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As you can see, startups became quite popular. In 2019, almost every user has a couple of ideas to present. As a result, such things as startup events are also in use. Visiting one of such meetings, a young businessman does their best to stand out from the crowd. Without a doubt, you already know a lot about these events. In fact, the winner gets not the attention only. The main prize is getting a strong partnership with an investor. Sooner or later, that’s what any idea requires. In case you are about to develop your project, this post is just what the doctor ordered. Why? Well, because the book will tell you about all the secrets of today’s pitching. Why do you need it? Let’s see!
First things first, let’s give the definition to this trendy word. Basically, a pitch is the name of all the actions a startuper does to sell their product. Pitch is the ability to present your idea and the main task of pitching is to create an eye-catching and wallet-opening promo. How can you do it? Well, this is what this article is going to teach you.
So, to sum everything up, pitch is the performance you make during a startup event to grab the attention of potential investor or investors. It can include any kind of visual presentation. Working on a pitch, remember that whatever you do, you do it for one reason – to sell something. You may want to sell such things as:
So, now you know what pitching is and why you need it. But what about the person you are meant to impress? Talking about startup competitions, your potential viewer is an investor. Let’s say that it’s a rich person, which is ready to invest their money into your project/ idea/ startup. However, pitching is a pretty deep term. Its usage is more than just startup competitions.
In a word, you can use pitching whenever you need to get support.
To begin with, Pitching can be divided into 3 main types depending on the form and the lengths of your performance. There’s another classification you can use and we’ll move to it in the next paragraph. So, as it has already been mentioned, there are 3 types of pitching:
Now, let’s discuss each of them. Although these definitions may look boring, you need to know all of them to get success. Your first step will be finding your own perfect pitch form, so let’s see what variants you have here.
To make a long story short, an elevator pitch is a promo which is no longer than 1 minute. It should be short, bright, and laconic. As always, the main task of an elevator pitch is to interest your investor/ boss/ partner/ customer. Basically, an elevator pitch should make them want to invite you to the second interview. Needless to say, this second meeting is your chance to share all the details of the project you are working on. However, when it comes to an elevator pitch, you do have to make your best and stay laconic. Use graphics instead of boring tables.
This type of pitch reminds this popular YouTube promo. You can’t skip it but the promo lasts only 10-30 seconds. The same thing is with your elevator pitch. Use your time wisely because the pitch should contain the next questions:
Why creating a worthy elevator pitch is important? Before all else, don’t forget that the decision of your possible investor depends on this step. Your elevator pitch will let big players understand whether they want to spend time on reviewing your project. The thing is that an investor (as well as any well-known company) receives thousands of startup pitches every day. That’s why you should know how to stand out like a sore thumb! Even when it looks like you just started working on your promo, it’s important to create a pro elevator pitch.
So, how can you get it? To do it, you should remember the way the human brain works. It’s always easier to notice, understand, and remind visual elements. For these simple reasons, you do need them for your elevator pitch. Needless to say, there are a lot of ace visual components you can use for a presentation. Among them, there are:
Don’t hesitate to use them for a winning elevator pitch. By the way, in case you prefer working with pre-designed templates for presentations, you get the named UI elements just out-of-the-box. In 2019. it’s almost impossible to stay unique and trendy at the same time. However, the creators of these packs selected for you only the worthy designs. Besides, they are 100% versatile. Using one of these flexible components, you can change any detail up to your taste. By the way, we recommend you to use the color schemes that you already used (or going to use) for the style of your company. It’s important to grab the attention of investors even when it’s only the first step, so you can finally focus on the textual part of the pitch.
To start with, be ready that the process may take some time. A worthy elevator pitch is a powerful thing, so you’ll need to work on it. Once you are done with all the preparations, make sure that your pitch sounds natural and opens the main idea. This small step-by-step guide will help you to get the very elevator pitch.
Looks like it’s finally time to move to the next type of pitch – idea pitch. So, what is it? In a word, idea pitch is the presentation, which lasts 3 minutes maximum. As you may know, this is the most popular pitch type that is widely used for different startup competitions. Usually, a properly created idea pitch consists of these points.
When you are done with money, it’s time to introduce your team. Now you can highlight some personal and working achievements of your partners. Make a special slide for it!
Also, you will have time to share your contacts. Don’t forget about social media pages and make sure you’ve added a working website to the contacts list.
To create a beautiful conclusion, you have to find the most remarkable facts and a unique solution. The investors will remember them even when your promo is over.
Now let’s give the definition to this type of the pitch. Basically, funding pitch is an extensive promo. It lasts 7-10 minutes and covers multiple questions. Funding pitch includes all the steps named above. Plus, this presentation also comes with the next points:
What should you do to impress the audience with a funding pitch? Here are some tips for you.
What is more, you should avoid overusing text for your slides. Replace it with all these voguish designs like charts and graphics.
There’s no need to say that you should not lie during the presentation. Being completely honest, you have more chances to create a trustworthy relationship with investors. Otherwise, your reputation will be ruined.
To finish with, analyze any detail of today’s market and your competitors. You won’t need it for the main part of the pitch. Still, such information will help you to answer final questions.
So, now you know what the main 3 types of pitches are. On the other hand, some users prefer different classification. They divide pitches into 6 types depending on the viewer. Honestly speaking, it’s also a nice variant. Any successful speaker should understand their audience to make a better pitch.
According to the second classification, there are 6 pitch types:
Let’s say a couple of words about all these types.
Investors pitch is a classic pitch we were talking about at the beginning of the post. It’s the pitch to get money, support, and attention. There are 2 main things you do for the pitch. Firstly, you describe the problem. Secondly, you show the way to solve it. This pitch type is your way to the big market.
To put it briefly, customers pitch is the way a seller communicated with their customers. That’s how shop owners and other retailers usually get the feedbacks. The main task of the pitch to customers is to understand their needs. What do shoppers think about the goods you sell and how to improve your shop? What do people like about the services you provide? These are the questions you should ask yourself when working on this type of pitches.
The thing is that a sale is a pitch by itself. Obviously, you won’t talk about the global market or how much money you are going to get from the sale… Although your audience is really different, the promo you create is still a pitch. It has the same rules. For example, create a story for your sale to grab the shoppers’ attention. Talking about sales pitches, you should create something people will love.
Shortly, employees pitch is meant to consider the ideas and the vision you have. It’s all about the company you are going to work at and the future of its workers. Make sure that your pitch sounds like you are already a part of the company’s story.
Without a doubt, getting a partnership is not easy. It’s extremely hard if you want to find partners in a big and famous corporation. For these simple reasons, you should be careful. This is the hardest type of pitches. Before all else, find the person you are going to talk to. Not everyone in the company is ready to spend their time on your ideas, so don’t be too obsessive. Keep in mind that partners pitch should be focused on your partners and their needs, not on your startup.
They say keep your friends close but enemies closer. There’s no secret, in 2018, businessmen have an open channel of communication with their competitors. During this pitch, you should stay smart, calm, and rational. All in all, talking to your competitors may help you to find a middle ground. It can be helpful in case you have common enemies.
It’s time to sum everything up. No matter which pitch type you decided to use, follow these simple tips.
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