In the film The Founder (2016), Ray Kroc travels from town to town trying to sell a machine that can make six milkshakes at a time. All doors are closed until the McDonald’s brothers trust his product, because it manages to make drinks more efficiently. This was one of the tools that led to the expansion of one of the world’s most famous franchises.
Nowadays it is not necessary to go door-to-door to try to sell an idea or a product. However, you do need to have a good speech or ‘elevator pitch’ so that future investors can see that what you are offering is worth it. In this article we bring together some tips for success when presenting a business idea.
The first step is to portray the project as a story. The way in which we build that story will be key to it succeeding, as this article by the angel investor Dave Bailey explains. According to Bailey, any proposal needs to have a good narrative thread behind it to bring it to life. If when presenting it you include characters or plots that succeed in creating an atmosphere of familiarity for your audience, you are more likely to be convincing. Tyrion Lannister also says the same thing in his last great speech in the series Game of Thrones (2019): “There’s nothing in the world more powerful than a good story. Nothing can stop it.”
It’s also very important to think about who we are addressing. Our project must have a target and a future strategy, which outlines how we are going to attract new customers and how we will keep those who already believe in what we are doing or selling.
After the previous steps and with an investment meeting lined up, we must think about how to present the project. Templates like this one by Google can help to structure the concept with slides. That said, experts advise not to overdo the number of pages. The more polished our idea is, the easier it will be to attract the attention of potential investors.
The template provides a good idea of how can we organise ourselves to introduce the concept. In it we can explain what solutions our startup can bring to the world and why it is worth investing in it.
It is vital to make the potential investor feel important, put them at the centre of things and present why we need their money and how it will be used. Non-verbal communication also plays a key role here – if we come across as confident, receptive and assertive, we can paint a picture of a sure thing.
If the presentation format does not convince you, you can also present it as a canvas, a format created by David Beckett, a key figure in the European entrepreneurial world who has advised more than 800 startups and is the author of books like Pitch to Win. For Beckett, the art of creating a pitch is unique because every person or company does it in a different way and puts their own twist on it – no two will ever be the same.
For an idea to succeed it depends on the content being perfected and it having a strong argument behind it. The startups participating in MAPFRE’s insur_space receive preparation for communicating efficiently, and this also includes the creation of a good pitch. A strong innovation culture is also about effectively expressing and sharing ideas.