but take proper follow-ups. The time of both parties is important.
Embrace failure
It is not that you will not get selected anywhere and it is the end of the world but embraces trying and work. Even if your pitch is not accepted, be grateful and work on the next pitch with perseverance. There is no failure, only lessons in disguise.
Conclusion
In the above article, we discussed the art of pitching. Obviously, there can exist more than one way of pitching to your favourite workplace. Keep in mind your perspective, the industry and the recipient.
We went from explaining what a pitch is and why it is important. To a more comprehensive approach to writing a perfect pitch. It is always important to take care of what you write on that email/any other means of seeking.
Your pitch should sound interesting — if your hook piques the editor’s interest, they know it will pique their audience’s interest, too. If you’ve ever written for the publication before, Showcase those writing skills and explain why you’re a good fit. It is important to provide some common touchpoints.
Once you and the prospective client are on the same ground, it becomes easier to negotiate. It is however important that you should be able to add value with your skill sets. Developing a rapport with prospective strangers and showcasing value addition becomes the recipe for a perfect pitch.
FAQ
What is considered a successful pitch?
A successful pitch is when you hook the editor in the first few seconds and get your points across.
How do you start writing a pitch?
Research about the company or publication, Write an appealing subject line for your email pitch, Explain how are you different from others and why should the publication publish your story.
This article is contributed by Mr. Abdul Nasir Shaikh, CEO, Lexicon Group of Institutes & Multifit.
Networking is one of the most important things one needs to do to further their career. It gives out opportunities that one cannot find on their own. Through the help of proper networking, one gets to explore other fields and get noticed by the people that will benefit them.
Today, the notion of branding can indeed be implemented on an individualistic level. You can create a picture that will help you stand out online and reach a wider audience.
Every time we talk about personal branding, LinkedIn pops up in our minds. It emerges over the course of our daily discussions about brand management and novel media advertising. In fact, whenever someone is asked to help individuals and startups with personal branding, LinkedIn is bound to be brought up. In this article, we will talk about how we can use LinkedIn for personal branding. So let’s get started.
LinkedIn is one of the most effective business networking tools out there, if not the most. LinkedIn is definitely the best place to increase your network whether it’s for your business or as an individual.
Everything and anything that propels your personal branding and ascension lives and thrives on the network. It’s the digital meeting place for meeting people, accumulating knowledge, and forming and growing business connections.
Steps to Leverage LinkedIn for Personal Branding
LinkedIn can be your ticket to accelerate your career to a whole different level for that you need to follow some important steps and they are down below:
Make your Profile Stand Out
If you sprint through the process of making a profile, you’ll be shooting yourself in the foot. Your profile will be observed and analysed more often than on other social media platforms. Since personal branding is so important in the LinkedIn environment, you’re given a massive and dynamic canvas to portray a picture of yourself on. Delve deeper, put hard work as well as creativity into jamming your public profile from head to toe.
Think of LinkedIn as a Live Profile
Keep your profile updated. Whenever you make any career move, take a new course, learn anything new or publish a new article, everything should go on there. You cannot afford to set your profile and then forget about it. Treat it as a live resume, describing you in a professional as well as in a personal way.
Publish Articles for LinkedIn
There is more than one way of writing for LinkedIn. You can, of course, write exclusively for the platform and reach several people in doing so. You can also publish an excerpt of an article on your own blog and move your LinkedIn audience to read more on your site, creating traffic for your page. The benefit of publishing your work on LinkedIn is that every time you post, your connections get notified, generating a bigger audience.
Strategically Choose your Skills
You can mention up to 50 skills on your profile, be sure to use relevant skills to target your potential clients or employers. Strategize and add skills that work for you in creating a good impression. Remember to stay authentic!
Engage Meaningfully
Take the time to interact with posts on your feed by liking, sharing, and commenting frequently. You must build a relationship with your connections over time so if you want to work with someone in the future, they recognise you as someone they have interacted with, giving you a real presence online.
Optimize your Profile
As said earlier, LinkedIn is a search engine of sorts along with being a social networking site. The words you use matter a great deal. Use keywords for your headline, job descriptions, summary, etc. The right words can go a long way.
Build your Knowledge
Learning should never stop. Keep taking up new things, learning new skills, embarking on adventures of your own, to not only make your profile look better but also to help you grow into a richer human being.
There is another thing that can be discovered over the years, which is individuals on LinkedIn either recognize what they really want to accomplish through the platform or don’t understand what they want to accomplish at all.
While it may appear that those who understand what they want to accomplish will be more successful on LinkedIn, it’s not always the case. As a result, they operate with the wrong mindset, focusing on how many direct leads or sales they can generate.
However, LinkedIn is not really a place for people who would like to constantly hear sales pitches. It is a place for people to collaborate with other people who provide the relevant content or whose stories strike a chord with them.
LinkedIn is one of the easiest platforms to use and has more than 500 million users worldwide! While until recently, your LinkedIn profile was simply for job purposes, many professionals are now starting to emerge as leaders in their sectors and are using LinkedIn as part of that strategy.
Embrace how LinkedIn can be used to build your personal brand beyond just a place to keep up with who has employed you. Start by developing yourself, get better and stronger with personal branding and you will have the best chances of having a successful career.
In this platform, the more one will reveal about themselves, the more people will gravitate towards them.
FAQ
How should you use LinkedIn to promote your brand?
Invite your connection to follow your company page, promote your company using emails and blog posts, and optimize your page search.
Do you think personal branding is important in landing your dream job?
Yes, personal branding is really important for landing a dream job as it will help you to get in front of employers.
How do you market on LinkedIn 2022?
Publish articles on LinkedIn, Make your profile stand out, Optimize your profile, and mention your skills.
