How to Get a Pitch Meeting: A Comprehensive Guide to Capturing Investo

Securing a pitch meeting with investors can be a daunting task, especially when you consider the competition. Investors are inundated with thousands of presentations every year, making it critical for you to find a way to stand out in their inboxes when you make a cold approach.

The first impression is often the only one that matters, so you must ensure that your approach is strategic, thoughtful, and tailored to the specific needs of the investors you're targeting.

With over a decade of experience presenting to more than 250 investors, I've honed a process that has proven to be highly successful. This guide will walk you through that process, offering actionable insights on how to get a pitch meeting that could be the key to your business's future.

Understanding the Investor's Perspective

Before diving into the step-by-step process, it’s essential to understand the mindset of the investors you’re trying to reach. Investors are looking for opportunities that align with their mandates and investment criteria. They want to see a clear path to success, with minimal risk and a strong potential for return on investment. Your job is to demonstrate that your business or project is a perfect fit for their portfolio and that meeting with you isn't a waste of time.

The Importance of Research

Research is the cornerstone of a successful pitch. Start by identifying the right investment contacts and finding their LinkedIn profiles using our Investor Lists. For Australian-based start-ups, utilising investor lists can save time and streamline this process.

Once you've identified potential investors, dig deeper into their investment mandate. This mandate outlines the rules and criteria by which they invest, usually published on their websites. By understanding their mandate, you can determine if your business meets their criteria and tailor your pitch accordingly. This step is crucial; it ensures that you’re not wasting time pursuing investors who are unlikely to be interested in your project.

What Investors Want to Know About You Immediately

Before an investor will decide to invest any time in reviewing your materials, they will want to know the following things about your business:

Are you pre-revenue or post-revenue? Most investors will only invest post-revenue. It's only angel investors who invest in a business that is pre-revenue.
Revenue level? Most investors have a mandate that is principally expressed as businesses with "X and Y level of revenue". So sharing your revenue quickly can help them decide if you are within their mandate.
Are you growing? They want to understand your prospects are good, and you aren't desperate for money to survive.
What is your business model? Do you have an easy-to-understand business model (subscription, transactional, SaaS, ecommerce, tech-enabled services etc) and is that business model healthy?
Have you had investment before? Have other investors taken a risk on your business? This is usually a really good sign of credibility.
Have you read their mandate? Investors want to know you've understood their high level investment mandate and are genuinely reaching out because you think you're a match.

The more information you provide investors that hits these notes, the better chance you have of having them agree to progressing you in the investment process.

Crafting the Perfect Cold Investor Approach

Once you’ve done your research, it’s time to craft a compelling approach that will grab the investor’s attention. Here’s how:

1. Initial Contact via LinkedIn

Introduction: Start with a brief InMail on LinkedIn. Your introduction should be concise, professional, and tailored to the investor's interests. See below for the perfect email example.
Teaser Deck: Attach a 2-page teaser deck to your InMail. This document should be a punchy summary of your business metrics, offering just enough information to pique the investor's interest without overwhelming them. The teaser deck is your opportunity to make a strong first impression, so ensure it's visually appealing and contains key data points that align with the investor's mandate.
Mandate Match: Clearly explain why you believe your business is a good match for their investment criteria. This shows that you've done your homework and are serious about the opportunity.

Recommended Email Template for Investor Outreach

Dear <first name>,

I'm the CEO of <company name> and I'm writing to you to request a pitch meeting time with <the fund/investor business name> because I believe our business fits within your investment mandate.

Please find attached my teaser deck for your information.

<Company name> is a <business model> platform that <elevator pitch>. Our vision/mission/purpose is <vision/mission/purpose statement>.

Our revenue is currently <x> and we are currently growing at <x rate> YOY, and are in need of investment <for this reason>. This will be our <x stage> raise.

Please review our teaser deck, and we'd be happy to meet at a time that suits you.

Regards,

<Your Name>

How Investors Will Respond

Investors will likely respond to your cold approach in one of four ways:

They will send you an official email or alternative direct email account for where to send your materials. There may be an official catch-all email address or established process for where investment approaches are sent, sorted and progressed. If you are directed here, then repeat the email to the new address.
They will ask for your pitch deck. Many investors might require a look at your pitch deck before a pitch meeting. Ask for a direct email address to send this to. You could ask them to enter an NDA prior to sending the pitch deck, but they most likely won't agree. Make sure your pitch deck doesn't include super commercially sensitive information because it's most likely you won't be under NDA.
They will send you a calendar link. Many investors set aside a small portion of time each week to meet founders and take introductory meetings. Usually, you won't be given more than 30 minutes. Book a time that suits them and download our guide to a compelling pitch deck (which includes a lot about the pitching process).
You'll get ignored. If you get ignored by one principal, and you really feel like you match the investment mandate of the fund, then approach another... and another until you get a response. Also, double check their website and make sure there isn't information on the site about particular channels through which investment materials should be sent.

2. Building Competitive Tension

Repeat the Process: To maximise your chances of success, repeat this process with as many investors as possible that you think have a mandate that matches your offering. Having multiple investors interested in your project can create competitive tension, which could lead to better terms and a higher likelihood of securing funding. The more options you have in your investment process, the less of a need you have to accept the terms of a bad deal. The wider you throw the net, the better.

What to Expect in a Pitch Meeting

Pitch meetings are your chance to present your business in detail and answer questions from investors. They are typically held with junior members of the investors organisation, such as analysts. Here’s what to expect and how to prepare:

1. Preparing Your Pitch Deck

Your pitch deck should be an expanded version of your teaser deck, providing more detailed information about your business, market opportunity, financials, and growth strategy. Focus on the specific project or projects you're seeking funding for, and tailor your pitch to the interests and priorities of the investor.
Storytelling: Use storytelling to make your pitch more engaging. Investors are not just interested in numbers; they want to hear the story behind your business. Highlight the journey, the challenges you've overcome, and the vision you have for the future.

2. Practice and Rehearsal

Confident Delivery: Practice your pitch multiple times to ensure you can deliver it confidently and smoothly. Be prepared to answer questions about your business, market, and financials. Investors will be looking for clear, concise answers that demonstrate your knowledge and preparedness.
Anticipate Questions: Think about the questions investors are likely to ask and prepare your answers in advance. This includes questions about your prior experience, the market size, competition, revenue projections, and exit strategy. The more prepared you are, the more confident you'll appear.

3. Engaging with Investors

Listen and Adapt: During the pitch meeting, it's crucial to listen to the investor's feedback and adapt your pitch accordingly. If they express concerns or ask for additional materials, be responsive and provide what they need promptly.
Small Talk: Don't underestimate the power of small talk. Building a personal connection with investors can be just as important as the business details. Be personable, approachable, and interested in their feedback and suggestions.

After the Pitch: Following Up

After the pitch meeting, the work isn’t over. How you follow up can significantly impact the outcome. Just a note: these people are really busy and prefer succinct communicators. Try to be really efficient in your communication. Here’s what you should do:

1. Send a Thank-You Note

Within 24 hours of the meeting, send a thank-you email to the investors, expressing your appreciation for their time and interest. This simple gesture can go a long way in building a positive relationship.

2. Provide Additional Materials

If the investors requested additional materials during the meeting, ensure you send them promptly. This could include a more detailed pitch deck, financial projections, or additional data that supports your business case.

3. Stay Top of Mind

Investors may take some time to make a decision, so it's important to stay top of mind without being pushy. Periodically update them on your progress, share any significant milestones, and continue to demonstrate the value of your business.

Common Pitfalls to Avoid

While it's important to know what to do, it's equally crucial to know what not to do. Here are some common pitfalls to avoid when trying to get a pitch meeting:

1. Overloading Investors with Information

Keep your initial outreach brief and focused. Sending too much information too soon can overwhelm investors and reduce the chances of getting a meeting.

2. Ignoring the Mandate

Pitching to investors without understanding their mandate is a waste of time for both parties. Always ensure your business aligns with their investment criteria before reaching out.

3. Failing to Follow Up

Following up after a pitch meeting is critical. Failing to do so can signal a lack of interest or professionalism, potentially costing you the opportunity.

The Best Way to Get a Pitch Meeting

Getting a pitch meeting is not just about having a great business idea; it's about presenting that idea in a way that resonates with investors. By thoroughly researching your targets, crafting a compelling approach, and executing a polished pitch, you can significantly increase your chances of success. Remember, the key is to be persistent, professional, and prepared. The more you refine your process and learn from each experience, the more confident and effective you'll become in securing the meetings that could change the trajectory of your business.

Investors are always looking for 'deal flow', and with the right approach, your company could be entering a more detailed investment process with an investor. So, research diligently, pitch confidently, and follow up meticulously—your future success could be just one meeting away.