Israeli Startups: This is How you Pitch to Corporations
People have written many articles about the right way to pitch your startup. Still, listening to dozens of Israeli startups — from early stage to later stages — pitch to our partners has led me to share my two cents about the do’s and don’ts when meeting companies you want to partner with (or get strategic investment from). This post is intended for people who wish to know what works, what doesn’t work, and how to do it better from the perspective of “the person in the room.”
This content is relevant for you regardless if you are experienced, or you are right at the beginning of your journey.
Before I start, let me mention some technical things that you should take into account before entering the room (and which many fail to do):
- Don’t be late, seriously, don’t.
- Bring and HDMI converter if you need one — don’t count on anyone
- Charge your PC in advance
- Always come with business cards
1. The Chameleon effect — I find that one of the most important things people tend to ignore is to match their energy and intensity of the delivery to the energy in the room. The “Chameleon effect” refers to nonconscious mimicry of others’ behaviors. When presenting to potential corporate partners, you should not mirror your interlocutor’s behavior. Instead, you should be conscious of the behavior of others. Adjust your body language and tone of voice to suit your client’s mood and make sure you are communicating on the same level. Once you get into the room, it is important that you immediately understand the unwritten rules about your audience and conclude what will grab their attention in the best way.
Do: If the person you are meeting is energized and has a vibrant temperament, use your charisma for a better show, stand when you present and make sure you are leading the conversation.
Don’t: If your interlocutor is more laid back — a “sit-down-and-talk” type of person — don’t be too eager. You’ll exhaust him. Don’t hesitate to change your “show” on the spot.
2. Show it! Don’t tell it — one of the most repetitive sentences when Israeli startups present to foreigners are: “you know, we are Israelis…In Israel we do it that way” and “I’m allowing myself to ask because I’m an Israeli.” It must be stopped. Your interlocutors know you are from Israel — stating the obvious multiple times during a short meeting is uninteresting and does not bring you (or them) any value. Foreigners really detest hearing these clichés (since they hear it in every single meeting) and they are often not used to expressing so many generalizations.
Do: Embody the outstanding Israeli-entrepreneur personality that impresses people worldwide.
Don’t: Say you are the kind of Israeli the world talks about.
3. “Great question, I’ll check it” — it’s a wonderful answer, but cannot be used more than once during a 30-minute meeting. In case you are repeatedly asked a question to which you don’t have an accurate answer, think on your feet and try to provide a different piece of information that is relevant to the question — following the meeting — follow up with an accurate answer ASAP.
Do: Prepare for any type of questions. Figure out the background and area of expertise of the person you’re meeting and use that to assume what questions you will be asked and what level of detail will be required. And in general, always be ready with answers about the different business models.
Don’t: Come unprepared. If you find yourself lacking answers, conclude and learn from it. Also, it’s not a good idea to assume that corporate people lack technical knowledge.
4. Know who you are meeting with — learn about the company and the people you are about to meet with.
Do:” I read that your company invested in X and wanted to ask…”
Don’t: “What does your company do?
5. Numbers and stories — tell your story and back it up with numbers. Don’t only use charts, tables and diagrams. Instead, impress the room with the stats, highlight the bottom line, and intrigue them with your story.
Do: Let the people you meet understand the full picture while you’re pitching and attach supporting numbers to it.
Don’t: Show an excel sheet in your presentation to prove demand. Numbers with no story do not support your case.
6. Personal presentation and hygiene — make sure that your performance is respectful also in the eyes of the people you meet.
DO: Dress well, polo or a button-up shirt is fine.
Don’t: Wear flip-flops, sandals, T-shirts……
7. Language — the little things are those that matter. Make sure you are fluent in your pitch even though it’s not your native tongue. Make sure you are aware of what words are inappropriate to use if you want to discuss an amazing situation or a bad occurrence.
Do: speak with confidence and make sure to deliver your message clearly, even by using “simple” vocabulary.
Don’t: use disrespectful phrases like “f***ing amazing” or “yea…”. “Yes” and “incredible” work just as well and leave a better impression.
We wish you the best of luck, and feel free to share with us more tips that helped you with your journey!
