So you are done with your pitch rap on stage, then what?
You are 50% done with your pitch, the other 50% is the questions and answers from the investors.
How you respond to questions from the investors can make or break your pitch.
Here are some tips when answering investor questions:
- Listen to the questions carefully;
- Answer the question directly, no long stories;
- If you don’t understand the question, say you don’t understand and for a rephrase of the question;
- Don’t argue with the investor;
- If you don’t know the answer, say you don’t know but will definitely find out;
- Don’t lie; and
- Be polite, don’t be arrogant, even when you are under pressure.
No, it’s not a court of law, the questions are not there to catch you out, but to clarify things from your pitch.
Some investors may be aggressive or may [rightly or wrongly] disagree with something on your pitch, don’t argue with them.
Remember, you are there to build investment relationships, not to prove points.
Even if you know the investor is 100% wrong, hear them out, but don’t argue.
Don’t try to win arguments, you might come across as someone who is argumentative and that turn off the other investors on the panel who were initially keen to invest.
Don’t be a walk-over, but develop a tactic to deal with difference of opinions without being argumentative.
“Yes I hear you, and I understand where you are coming from, I have a different approach to the issue and this I how I view it…. However I acknowledge and respect your view….”
“Thank you for highlighting it, I will consider your input and will double-check the numbers and adjust accordingly…”
There is so much power in humility, I wish many people could know that.
Investors are looking for someone they can work with. Being argumentative [even when you are right] often leaves a bad after-taste in people.
Be a pleasant person to work with.