Idea pitch
What is an idea pitch?
An idea pitch is a not-less-than-1-minute presentation of your business idea, with or without a pitch deck. You came up with a brilliant business idea and now you want to find customers and investors. An idea pitch is what you need to convince your target audience and get the feedback/ money you need. Here are 3 steps for you to craft a effective pitch that people actually want to hear more about from you.
Focus on the problem
When you talk about your idea, always start with the target problem, as it explains the “why” of your whole idea. Be specific about the problem and tell people why no one can solve the problem but you.
Step 2 – Focus on the “How?”
After talking about the problem, you should talk about how you are going to solve it with your business idea. Don’t put too much details here, focus on the benefits that your customers can get instead of the features of your product/ service.
Step 3 – Mention your competitors
You should never ignore your competitors, as this is a huge reg flag as an entrepreneur. Do your homework and know your competitors before pitching your idea. By analysing your competitors, you will know how to position your business idea.
How to pitch well?
Giving a pitch can be nerve wracking, but it doesn’t have to be that way, if you have enough preparation before your pitch. Here are some Do’s and Dont’s for you.
- Know your audience
- Keep it simple
- Know your data and numbers
- Be confident
- Highlight your expertise
- Show traction (if possible)
- Prepare for possible questions
- Give too much irrelevant details
- Talk to much
- Overpromise
- Exaggerate too much
- Ignore competitors
- Forget your numbers
Pitching corner
Want to practice idea pitching and become more confident in talking about your business? Send a video/ script of your pitch and we will give you contructive feedbacks in 3 days.