What elements makes a great pitch?
How do get people to buy my story? I've been developing an idea to expand my business. But since I'm a beginner, I fairly know about pitches and would want more advice on how to develop a strong pitch.
It is important to develop a well-organized and compelling pitch. Effective pitches describe a relatable problem that many people face that is solved by the business/product. Use a story or a personal experience to explain the problem and the solution.
Think carefully about what you want to accomplish. How are you trying to influence or persuade your audience, and how will the story help you do that?
Activate Empathy, the story has to hit the audience emotionally. When working on your pitch, follow a catchy tagline to grab the interest of your audience. Use visuals to demonstrate what your product or service looks like it can be video or infographics or cartoons.
Your story has to captivate the audience/customer attention from the very start. Regardless of how good the story is at its core, attention span is short – so make sure to get to the message pretty fast.
Firstly, the major majority of the time you should only spend about 5 or 6 mins on a pitch.
Secondly, always make sure to mention a bit about the team behind it if it's not just you. Investors like to hear about WHO they are investing in.
Thirdly, make sure to discuss what the current market looks before jumping into what you do. This is a common mistake that people make.
There are a ton of other little tips, but those are the three most common that I like to mention to people.
In short, I believe the pitch should be tailored more to how the customer will benefit from the product and how they will get a return of value for their money. People might love your brand/story/product, but unless they see a return in value they might not make a purchase. By identifying who your target audience/customer is, you will be able to create well tailored pitches.
There is some great advice from the others. I would agree that knowing your audience is key. Knowing when to go into details and when to keep it high level is key. That does take practice and after a while, you will get a better feel for it.
Practice is key, as you write out your pitch, read it out loud, and really see how it sounds. What helps me is to think "what questions might by the audience have on this portion of the presentation?" That helps me put myself in their shoes and also prepare for questions that might come up.
Overall a great pitch is about preparation (tailoring to the audience and their needs), how you deliver the message (don't drag on and keep your tone upbeat) and practice.
Congratulations, that's so cool that you have your own business!
You’ve received a lot of great advice already, but here’s a little more;
- Research small business programs in your area. There are many local organizations that offer free advice.
- Talk to your local SBA, Small Business Administration. This is a federal government organization with offices all over the country that supports small businesses. And their services are all free.
Then construct your pitch with the client at the forefront. What are they experiencing currently (due to industry conditions, information gaps, a need, etc.) that could be solved or aided by your solution?
You need to prepare a good storyline and take continuous feedback on your approach. Use of visuals and text is crucial in pitches so that needs to be carefully thought about.
You should also consider enhancing your public speaking skills through toastmasters or other masters as pitching is not only about the pitch but the speaker as well. Once you start appearing as a confident speaker, your pitch will become much more convincing.
Lastly, try to incorporate some statistic which will completely surprise the audience or if thats not available then something funny which will keep them engaged.