Gargi Banerjee
As an entrepreneur, you have to wear many hats. It comes with the territory. One of the focus areas for the growth of your business is selling your idea to customers and potential investors. As the founder of your start-up, one of the skills you must acquire is the ability to make an effective presentation to the many stakeholders of your business.
Mastering the art of making an impactful presentation may take a few years but as the founder of a new venture speaking to a room full of potential customers or investors, you must follow etiquette. Here are some pointers when heading out to make your first few presentations.
1. Be upfront and explain your purpose
Whether pitching to customers or investors, open your presentation by stating clearly who you are. But keep your introduction pithy. To grab the attention of your audience, begin by explaining how your product or service addresses the possible concerns of your customers. It's all about aiming for their 'pain-point'. Your audience should be convinced you're offering a solution rather than forcing something upon them.
If you're making a pitch to potential investors, make sure it focuses on what you intend to do, your plan to implement it, how you intend to make money from your business and, finally, the scale of your aspiration. Prajakt Raut, entrepreneur and entrepreneurship evangelist, who helps founders develop sharper business plans, says, "A concept and product is different than the business case for the same, and it is the business case that investors are interested in. Most first-time entrepreneurs mistake the concept for the business."
Take, for instance, a founder presenting the case for an e-tail venture. An investor in such a business will be interested to know about his plans for procurement, warehousing, supply-chain management and customer acquisition. Raut points to another common mistake -- quoting inane industry figures such as, "According to XYZ consulting firm, the market is $ 8 billion globally." He says, more often than not, such macroeconomic figures are a poor representation of the opportunities you are planning to address. Instead, focus on numbers that tell your investors what your plans are for business growth over the next few quarters.
2. Keep it short and interesting
If you're using a power-point presentation, make it interesting. But interesting doesn't mean flashy. Also, it should be clean and well-structured. Make sure you're not verbose, which means each slide should not contain more than 10-15 words. Use numbers that are relevant to your business plan and avoid generic numbers as far as possible.
Ashwin Palkar, Founder and Director at Mumbai-based designer apparel outfit I Wear Me Fashions, advises, "Never ever look at your slides and read out their contents! That's not making a presentation at all." Palkar points out that slides are only pointers to what you are talking about. So it is important to concentrate on what you are going to say. "Speak from personal experiences and narrate stories around what you have included in the slides. However, keep it short and in context," he says.
Another pointer to making a presentation is to have only one person doing the talking. If the co-founders are attending an investor meet together, one person should handle the slides while the other should speak. Taking turns to speak is not a good idea as it dilutes the attention of your audience. However, the person handling the slides should be part of the post-presentation discussion.
3. Clarity, commitment and expectations – let them show
Keep in mind that if potential investors have invited you for a meeting, they have come with an open mind and are willing to give you a hearing. It is therefore up to you to demonstrate your commitment. Do not pretend to be a stand-up comic to get some laughs or pull off an attention-grabbing stunt while making a presentation. Instead, be truthful, honest and convince your investors you are here to stay. When making a presentation to potential investors, it obviously boils down to the money. This is another area where you need to make your expectations known. "Do not beat around the bush and tell the investors how much money you need and the milestones you can achieve if you get the money," advises Raut.
4. Prepare for the post-presentation
Once the big presentation is over, your job is far from done. Bear in mind that there will be questions that will have to be answered after your presentation. Anticipate these questions during your preparation and have all the supportive data, research, survey results handy, so that you can field all sorts of questions without faltering. If two of you are making a presentation together, make sure you are on the same page and answer each of the questions with conviction. Investors will always want to see if you and your co-founder are compatible in your business partnership. If you are ill-prepared for this stage, it will likely eclipse even a great presentation.
At the end of the day, you must remember that it is all about telling your investors you value the time and attention they are investing in you. Using the right body language, attitude and doing your homework before you make your pitch will put you in a vantage position. If you remain focused on providing value to your audience, there is no reason you cannot walk away from a group of investors that is very impressed!
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