The rule of thumb for investors is that for every 100 investments they make, only 10 will go big.
Let me take that rule of thumb a step further. For every 1,000 pitches an investor hears, he or she will fund only 100 of them. Statistically, the odds for success are not great. You can beat the statistics, however, by crafting a pitch that that turns heads and gets funded.
What are the ingredients of an ultra-compelling, irresistible, outstanding, and unforgettable pitch?
1. Take only ten minutes.
Timing is critical. The less time your pitch takes, the better.
A brilliant idea means nothing unless you can distill it to a few moments of sheer power. The more concise you can be, the more effective you will be. Here are a few timing pointers:
If you say that you’ll take “only X minutes,” then take at least one minute less.
If you are told, “You only have X minutes to pitch,” then take at least five minutes less.
If you say, “One last thing” or something similar, then make sure it’s truly the one last thing.
Move at a good pace. Don’t rush at the end.
If you’re using slides, don’t get stuck on one slide for more than three minutes.
Here’s the great thing about taking ten minutes. If the investors are really interested, they’ll ask questions. If they’re not interested, then you will have saved them (and yourself) some time.