We have come a long way until this last topic. We learned how to think, the differences, creativity, how to design thinking for a problem and now to sell that design, in other words, pitching. For some people this word is scary, it has so much power for a talk of such a short amount of time, and there are only a few people that can perform it the way it supposes to.
A pitch is a presentation of a business idea to potential investors. It lasts around 60 to 90 seconds. People pitch a business because they need resources. If the goal is to raise startup cash, the target of the pitch is an investor. Other companies pitch to potential customers to sell their product. Finally, some organizations pitch because they need a partner or resource to help them accomplish their mission.
The aim of the blogs is for you guys to understand the concept and importance of pitching. Therefore I will list some guidance points for you to prepare your pitch and yourself. Good luck!
- Investors are busy people. As we already explained, pitching doesn’t last long that’s why you need to start with a boom, something that calls their attention, e.g. storytelling.
- Uniqueness. You need to be very clear on the uniqueness of what are you selling, on why is it the best, why it will work, concentrate on the why.
- Less is more. You need to be concrete on what are you saying and the importance of it.
- Do your homework. Try to get to know your investors before the pitching so that you can use different events, facts or examples to make them feel more related to your business.
- Business model. Show statistics that will validate the income of your business, the average sales, etc.
- Win-win. Make it very clear how they (inverstors) will generate returns on their investment. You will have an excellent opportunity for the investor if he/she believes that they will make significant returns on their investment.
- Cliffinger. Is as important as the first one to catch their attention at the end and let them thinking how helpful, bright and creative your proposition is.
- Don’t forget to cite. Reference every statistic and claim that you are using to validate your business.
You need to know that even if you do all this, there’s still a chance that some investors just won’t buy the idea for different reasons, DON’T GIVE UP. It doesn’t mean that it is not a great idea.
I will leave you with a quote. I hope you guys arise above everything with your ideas and reach the sky. Thank you for reading this. See you next time!
«Don’t think of pitching, think of offering. The offer is better than the pitch»
– Sonia Simone
References:
https://study.com/academy/lesson/business-pitch-definition-types-importance.html
https://www.jumpstartinc.org/wp-content/uploads/2016/09/Investor-Pitch-Tool-9616.pdf
