The pitch is going well. Then comes the question you weren’t expecting.
How you handle objections and difficult questions is often more important than the pitch itself. It’s where trust is built or lost. It’s where preparation separates good pitchers from great ones. From first-hand experience I can confidently say that how you handle objections and questions can determine whether or not its successful, and will be one of the most influential components of their opinion of you. Reacting poorly to an objection is a terrible look. Combating people, making stuff up are common mistakes.
So here’s how to approach objections.
Why objections are good news
An objection means the person is engaged. They’re thinking about it seriously enough to push back or ask for more context. Silence is much harder to work with than an objection.
Treat every objection as a question in disguise – usually “convince me this is worth the risk.” Most objections are a result of a gap in the presentation or something that wasn’t well explained. By asking, they are doing you a favour.
The four types of objections
Price – “That’s more than we budgeted.” This is usually not really about price. It’s about perceived value. The response is to reinforce the value, not reduce the price. Haggling immediately, offering to halve the price just tells them you were overcharging to begin with. Break down the numbers, and lay them down in front of the person. This is a good opportunity, as it shows someone you ‘know your numbers’.
Timing – “Now isn’t a great time for us.” Sometimes this is genuine. Often it’s hesitation dressed up as logistics. Acknowledge it, then ask what would need to be different for the timing to be right. Ask when would it ever be a ‘good time’. Finally, sometimes this is their way of telling that they think this will be a lot of work for them, if he project or proposal requires buy in from them, don’t push it. If all you need a signature then detail to them what their end of the bargain is.
Trust – “We haven’t worked with you before.” This is the most honest objection. Address it with proof, case studies, references, a small first engagement to demonstrate what you can do. This is why proof points are so important in your pitch, as it heads these objections off at the pass. Sometimes they might not trust your solution or idea, disagree with your logic; in these cases I like to have some slides ready with a deeper breakdown on the model, not for the pitch but for the question if it comes up. Showing you were ready for the objection and have a prepared answer is a good look
Competition – “We’re already working with someone else.” Ask what’s working well and what isn’t. Find the gap. Don’t criticise the competitor. You might add ore value to the current arrangement. Again however, don’t force it, but they are in that meeting/pitch with you for a reason so asking them to answer why they would entertain your pitch could be a useful starting point.
The objection handling formula
- Acknowledge – Hear it without defensiveness
- Clarify – Make sure you understand what’s really being said
- Respond – Address the underlying concern
- Confirm – Check that your response landed
Difficult questions
In presentations and pitches, difficult questions are opportunities. They signal that someone cares enough to engage.
If you don’t know the answer: say so. “That’s a good question and I want to give you an accurate answer – can I come back to you on that?” is infinitely better than guessing.
“I don’t know”
Believe it or not, “I don’t know” is an incredibly valid response to a question if you genuinely don’t know. Especially around funding, people are looking for reasons to trust you and if they think you are pulling answers out of your arse because you don’t want to admit you don’t know something they will pull away. “I don’t know, I’ll need to look into that” is a valid and humble answer. Acknowledge it and follow up on it as fast as humanly possible.
Especially for a potential investor, it demonstrates you’d be easy to work with and won’t bulls**t them on things you don’t know. I once had an investor tell me he had a lot of respect for my “I don’t know”.
Exercise
Write down the three objections you’re most likely to encounter in your pitch. For each one, write your response using the four-step formula.