We recently talked about strategies to make your pitch its best. Now it is time to step up to the major league and tackle Fortune 500 investors.
Keep in mind our previous tips and check out these tips for pitching to Fortune 500 companies from Rawy Iskander of The Tech Entrepreneurship Blog:
- Embrace your size. Turn your small size and startup spirit into an advantage. Show them the values of startups: innovation and speed of execution.
- Address their concerns. Show how you will isolate them from both legal and business risks. It is important to establish credibility early on and to never lose their trust.
- Be patient. It could take several milestones before you receive funds. Of course, it would be ideal to receive a large chunk of investment upfront, but insisting on such conditions may lower your chances of winning the contract.
- Put yourself in an investor’s shoes. Investors are focused on one thing – how your product will better life. If you manage to persuade them that it would better them personally then you will have their attention. This is where you need to focus your sales pitch preparation. Try to understand the company’s top strategic objectives and programs, and anchor tightly into one or more of those touch points.
- Utilize a cheerleader. Your project can get lost in the maze of a big organization unless you establish a strong relationship with someone who is both influential and enthusiastic about your project.
- Keep it simple. Keep your sales pitch simple and to the point, don’t bog investors down with excess information. Emphasize your most important points by incorporating some “Aha” moments and give these moments a second to truly sink in.
- Be confident. Confidence is contagious. Inspire your investors with your own enthusiasm and watch them buy in!
Following these steps and achieving the support of a Fortune 500 can prove to be priceless to your startup. Many investors will be more willing to finance your startup once you have a Fortune 500’s support.
What techniques have you noticed do and don’t work when pitching to Fortune 500 companies?