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Successfully Pitching Your Business for Funding

Let’s talk about pitching your business, project, or idea for funding: How do you set yourself up for success?

Last week, I was invited to sit on a panel of judges for the #SDG Innovation Challenge 2022. The participants consisted of purpose-driven youth and organisations with pioneering ideas to create solutions to the world’s most pressing issues and ultimately bring change to society.

It was a tight race – the top and second contestants separated by one point 🤯. There was only one award. Faced with a similar predicament, here are 3 top things I would recommend to ensure you are hands-down the winner.

Be as specific as possible

Specificity speaks volumes about your:

1. Passion and interest in the subject/project;
2. Understanding the dynamics of your business;

As you elaborate on your pitch, be sure to have a clear and direct answer to the following:

I am in the business of ….(What field? E.g education) seeking to ….(What mission? e.g. empower, educate, train) ….(Who, e.g. young women between the age of 18-35, living with HIV)….(Where, e.g. in Eastern and Southern Africa)….(Why, e.g. for a purposeful life beyond the diagnosis).

The answer you offer conveys the feasibility and sustainability of your idea/project. Your monitoring and evaluation plan should also be communicated clearly during the pitch. Depending on the timeline, be direct and precise, funnelling your key matters on the vision of your project/program/idea upfront.

The more specific you are in what you intend to deliver, the higher the chance of gaining my trust as a judge/potential funding partner to take a chance on you and your business idea.

Be well-oiled

A well-oiled machine can go the mile without unnecessary stops unless an unintended emergency occurs. In this regard, bring your team with you to the pitching session and allow them to present on the area they’re strong in or in charge of.

I have been part of so many interview panels where the CEO faces the panel to address graphic design and videography issues. If you have a solid team, be sure to include their profiles in the pitch and a one-liner about their strengths/what they handle for the business. If not, you must go back to the drawing board and ensure that your team is well-balanced in expertise, including ‎the preliminary skills needed to ‎get the business going.

You can only go as far as your team, no matter how big your dream is. The judge/ potential funding partner ‎needs to see hope for a future.

Brand strategically, appropriately and unapologetically

I am big on branding! I would like to know who you are, what you do and what defines you right off the bat without you saying a word. This is communicated by your brand name (and logline), logo, brand colours, and fonts. Your social media pages and website should be part of the pitch because, as an investor, I want to be certain that I am investing in a lamp that is out in the world, lighting things up and bringing change, not hidden under a bed somewhere.

You are pitching your ideas because you believe in them and stand by the value it brings, so be bold in how you express them visually and verbally. Confidence (not arrogance) is the goal, friends.

How you speak and deliver your pitch (including responding to questions) will also communicate your mastery of the issue, accruing more trust from judges/potential funding partners.

In the SDG Innovation Challenge, the judges had about 20 minutes to listen to a pitch and make a judgement. So be sure to brand your pitch to draw attention to the essential things first and flow from there. To emphasise your pitch, you may want to provide a summary at the end of your vision, mission, business model, and the expected outcome (s).

There you go, and all the best to those getting ready to pitch your idea and claim your bag 💰. As I said to the participants of the SDG Innovations Challenge, it takes much courage to submit your work for review. When you get the opportunity, make it right.

Thank you to AIESEC Middle East and Africa Region for the opportunity, and I wish the participants of the ‎#SDG Innovation Challenge 2022‎ all the best in their innovation journey!