You’ve just nailed your pitch, you answered every question that was thrown at you, and you’re feeling on top of the world. Job done. Right?
Potential investors meet hundreds of entrepreneurs just like you. So how do you make sure you stand out?
You send them a follow-up email.
It might seem small, but a short follow-up email can do an awful lot of heavy lifting.
Not only is it polite to thank an investor for their time, but it’s also important to stay fresh in their minds. Remind them of your business proposition, send over a copy of your pitch deck and take the opportunity to answer any outstanding questions – perhaps they asked how many followers you have and you didn’t have the exact statistic to hand, but you promised to go away and look it up.
Sending over your pitch deck means that they’ve got a record of you and your idea, which they can access at any time. And it’s always nice to leave a good impression!
But don’t think one email is enough.
Pitching your business is the first step on a long road to investment. Think about it – would you give money to a person you’d met once, on the basis of one conversation? Probably not. You’re going to want to get to know them, make sure their idea is watertight, and confirm that they’re the kind of person you’d like to work with.
You definitely don’t want to be sending daily emails, but monthly updates on your progress and opportunities for them to get involved will make sure that your investors stay engaged with your idea. Keep them within business hours, and avoid weekends – interrupting someone’s time off is likely to get you the opposite result to what you hoped!
If you’ve got a big update, don’t be shy – ask them out for coffee.
The worst they can say is no! And chances are, if you make it clear that you’ve got a meaningful update that will change their perception of your business, they’re likely to be interested. Emails are great, but nothing compares to the spark of a face-to-face meeting.
On average, a potential customer needs to see a message at least seven times before they’ll be provoked to take action. So the more you can do to stay at the front of your potential investor’s mind, the better.
And you never know – they might just have an opportunity that makes them go “Ah! That person who emailed me last week is perfect for this…”
MEET THE PITCHING EXPERTS
On Friday 31st March 2023, Gerald Vanderpuye (co-founder of Impact Brixton), Shari Leigh (founder of the Black Business Network) and Jay Crawford (educator, trainer and public speaker) are joining us for a panel talk and pitch slam. They’ll watch six entrepreneurs pitch their business, and give expert advice on how to sell your idea to investors and customers alike. It’s the perfect chance to learn. And there’ll be free rum punch! Book your tickets here.