While the health crisis continues to have a heavy impact on the economy, it has also had the effect of boosting business start-ups. INSEE has predicted the creation of almost one million new businesses by 2021. These new business owners have decided to carry out the project of a lifetime, but the search for financing is a real obstacle course. Then it’s time to pitch your project to a circle of business angels.
That’s the idea behind Qui veut être mon associé? presented by Xavier Domergue and broadcast on M6. In front of these renowned investors, candidates must present their project and convince them to become partners in exchange for a percentage of their company. If what we see on the show distorts reality a little, these budding entrepreneurs can give you a few tips on how to pitch your project.
Revise your pitch like for an exam
The first impression you give is the most important, so a pitch needs to be prepared in advance, so that you don’t stammer too often or sound too “academic”. As Anthony Bourbon (Feed) recommended to two young entrepreneurs: you have to be natural, authentic, speak as if you were talking to a friend. You can indulge in a bit of humor, but you must always remain professional. And most important of all: you have to pass on your passion and inspire people!
The importance of storytelling
Storytelling is your personal touch, what makes your pitch stand out from the rest. In the first episode of the show, Isabelle Weill points out that a product’s value lies in its history. Even if your project doesn’t have an extraordinary story, the construction of your narrative and the evocation of your personal journey will still make it unique.
And don’t forget the golden rule: there’s a problem, and you’ve found the solution. But don’t be too self-righteous, and don’t act as if your project will eradicate world hunger. You go before an investor to do business first and foremost.
Figures, figures, figures!
It’s all very well if you’ve managed to enchant an investor with your story, but what interests him above all are the figures, the concrete facts. An investor can’t commit if he doesn’t know the broad outlines of your business plan .
Above all, be honest! Partners are not there to judge you, but to give of themselves and their capital to help your company grow. Take, for example, the first contestants in the new season of Who wants to be my partner?They were reprimanded by Éric Larchevêque for not wanting to communicate their margins: “[…] if you don’t want to give your figures and share, I don’t see how we can make a decision…”.
A demo is worth a thousand words
These are surely the parts where our star investors had the most fun. Demos are those times when entrepreneurs present a sample of their product from every angle. The demo can be an opportunity to end your pitch on a lighter note, so consider saving it for the very end. If you do it right from the start, you risk losing the investor’s full attention for the rest of your pitch.
United we stand!
Unless you’re going it alone, it’s a good idea to bring a group for your pitch. This will allow you to approach this moment with a little less pressure, but also to be able to count on your partner in case of a memory lapse or if you’re not prepared to answer on a particular subject.
At the time of the show, two contractors had come without their engineers, which put them in an uncomfortable position as they weren’t specialized in everything to do with hardware.
