How to make a good pitch
Do you know how to make a pitch? A good pitch is essential in order to attract potential customers or investors. For this reason, today we want to give you some useful advice for when you need to defend an idea or a project.
Furthermore, the second phase of the I Incubation Call, where the pre-selected startups will have to face a Pitch Day on September 22nd in front of the selection committee, will start soon. So, if you are one of those pre-selected, these keys that we are going to give you can be a good ally for you to make a great impression with your elevator pitch.
What is an elevator pitch?
A pitch is a presentation of your business or project focused on attracting potential customers, investors or mentors. In it you must describe your business idea, with the aim of convincing them of a concrete idea in a very brief period of time.
The key is that you need your pitch to be persuasive and catch the attention of the ones who are listening from the beginning.
What can’t be missing in a pitch
There isn’t a fixed structure of how to make a pitch, but there are some points that can’t be missing in it in order to make it perfect.
- Introduction. The first thing that you need to do is to briefly present yourself and your team. This introduction must be catchy to draw attention from the beginning. You need to show the passion that all of you have for the project, just as the capacities and motivations that the team have to effectively make your startup work.
- The problem. One of the most important steps of your pitch is to define the problem or the necessity that you have found and that you’re solving with your project.
- The solution. Once you have described the problem, it’s time to defend the solution that your startup is offering. You have to explain why the customers need your services or product, and why it will fix the problem.
- Competitive advantage. What makes you different? What are your strengths? What sets you apart from the competition? Describing your competitive advantages ensures that you have an unique solution for the customers, and it will make your project more attractive
- The target market. You have already defined the problem that you’re solving, now you need to identify the potential customers who have this problem or necessity. At this point, it is important to demonstrate that your startup has a rentable market and that you fully know your target market.
- Business model. You must defend how your business model works. It is important to make it clear why your startup will succeed. You need to utterly know your business, just as your competition and your market, to sound confident in the moment you explain why your startup will lead to success.
You mustn’t forget that an elevator pitch must be brief, so you will only be able to dedicate a few words to each of these steps. For this reason, it’s important to show at all times the passion and confidence that you have for your project in order to transmit it to your audience. The more confident you sound, the better impression you’ll make on those who are listening to you.
One last thing for you to know to make the best of the pitches is that having graphic resources and making questions to the audience, makes your presentation more dynamic and, therefore, more effective. And, most importantly, practice until you sound natural and confident!
Now that you have all these tips, it is time for you to practice your pitch so as to make it perfect. From Opentop, we want to wish everyone that has been pre-selected good luck on the Pitch Day!