Step by step to produce a successful pitch – WAU
The term pitch is used to describe a quick presentation about an idea, product or service. In the world of entrepreneurship, this is a very beneficial practice, especially for attracting partners and investors. Follow the steps presented in this article and make an impeccable pitch!
Entrepreneurship involves much more than relying on innovative ideas and finding a market niche that values them. After all, as much as running a startup depends a lot on the entrepreneur’s resilience and willpower, it is undeniable that success is directly related to fundraising, partners and customers.
As you already know, this attraction only becomes possible from your ability to sell your idea and convince potential investors that financial returns are a real possibility. With regard to customers, convincing must address the advantages brought by their products or services.
But, after all, how to do that? One of the most common and efficient practices is making a pitch. Don’t know what this is or do you intend to delve into how to execute a successful pitch? This text was made for you! Throughout the content, we will answer the following questions in detail:
Curious? Continue reading and learn more!
What is pitch?
Pitch is the term used to describe a quick presentation of an idea, product or service. In the midst of entrepreneurship, it is common for the targets of such exposure to be people you want as partners in your business. This is a practice encouraged in most events that connect startups and potential investors.
It is important to note that the pitch is completely different from a business meeting, since closing sales or formalizing partnerships is not part of the process. They can even happen, but the pitch is just the initial step to attract interested parties and start a longer and more complex conversation.
Therefore, the duration of this type of presentation is usually reduced, even to improve the communication dynamics between the presenter and the participants. Too long a pitch can result in the loss of interest from those involved and make it difficult for your company to attract partners.
Although some of these exhibitions last up to 30 minutes, they should ideally be completed in between three and five minutes. The idea is for the entrepreneur to explain, directly and objectively, the objective of the project, the market in which it operates, the solution offered and its plans in the short and medium term.
To do this, it is essential to have a thorough knowledge of the characteristics of the business you want to launch. After all, the confidence that the presenter exudes can be the differential to attract the attention of the right people. At the end of the presentation, some questions should be made clear to the audience. Check out some of them:
- What problem will be solved by the venture?
- How is the market and how is it possible to exploit it?
- What is the company’s competitive advantage?
- What is the target audience?
- What are the overall ROI expectations?
What are the main types of pitch?
The concept of pitch defines some standard characteristics, such as the objectivity of speech and the short duration. However, this is not an exact science.
Depending on your intentions and your knowledge of the audience, nothing prevents you from personalizing the presentation. It is no wonder, therefore, that there are different pitch modalities. We will show the main ones below.
Imagine that when you enter an elevator at the end of a conference, you are faced with a large potential investor. If you want to present your ideas, you will have a short time until the door opens and he goes on his way. This scenario inspired the creation of the term elevator pitch – or elevator pitch.
This model proposes a presentation between 30 seconds and one minute. For this reason, it is important to focus only on the most relevant aspects of the undertaking in order, who knows, to achieve a future conversation in more favorable conditions.
The one-sentence pitch proposes something very simple and, at the same time, complex. The idea is to describe your business and draw the attention of possible partners using only one sentence.
It may seem complicated, but if you know deeply the peculiarities of your venture, you can search for the most relevant keywords about it. If used well, they can engage the listener and allow for a longer conversation.
The pitch deck refers to the use of visual aids to enrich the presentation and increase audience engagement. In this case, the entrepreneur uses resources such as Prezi and Power Point to support the information present in his speech.
However, you need to be careful. Everyone knows that slide shows can take the audience’s attention or even bore viewers. So it’s important have great ability to coordinate the passage of the slides with your speech, so that they serve as an additional element, not a main one.
If you are already advanced in the branding process, it is a good idea to use this template to illustrate the presentation with your visual identity. Displaying the logo and colors related to the business can give credibility and demonstrate that you are really dedicated to taking the idea forward.
What are the steps to produce a qualified pitch?
Now that you know the basic requirements for taking the pitch and understand how it can help your project take off, it’s time to take action. Therefore, as promised, we will dedicate the rest of the text to give detailed tips on the necessary steps to make this presentation with mastery. Follow!
Structure a plan
Improvisation is a resource that can save a presentation, but depending on it can ruin everything. So, structure your pitch skeleton in advance, starting with defining your goal. Do you want to attract customers, partners and investors or is the goal just to increase awareness about your brand?
Answers to questions like these should guide your planning. As it is a shorter presentation than the traditional ones, knowing exactly what you are going to say is essential for your efficiency. After all, it is necessary, in a nutshell, to pass various information to the audience.
Study your audience
Knowing the audience that will honor your presentation is essential for you to establish a positive connection with them. This ranges from the language used to your gestures, including elements such as the duration and focus of the pitch and the use of visual aids.
You must understand that if you are dealing with a group of CEOs, the approach must be different than that used to address a group of other entrepreneurs. Even if you can delve into the more individual characteristics of the audience, even better.
Knowing the trajectory of the spectators, the companies they worked for and even their personal preferences can generate insights for the execution of an extremely efficient pitch.
Be clear and objective
Adopting an objective language is key to the success of a pitch. After all, it is important to remember that you have little time to pass on a reasonable amount of information. That said, there is no point in filling time with complex data, as this will make it difficult for the audience to assimilate.
The tip is to focus exclusively on what your audience most needs to understand in order for you to reach your goal. Thus, if you have a list with 10 metrics relevant to the future of the enterprise, filter them and use only those considered essential. There is no room for frills, just information.
Explain the problem and its solution
However short and objective the presentation may be, it is essential to find space to explain the problem that your company seeks to solve and how it intends to do so. At this point, it is crucial that you have knowledge about the subject, since without it, it will be difficult to pass on the confidence that investors are looking for.
Approach your business model
For you to reach your goal, the audience needs to have a sense of how you intend to conduct the business. So, come up with a short, straightforward explanation of your business model. Talk about the channels that will be used, the audience you want to reach, the partnerships already established and whatever is most relevant.
Talk about your competitors
Market knowledge is essential for the success of any business, therefore, make it clear that you have this attribute. Name some of the main competitors, name your positions in the market and talk briefly about how your endeavor can overcome them.
Present a realistic financial projection
High scalability, low cost and potential for rapid growth. These are some of the characteristics most sought after by investors in startups. Therefore, the pitch must address the financial projection of the business, citing elements such as the costs involved and the potential for collection in 5 years.
However, don’t be tempted to overdo it. It is important that the projection is perceived by the audience as realistic, or your entire project may lose credibility.
Be ready to answer questions
If you have planned to perform the pitch, it is natural to master even the topics that will not be covered in the presentation. This is essential for interaction with the audience, who may eventually ask questions during your speech or shortly thereafter.
Remember that these questions should be encouraged, since by doing so, the audience demonstrates that they are somehow interested in what you are saying. It is essential, therefore, that you have answers on the tip of the tongue, even to reinforce your mastery of the subject.
Mastering a pitch can be an important step for you to attract stakeholders to your business. As it is a short presentation, it is essential to prepare yourself to pass on information in an objective way and that does not leave doubts about your knowledge on the subject. The intention is to convey your business idea and make your potential clear.
Pitch is just one of the many presentation modalities you have to face in the business world. So how about going deeper into the subject? We have separated a free kit for you to become flawless in presentations. Check out!