After having participated in three seasons of In the Eye of the Dragon, I am frequently asked what advice I would give to entrepreneurs seeking financing for their project. My answer is very simple: learn to make a good sales pitch that is aimed at investors.eurs.
It is essential to differentiate the sales pitch that we make to a client to sell our product to him from the one that we present to a potential investor to finance our project.et.
In front of an investor, it is your business that you are selling. You have to convince him that with you, and your product, he will make so much money, that it is worth listening to you. What the investor wants to know is that your product cost you, for example, 3 to produce, that you sell it 80 and that you sell 150,000 units per year. And thanks to its funding, you will double or triple your market share. Your investor now understands that he will make money with you. And precisely with you, because it invests in the person, the entrepreneur that you are first.en premier.
However, the majority of entrepreneurs all make the same mistake: they emphasize the merits of the product from the outset. Whether your product smells good, tastes good, is unique, what the investor first needs to hear to embark on your project is that it is profitable. That it will be a hit for him to invest with you.ec vous.
You need to turn on your investor first, then give them time to ask you questions. If he does not ask, it is because he is not sufficiently interested. After piquing your curiosity on the investment side, you can talk about your product. The break you will create is the defining moment of the pitch and it must come within the first five minutes. Get him to ask you questions, whether it's the margin, the product, the profits you make, the valuation of the business, etc., etc.
You wouldn't go to a bar to seduce someone by talking to them about you for an hour without asking them questions, is it your project. You must arrive prepared. We are looking to create a long term business relationship with him.vec lui.
If we summarize the steps, we must therefore: 1. Tell him how much money he will make, 2. Talk to him about the product, and 3. Be interested in him by leading him to ask you questions. And the worst blunder to make would be to approach all that during one hour without interruption, there you would have just lost your investor.eur.
Your customer must convince him that your product is the best in the world and that he absolutely has to buy it and buy it back. You have to sell him your story, your passion for your product, and build a relationship with him too. It is understood that we are not talking about profitability to the customer, at the risk that he will feel exploited. What he wants to know is if he gets his money's worth for the quality of the product, but above all for the service, the experience you offer him. Price takes on a whole new meaning when the customer knows the story behind the creation of the product he is buying, of those who cultivated the raw materials, those who built the business 50 years ago. In addition, I advise business leaders never to abandon sales to deal only with administration. You are the best ambassador for the company, it's your story that people buy.s gens achètent.
In the end, the art of pitch is the art of listening.ter.