Everyone knows Lori Greiner as an investor on Shark Tank and the “Queen of QVC”. She owns more than 120 U.S. and International patents, and has created over 400 different products. She has worked with some of the most successful brands taking them from a logo design to multimillion dollar enterprises. As a high profile American investor, she has seen hundreds of pitches and she has been giving pitches herself since 1977. We’ve got five tips from her new book “Invent It, Sell It, Bank It!” that will help you give the perfect pitch.
Know all the facts about your business inside and out. Get ready for an in-depth line of questioning. When you do not know the answer to something, just admit it. Being able to readily recite your company’s numbers will impress your audience.
“You need to be accountable for and aware of every unit in the warehouse, every number on the books, every order coming in,” writes Greiner.
You should be able to describe what your business does in less than two or three sentences. You only get a couple of seconds to grab an investors attention. Keep it short and sweet, or they will quickly lose interest.
Investors look for people who are passionate and excited about their business. Make sure you let your enthusiasm show. Your confidence and energy will get your audience fired-up too!
You should know your pitch like the back of your hand. Your audience will be evaluating your sales skills. If your performance is less than flawless, it may give potential investors cause to think twice.
Make sure you listen when you audience ask you questions and avoid being defensive. Your potential investors will want to know that you are easy to work with. Stand up for yourself when you need to because they will not want to work with a pushover either.