Dragon’s Den Australia judge and entrepreneur Sarina Russo has listened to the pitches of many entrepreneurs and invested in those that won her over.
She tells us the 4 things you can do to win over an investor.
1. Ask yourself the right questions
The right questions will enable you to put your finger on some simple truths to form the basis of your pitch.
- What does the investor really want from my business? They want it to work for them and they want good value from their investment
- What do I have to do to give them what they want? Our product/service must be viable, we must make it convenient for them to work with us, it must have values that are superior to our competitors
- What do I have to do to make them want to continue our conversations? You must make their contact with your business an enjoyable experience so a memorable relationship is created
2. Practise, Practise, Practise
I believe in the catchcry ‘repetition is the mother of skill’. If you keep practising your pitch over and over again you will become a master. So make sure the message is always positive and upbeat. The truth about great orators like President Obama is they first started practicing their pitches in front of their bathroom mirror. Now he inspires millions of people across the globe every time he speaks.
3. Convey your ‘Personal Brand’
Anything and everything can be copied and the trend towards sameness has blurred the distinctiveness between products and services. To win any pitch you must give extra value – that extra value is your personal brand. Your personal brand must convey to the investor that they are special, significant, valued and that they are getting a good deal.
4. Enjoy the journey
I think it is really important to enjoy the journey of a pitch. It’s the experience, the people you meet, the challenges ahead of you, the rejections, the barriers, the tries, and the failures as well as the successes. It’s also important to balance your passion, commitment and discipline with a sense of fun. If you do win the pitch you must celebrate. Sometimes (I’m an optimist) I celebrate it in advance because I can already visualise a successful pitch.