Mastering A Perfect Pitch
Lalit Basnet - Aug 03, 2017
Backtracking and revisiting our memory lane, there was once a hype of job hunting amongst students after pursuing their higher education but moving ahead, times have definitely changed and students today tend to venture out in their own startups rather than working for somebody. This tendency has aided in the rise of entrepreneurs in our country. Fierce competition can be witnessed amongst entrepreneurs today, and the increasing competitiveness has helped to yield quality entrepreneurs. Trying to mitigate the immediate problems faced by the society, entrepreneurship has become dynamic in nature and changes in accordance to time.With the ever growing dynamism in entrepreneurship, mastering some of the elements within it has become imperative to Startups. And, Pitching is definitely one of those key element which an entrepreneur must master. Pitching basically refers to as deliverance of a business plan verbally to an audience. Pitching also referred to as an “ice-breaking session” by The Economist is the initial phase where entrepreneurs and investors meet.
Following are some of the techniques that you might want to harness, whilst pitching your idea amidst venture capitalist:
- Do Your Homework
Research, research and more research. This lays the foundation of a good pitch. In this day and age where internet has become man’s best friend, it is neither too hard nor too late for a thorough research.
A good research must answer the following questions:
- What product and service is your startup offering?
- Who are the targeted audiences of your startup?
- Who are your immediate competitors?
- What is your revenue model?
Moreover, with the evolution of social media it might just be handy to have a prior insights of your judges / venture capitalist before the pitching.
- Work on the timing of your Pitch
A pitch is a carefully orchestrated story that you sell to your possible investors and timing is one of the most important element that you need to work on. It is often perceived that “First impression is the last impression”, and a perfectly timed pitch would be an ideal initial impression that you can bestow on investors. Hence, iterate and reiterate your pitch to attain the perfect timing before pitching to the investor.
- Turn your Pitch into a Story
Story telling is a scientifically-proven way to en-captivate a listener’s attention and it makes your pitch unforgettable. Investors often tend to get bored with the monotonous presentation filled with numbers. Numbers are something that you can always present during the questioning session, instead you can can convey the pathos behind your startups. Everyone loves a good story, even the most data-driven investor.So, tell your story and tell it right and you're bound to gain attention.
- Prepare for the Questions
If an investor is interested, he or she will ask more questions. Be ready for these questions.By formulating skillful and persuasive answers to the tough questions, you will demonstrate the panoply of abilities and traits that investors love to see. You must put yourself in the shoes of the investors and come up with possible questions, this is the single most efficient exercise that one can perform to prepare oneself for the potential questions.
So, if you happen to be an aspiring entrepreneur who is planning to pitch an idea amongst venture capitalists these are the four techniques that might come in handy in the mere future.