Have you ever heard the word pitch but never knew what it meant for sure? This article will certainly help you to understand better what this concept is all about, often associated with entrepreneurship.
What is a pitch?
Let us start at the beginning. A pitch is a concept that is often heard to be related to the world of entrepreneurship, since it essentially serves to capture the attention – and subsequent investment – of a certain group of investors. It usually lasts only three minutes. It is, in its essence, a short-lived presentation of a business or just an idea being, therefore, very associated with startups.
Typically, these projects performpitches to take your business to another level, raising venture capital funds to invest in multiple aspects, such as improving your product, producing a new one, or even expanding the business.
Think of the pitch almost as if you were telling a story to a friend who is in a great hurry and has only three minutes to talk to you. In this case, you must tell the story in its essence, sum it up the best you can, while trying to keep your friend interested in what you say. Does it look complicated? Don’t worry, in this article we will help you tell your story the best way possible.
Your pitch, or your presentation, can (and should) be followed by a digital presentation that allows those who watch to follow your speech, but doesn’t take the focus away from it, i.e. it should be a simple, appealing, and dynamic presentation. This is called a pitch deck. But we’ll be right back to it.
First, let us discuss some points you can never forget when preparing your pitch:
The first few seconds:
- Studies show that it takes half a second to form the first impression of something or someone and that, after the formation of this first idea, it’s difficult to discard it. Therefore, it is extremely important that in these first seconds you cause the best impression possible, and don’t forget that this presentation can outline the future of your business (no pressure here!).
- Plan your speech in advance. Develop simple topics with a script-like structure to synthesize the main ideas you want to pass on, so you don’t miss a thing. Make sure these key ideas have a logical sequence, are relevant and, above all, interesting in order to maintain the attention of the investors.
- To make a good pitch, it is not enough to have a script prepared and decorated, it is necessary to select one or two individuals from your team that are good communicators (especially under pressure), that know how to project their voice well and that can capture the interest of those who listen.
–The pitch deck:
- To follow your speech, you should recourse to a digital presentation with specific characteristics, particularly creative, simple, and dynamic. This deck should not, at any time, exceed on your speech, as you may put in risk the attention of the investors. Remember: you have only three minutes to make the magic happen, enjoy them well!
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- This is a very relevant question, but sometimes neglected and that’s wrong. As we have seen, the beginning of your pitch will greatly impact investors since it is the first contact with your proposal. However, the end of a pitch is also essential as it is the last impression which investors will get from your business. Therefore, we suggest that you use an impactful phrase that leaves investors reflecting!
In a short summary, here’s a brief list of some important tips on what to do and what to avoid when presenting your pitch:
- Bet on a clear, short, and coherent speech;
- Use keywords that synthesize your business/idea;
- Stay as calm as possible as this will show confidence in your project;
- Explain very briefly the problem that led you to develop your idea and that this is the only viable solution to solve it;
- Select someone from the team who feels comfortable to present under pressure.
- Waste time on irrelevant details;
- Use complex words and/or jargon from your business area that are not understandable to those who hear it;
- Use a pitch deck with too much information.
If your business idea is good and you consider all the suggestions we leave here, you will have your investment round guaranteed!
Good luck 😉
Mafalda Ferro, Digital Marketing Trainee