They have spent a lifelong structure of skills, learned lessons, promotes relationships and developed a perspective that is as forward -looking and powerful as their personal drive. You have poured everything into your business. Now they have five minutes (or less) to communicate an irresistible vision for the world and to convince a group of viewed – and sometimes disrespectful – judges that they can make the vision real and make some money. How you do that?
A pitch competition is a unique moment: I set myself up, judged and organized in Miami to Mongolia. I am an entrepreneur and investor and I spent a decade to fight for “Shark Tank” and other business television shows. Every year I meet thousands of entrepreneurs around the world, rated their companies and help them prepare for their big moment.
I organized the Pitch battle at the TNW conference in June. The competition – won by Dutch startup Tap Electric has highlighted the history of a founder. Regardless of whether you throw the sharks at a tech conference or rock the stage, you will find some key elements here that make a pitch successful:
Annoy
Yes, nerves. While many people devote time and money to overcome and outperformance nerves, I think that nerves are a critical element for a successful pitch. Why? Nerves mean that they are interested. Some people are afraid to speak publicly, others have met from the moment and what could mean financing or exposure to their business, and nobody wants to submit a service that does not submit resonance. These are all reasons to take care of the field. These are all reasons to feel something – before, during and after.
Entrepreneurs who open up to the promise, intensity and the excitement of the moment create the possibility that these feelings will encourage a passionate pitch. The feeling of feeling the moment without being consumed from the moment is a key element for a successful pitch.
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Research
A successful pitch begins long before you step on the stage. Do you know your audience and your judges. Find out who will be in the room, what it is important to you and how you are rated. In practice, this means researching the background and motivations of the judges. A Angel investor can prioritize the traction or the business model, while a company sponsor may pay attention to strategic orientation. Other judges can address companies that can “do” with the funds provided or resources.
Don't try to record everyone at once. Go to the group that is most important for this competition and give them confidence in your understanding of the market, your motivations and how you can progress.
Regardless of the phase in which your business is in your company, tell your history and clearly articulate how to use the available resources and/or be asked to achieve KPIs that use the judges and the overall competition.
First paint a living picture of the pain point. Then explain how your product or service appeals to this problem in a new way and highlights every unique technology or a unique approach. Next, emphasize examples of real world or user stories to make it accessible.
Finally, define the market chance across the entire addressable market (TAM). Yes, decision -makers want to know that their company has the market potential to grow and scale. In addition, the judges want to know how to use the available resources to reach and convert the market.
What do the resources that are available to the winner of the competition mean in relation to customer touchpoints? What do the points of contact in relation to conversions mean? What do the conversions mean in terms of top line revenue? And what does this turnover mean for the way to profitability?
audience
Connect with the audience. Let yourself be fueled by your energy. Invite them to take part. If you establish a real connection with your audience, you can distinguish yourself. Bring energy and enthusiasm to the stage. Smile, make eye contact and move with purpose. These simple actions make a formal pitch into an appealing conversation.
Invite the audience to get in touch early and often with you and your business. Ask a question, weave up in a call and reaction, set a hands exhibition, share left-hand-all these parts can drive the commitment beyond the pitch.
Instead of memorizing your pitch to memorize you to be ready for the unexpected. Bad luck, as if they are telling a friend an exciting story instead of reading foils. This real connection and eye contact, enthusiasm and a two-way feeling vibrate your message.
Questions
They would be surprised at how many entrepreneurs start their business without having a clearly defined question. As a business owner, you should ask about every audience that you imagine. It is up to you to know which resources are needed to bring your company to the next stage and ask about these resources.
Do not leave the most important part as a surprise – always indicate a clear, specific question. Your questions are central to the Pitch and it Tell the judges exactly what they need and why.
If the competition has defined price amounts or other resources, enter these resources in the ASK. Let the judges and the audience know that you have thought about how you can build your business in a practical way with this competition.
If, as is so often the case, your company needs additional means or resources that go beyond the available people during the competition, mention this broader one. Explain how the resources from the competition support their persecution of these resources.
Contents
A good pitch is not a single moment. Documenting the preparation, pitch and the results can be an incredible way to connect with your audience. By creating clips and other content from your field, you can set your business to the stage long after stopping the microphone.
Treat the entire process as valuable content. Document everything: your application, your acceptance in the competition (a service on and for yourself), preparatory work, exercise sessions, final foils and even your nerves!
Write down your exercise height on video whenever possible so that you can refine your delivery and later reuse clips. Save your pitch deck, photos and videos after the event. These materials become marketing gold. Take the polished two- to three-set “Elevator Pitch” and use it in e-mail newsletters, on your website or in social media posts.
Write a short blog or a LinkedIn contribution about your Pitch experience -what you have learned, the result and all other knowledge you have gained. Keep your community up to date: This visibility can attract customers, partners and even future investors. Use social media and other channels to strengthen your history.
A winner is based on preparation, clarity and connection. Explore your judges, tell a crispy story, get involved with your audience, specifically stand up for the resources and the strategy, ask a confident and relevant question and then make them a presentation in many convincing content.
These elements work together to make their pitch unforgettable and effective. A pitch, including them, can charge a company and accelerate its way to growth.
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