Over the years I’ve met a lot of successful entrepreneurs and business owners, and they all have one key characteristic in common.
It has nothing to do with age or gender or title or how much money your parents had growing up.
I’m talking about CONFIDENCE.
Sound like a no-brainer?
Don’t write it off just yet. Take a look at the impact of low self-confidence in your pitch.
You may have a fantastic idea — but your confidence level can make it or break it. It can mean the difference in securing funding and a big fat “no.”
The reason is simple: If you seem uncertain of yourself, you lose your ability to persuade them to buy into your idea. As a result, it drains their confidence in you.
Confidence Pays Off
If you’ve ever seen the shows Shark Tank or Dragon’s Den, you might have seen a few businesses get funded that surprised you.
Often, these deals include a statement from the investors like:
“I believe in you.”
“I love your energy.”
“Your business idea needs work, but I’m willing to invest in YOU.”
These are great examples of pitches that were won because of great confidence, high energy, and an engaging presentation.
Meanwhile, many innovative ideas on those shows often are denied funding because the entrepreneur lacks confidence. Even with a solid business plan, a strong set of financials, and even great sales volumes, some pitches fall flat if the business owner seems uncomfortable, self-conscious, or just unsure of their own pitch.
How to Start GROWING Your Confidence
Are you getting feedback that you seem unsure when sharing your idea? The good news is that confidence can be learned. Not all successful entrepreneurs start out being confident when pitching their ideas!
If you need help, consider getting some extra one-on-one assistance and working with an experienced personal business plan professional to instill confidence in your idea, your presentation, and yourself.
You can get started right now with my List of Do’s and Don’ts for Pitching Your Idea:
- Preface your idea with disclaimers.
- Point out your own flaws.
- Bring things to the table nobody was thinking about anyway.
- Second-guess yourself or your idea when pitching.
- Put yourself down in front of other people when it comes to your business.
- Figure out the limiting beliefs you have about yourself or your idea. Write them out in a list. “I’ve never been good at public speaking.” “I never finished graduate school.”
- Expose the misconceptions you hold about yourself. Your biggest fears grow larger when they stay hidden. Identify them and name them for what they are. “I am slow to think and process.” “I can’t…because…”
- Now imagine yourself without limits. Visualize the results of moving forward through your fears. “If I weren’t afraid of … I would move forward with ….and achieve….”
- Get out of your own head. Successful entrepreneurs are willing to get feedback from trusted others. It might surprise you how much emphasis you’re placing on something nobody else notices. “Is my lisp detrimental to my message?” “Am I coming across as self-centered or like I’m bragging?”
Know your idea, your numbers, and the passion behind it all. And more importantly, be able to successfully convey it in words.
Master your pitch, and the confidence will follow.