What Is Your Why?
The most important part of your business pitch is clearly explaining your why. The reason explaining your why is so important is because this is where you can evoke emotions that are aimed to persuade and convince.
So how do you do that?
You can do this by telling investors the reason why you are on this journey of entrepreneurship. What real problem are you trying to solve with your business?
One of the best ways that you can explain your why is by storytelling.
Storytelling is what hooks the audience in and builds a connection.
Storytelling also allows you to express your emotions and really get to the heart of why you are working so hard for this idea.
If storytelling doesn’t come naturally to you, that’s okay! In our e-course The Art Of Communication, you will learn what authentic storytelling is and how you can use your own experiences to evoke emotions.
Convincing The Investors
The why is meant to show investors that when things get tough, business isn’t going as planned, there is a global pandemic or any other type of setback – your why is what will pull you through.
1. Your Why Should Be More Important Than Money
Your why is a higher purpose, or guiding force, to get you up and working with determination and energy.
The investors want to feel that energy in you. They want to believe that you are all in.
You want investors to know that while money is important to keep a business running, you aren’t solely motivated by money.
Your explanation will shed light on your character and ethics, which is very important to many investors. In our LinkedIn Learning e-course, Presentation Tip For Pitching To Investors, we talk a lot about what investors are looking for when deciding to invest as well as how to make sure you are hitting all of the right points.
2. The Origins Of Your Why
One of the most engaging ways of sharing your why is to start by explaining where you were right before your business idea came to fruition.
Things to consider:
- Did you have an experience that was so bad that it compelled you to make things better for mankind?
- Did you do a lot of research?
- Does your product aim to solve a problem and make life easier for others?
The goal here is to evoke the emotions of motivation, drive, and fire. Because again, those are the driving forces that will get you up every morning to work on your business and your investors want to know and hear that.
3. Choice Words To Use
You’re at the point of your pitch where you are being vulnerable in front of the investors. You’re sharing a struggle that caused you to create this product or idea.
It is important that the words you use evoke the emotions that you want them to feel.
A few words that you can incorporate into your why story are:
Saying these words will help showcase your determination and dedication to your business. Both things investors want to ensure you have before investing in your company.
Your why is the glue to your business and your product. You are excited about the prospect of it all and believe in the difference it will make in the world. So make sure you share your excitement with investors!
Do you need help explaining your why and knowing what to say to investors? Join our private communications group where you can work with our Soulcast Media team on your communications every month!
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