Your pitch is not just about showing your product; it's about selling your visionGuy Kawasaki
Once you have the plan in place, it is time to pitch it. But what is a ‘pitch?’
What is a pitch
A pitch is a persuasive presentation used in business to communicate ideas, gain support, secure investments, and drive decision-making. It serves as a dynamic tool that combines effective communication, research, storytelling, confidence, and adaptability to engage various audiences in different business scenarios.
The content of a pitch depends on the specific product, service, or idea it aims to promote. For instance, in a pitch for a startup company seeking investment, crucial elements typically include the business plan, key metrics, target market analysis, and financial goals. These components give investors a comprehensive view of the venture's potential and profitability.
On the other hand, a pitch for a creative idea centers on showcasing the product's unique attributes its visual and conceptual appeal, often incorporating elements like concepts, storyboards, and sometimes budget estimates. Such a pitch aims to captivate the audience's imagination and demonstrate how the idea stands out in a competitive landscape.
Why do we use them
Pitches are used for several important reasons. These include:
- Communication Pitches help convey complex ideas or proposals in a clear and compelling manner.
- Decision-Making: They are a tool to influence and persuade decision-makers to align with your goals or vision.
- Funding and Investment: Pitches are commonly used to secure funding from investors, lenders, or stakeholders.
- Business Development: They play a crucial role in developing partnerships, securing contracts, and expanding opportunities.
- Innovation and Improvement: Pitches can be used to present new ideas, innovations, or improvements within an organisation.
Who presents a pitch
Pitches can be presented by various individuals or groups, depending on the context. The following are examples of people who use pitches.
- Entrepreneurs and Startups: Founders often pitch their business ideas to potential investors or partners.
- Sales Professionals: Sales teams pitch products or services to potential clients.
- Project Managers: Project managers may pitch project plans to stakeholders for approval.
- Marketers: Marketers pitch advertising campaigns or strategies to clients or management.
Skills required for ‘pitch’
Effective pitching requires a combination of skills and attributes, including:
- Communication Skills: The ability to convey ideas clearly, persuasively, and enthusiastically.
- Research: Understanding the audience, market, and competition is essential.
- Storytelling: The capacity to create a compelling narrative that engages the audience emotionally.
- Confidence: Confidence in your message and delivery is key to building trust.
- Problem-Solving: The ability to address potential concerns or objections proactively.
- Adaptability: Adjusting the pitch based on audience feedback or changing circumstances.
- Visual Aids: Proficiency in using visual aids like slides or demonstrations to enhance the message.
- Time Management: Staying within the allocated time frame while delivering a comprehensive pitch.
- Listening Skills: The capacity to actively listen to the audience's feedback and respond appropriately.
While a pitch and a presentation share similarity in that they both involve conveying information to an audience, they have distinct differences in terms of purpose, format, and content. Here's a breakdown of the key differences between a pitch and a presentation:
| Types of differences | Pitch | Presentation |
|---|---|---|
| The purpose | The primary purpose of a pitch is persuasion and action. It aims to convince the audience to take a specific course of action, such as investing in a project, buying a product, or supporting an idea. Pitches are often focused on obtaining a favourable decision or commitment from the audience. | Presentations, on the other hand, can have a broader range of purposes. While they can also aim to persuade and inform, presentations may be more informational, educational, or descriptive in nature. They can be used to share knowledge, report progress, or provide an overview of a topic. |
| Length and Format | Pitches are typically shorter and more concise. They are designed to capture the audience's attention quickly and maintain their interest throughout a brief and impactful presentation. Pitches often have a specific time limit and may be structured to include a compelling opening, key points, and a call to action. | Presentations can vary widely in length and format. Depending on the topic and the audience's needs, they can be shorter, like a pitch, or longer. Presentations may include more detailed information, explanations, and supplementary materials like charts, graphs, and data. |
| Content | Pitches tend to focus on the most critical and persuasive elements of the message. They emphasize key benefits, value propositions, and reasons for the audience to act. Pitches often incorporate storytelling and emotional appeals to engage the audience's emotions. | Presentations can cover a broader range of content. They may include background information, context, historical data, and comprehensive explanations. Presentations are not always centered around persuasion and can be used for educational or informational purposes. |
| Audience Engagement | Pitches prioritize active engagement and interaction with the audience. They often encourage questions, feedback, and dialogue to address concerns and objections in real-time. The goal is to achieve a specific outcome by actively involving the audience in the decision-making process. | Presentations may also encourage audience engagement, but the level and type of engagement can vary. Some presentations may be more one-sided, with the presenter delivering information to a passive audience. Engagement strategies in presentations depend on the presenter's goals and the nature of the content. |
Knowledge Check Activity
There are many ways to pitch your product to investors. In Shark Tank and Dragons Den entrepreneurs pitch to investors the benefits of their product, how the product works, and the numbers behind the product (production cost, revenue made, sales etc.) This is an example of a pitch of an entrepreneur who is passionate about their product but is lacking in some areas the investors are looking for when investing in a product.
Watch Shark Tank US | Mark Cuban Calls Jax Sheets The Best Pitch Ever (10:02 minutes)
Engage the audience! Start strong in a form of a question e.g. “Have you ever wanted to fly? Well now you can with this ‘product name’…. “Aren’t you sick and tired of spending all your money on food, well now you don’t have to introducing ‘gardening’.
Starting with a question can peak early interest from the audience as they ask themselves “Yeah, I have wondered why…”
Strong Visuals! Eye-catching slides increases the chance of engagement from the audience and investors.
Practice, Practice and Practice! Investors (and audience members) can sense a lack of practice. Once you’ve completed your pitch deck, run through the presentation over and over, don’t be afraid to bring cue cards up with you.
Knowledge Check Activity
