This week’s readings really broke down the importance of being quick, clean and concise with pitches. The pitch is a culmination of all the other steps that have gone into this process thus far, and while you could be spot on with the research, data, target market, MVP etc. If your pitch isn’t strong, you’re not going to get the funding you need from investors.
The Entrepreneur article really broke down the different aspects you should think about when preparing your pitch and really could be used as a check list. It really had good tips on time management when it comes to pitching. I think this is one of the most important factors because where as we have this product that we worked so hard on and want to tell you everything about, people will only pay attention for so long. That’s why it is important to tell a story, make it engaging and get to the point when it comes to explaining everything.
I like how the VentureBeat article goes further into what should happen throughout the presentation and what happens after. It talks about the involvement of your team, which I think is really important for us as we prepare our pitches. And the idea of answering questions and how its okay to not have the right answer. The more important piece is how you answer the question and not the actual answer. I also liked the paragraph on how to handle negative feedback because that is going to happen, especially with our first pitches. Also knowing that it is okay to ask for clarification of you don’t understand what the judges meant in terms of feedback. Often times we feel stupid asking, especially in front of someone who is judging our work so it’s important to know that it is okay.
I love Shark Tank and they know what makes a good pitch. One take away from this video is definitely that you will get better with time. Over time you understand more of the business and the public speaking aspects which will help your pitch. You also learn how to be more concise in your explanation and know your stuff. Also the importance of your look, the judges are judging you from the moment you step in front of them, even before you say a word. First impressions are very important in keeping someone’s attention to actually learn about your product.
Then the TED Talk. Public speaking is something everyone is nervous about initially it is a very vulnerable situation, especially when you are speaking about something you’ve put a lot of time into and you are trying to get other people to buy. The idea that the task at hand is to transfer an idea and trying to get other peoples brains to sync with yours, actually makes it less scary.
When pitching an idea, you are ultimately just trying to get people’s wheels turning. Get them thinking about is this a problem for them, and do they like the solution would they use this product as a solution.