We know how tough of a job it is to stand tall in front of a crowd that’s ready to comment on every small motion you make and lift a brow every time your anxiety seeps through a crack in your voice. With all eyes on you and a timer on the clock, how exactly do you persuade your audience that your million dollar idea is worth the shot- all in 5 minutes?
That’s what we’re here for. Let's ace your next pitch together!
Here are 9 things to consider to create a winning pitch:
Start your pitch with a personal story that made you want to delve into the business of helping people. Keep it real and simple. At the end of your pitch, what your audiences remember are good stories of gaps-turned- ventures. Paint a larger picture of the challenge to emphasize the size of the market opportunity and the potential for your business to have a large impact.
Some people would often come in on stage with the most game-changing ideas, ready to topple over the “status quo” but most often than not, fail to secure an investment.
Why is this?
It’s a common mistake for up and coming entrepreneurs to launch and invest in their business ideas without conducting an initial round of empathy work. In their heads, their ideas are bulletproof but it is in understanding the needs of the people that we can develop products that fit right into the formula.
In your pitch, highlight how you are able to validate the existing and immediate need for your solution through market research, survey and interviews.
Your sustainability/ profit model is the best possible way you can assure your audiences that your business idea is going to be great.
The model should address questions such as:
This information is specially crucial for investors as it shows them that the idea is not just a short-term solution but has the potential to become the next big thing.
Paint your audience a picture. Help them understand your would-be impact with their trust on board. Show a credible forecast with supporting evidence that your idea can make a real difference.
Lastly, show them how they’re a part of the future you’re trying to build and that it’s their stories you’re trying to weave into the innovation you’re developing.
Lay down your plan of action in order to turn these numbers into reality. Think about it like a roadmap– which milestones would you have to achieve and go through in order to get to your desired impact?
Having a plan of action demonstrates to your audiences that your solution isn’t just a far-fetched idea but is a tangible plan that can be executed.
Highlight what you have already achieved. By sharing your accomplishments so far, you can demonstrate that it has a proven track record and that it is on the path to success. Be it market validation or landing a significant deal, what’s important is to tell your audiences that you have the ability to get things done. Facts only.
If you’re out there trying to fish your first angel, highlight your market entry plan instead. Prove your audience that you have a solid market-penetration strategy and that you have the ability to bring your solution to the market successfully.
It’s also important to be thorough in your competitive analysis and revisiting what sets you apart from existing competitors? What are the advantages and disadvantages of your idea?
One of the best ways to illustrate that you understand your competitive landscape and your differentiators is to present your competition in a matrix format like this one:
Showcase the expertise of your team because it can help to build credibility and demonstrate that you have the knowledge and skills necessary to successfully deliver on your proposal.
By highlighting the different fields of expertise within your team, you can demonstrate that you have a well-rounded group of individuals who bring a range of knowledge and experience to the table. This can also help to demonstrate that you have the ability to tackle a variety of challenges and that you have the resources to handle multiple aspects of the project.
Whether it is still in the works or not, It’s amazing what a visual representation of your product and your business can do for the overall effectiveness of your pitch. One bit of reminder when doing this though is be mindful of your audiences’ demographics so you can tailor fit how you can best describe your product in a way that would appeal to them best.
It might not be the best idea to talk all technical about your product when pitching in front of social impact enthusiasts or not go over your tech at all in front of investors from Silicon Valley.
An impressive pitch doesn’t come together overnight. It’s going to be a lot of revisions, iterations and practice. So practice. A lot.
You’re all set! All that’s left to do is ace that pitch! Preparation is 99% of the job and you’ve been such a limitless rockstar.
Get that bread.