This is an entrepreneur’s life cycle:
BORN -> FUNDING -> DEATH
Many will agree that seeking funding to raise capital or run day-to-day operations is what gives entrepreneurs sleepless nights. I would say this is what makes entrepreneurs what they are.
This is because they are trying to survive every day to fulfil their potential and dreams. Take for example the hardworking senior management at Nordic Intent – India’s top startup incubators.
The pandemic struck, disrupting operations of every single incubatee under the NI umbrella. The senior management set a plan, adopted revolutionary methods such as WFH, and now are seeing an upward growth graph for all incubated companies.
There are numerous others just like Nordic Intent. What sets them apart is the will to never give up, take hard decisions, and stick by it no matter what. In today’s post let’s look at a key aspect of any entrepreneur’s funding lifecycle – revenue generation through clients.
Wearer of hats
‘Pitching ideas’ to prospective clients is one of the numerous hats that an entrepreneur puts on. At major organizations, this is usually handled by a dedicated team of smart salespeople.
The pitching only comes later. First, there is the ideation, inception, nurturing and developing of a product. It could also be a service, born out of any consumer requirement.
SPEAKING OF CONSUMERS – https://nordicintent.com/here-are-3-major-influences-on-your-customer-journey/
Once the product is launched, then comes the part where a customer base is set up. Entrepreneurs usually start small, unless a fortuitous Series A comes along, and lets you expand immensely.
Starting small does have its benefits. It allows you to deep dive into a world full of opportunity and cultivates a loyal customer relationship. It also lets you test your product/service in shallow waters and learn how the consumer feels about it.
Armed with enough feedback and inputs from your initial testing, you are now ready to pitch an idea to your prospective client.
“Entrepreneurs identify opportunities through failure”
(you should pin that up actually)
6 Effective Ways to Pitch Ideas to Clients
The following client pitching ideas may or may not work for you. But I do feel they can be leveraged to get clients on board.
Pitch Idea #1 – Industry gathering
Industry gatherings or events are excellent opportunities to bump into a sponsor or investor. They are there to look for an idea that could become the next Unicorn. Better yet, enrol into a panel discussion and try to give examples about how your product/service responded to a particular situation.
This is the perfect place to pitch ideas to clients. Set Up a booth where you actually demonstrate problem-solving solutions. Make the visitors curious. Present the idea in a quick and unique way, the end result needs to be an email ID or a visiting card to follow up on.
Natalie MacNeil from She Takes has a similar experience to share. She says, “I started off on a local level, and then I was given bigger opportunities that got me in front of more people. That’s how I got my budding business off the ground.”
Pitch Idea #2 – Free trial
Offering free trials to new customers is an old hack. But it works. According to Souny West of ChiCapital, “Free trials are a great way to market since they attract new customers/increase new customers. They also garner good reviews and testimonials. They also allow you to get more feedback on new products and then make improvements where needed”
That’s a great suggestion. By offering a taste of your product pie, you provide value free of cost. If this solves the consumer’s problem, then set up a funnel that converts him/her into a paying customer.
Pitch Idea #3 – Testimonial hack
In case you run a service, try this. Contact the lead and offer a part of your service for free. In return, ask the lead to write an in-depth testimonial for your website.
Better yet, document the lead’s journey and other details and get a case-study created of it. Obinna Ekezie of Wakanow feels, “In addition, exchanging value—service for case study—is a great way to build trust and get solid feedback from a customer.”
You could try this pitch idea to get a review post for your blog as well.
Pitch Idea #4 – Map it out
Understanding buyer behaviour is important. Equally important is mapping out a relationship. Divide the map into your product’s strongest areas, in relation to the consumer’s pain point.
Tamara Nell from The Leading Niche feels a relationship map can “lead to new opportunities if updated constantly and acted upon.”
Pitch Idea #5 – Get networking
You should always look for someone closest to speak to about your product/service. Announce your product on LinkedIn, share an update on Facebook, Tease a tweet on Twitter. You never know who within your network is looking for a solution.
Try and create a core group of your most loyal customers. Referrals lead to strong leads. Network within your circle and match them to your relationship map. CEO of Capillary Technologies, Aneesh Reddy has this to say about networking. Check his video below.
Pitch Idea #6 – Call-to-action
Without a massive signboard asking your clients to buy, share, like, write, discuss, book, purchase or subscribe; they will be lost.
For example, look at the call-to-action I have set below:
Hey! Looking for the best hack to build your team? Click HERE to know more
Make sure there is a call-to-action to everything that your marketing or PR team puts out. Call to actions increase engagement and need to be simple yet clear.
If you are a budding entrepreneur and looking to partner with us in any productive way, feel free to get in touch.
Visit us at Nordic Intent to learn more.
Also, if you are a Freelancer looking to WORK WITH US, or just interested in knowing more about the cool things we do, go to NORDICINTENT.COM