How to Pitch Startup Idea is the most significant thing for every business. Developing an interesting idea is an important part of any business plan. But what is more important than its development is to make it interesting enough to grab your audience’s attention. Your pitch is the single thing that could either get your business off the ground or plunge your idea into eternal oblivion. which is why it matters! Here are a few tips to help you pitch startup an idea that could well become a hit.
5 Effective Tips to Pitch Startup Idea for a Successful Entrepreneurial Journey
1. Make a Compelling Pitch
Before you get into any specifics. You need to understand the most basic foundation when it comes to learning how to pitch an idea: what makes it interesting? Shark Tank’s Robert Herjavec has given an advice on capturing the attention of your audience right from the start “You have 90 seconds, if you’re lucky. If you can’t make your point persuasively in that time, you’ve lost the chance for impact.
Facts and figures are important, but it’s not the only criteria, you must present in a manner that generates expertise and confidence.” There is no simple defined template or formula through which you can learn the art of pitching rather it is more of a learning process, a process of try and test.
Pitch Startup Idea: Your pitch is the single thing that could either get your business off the ground or plunge your idea into eternal oblivion
2. Know your Audience
Even though you’re pitching the same service or product every time, you can’t just memorize a few lines and go from there. Each opportunity is different and you’ll need to tailor how you pitch to the person you’re pitching, the social situation, and their level of understanding and interest. Author and business etiquette expert Jacqueline Whitmore considers pitching to playing an instrument “You want to memorize the melody so you can improvise variations and still sound authentic instead of rehearsed.”
When you pitch and idea, you want it to sound the same: tailor-made just for that person, but with a solid backing of thought and attention based on your experience.
3. Make it Unique
Once you understand how to make your pitch interesting and who your audience is, the next thing is to make your idea stand out from among the rest. At the very core of your pitch is the presentation or ‘pitch deck’. And while we’re going to go deep on exactly what should be in your presentation later on, the tools you use to build and show off your presentation are incredibly important. Powerpoint is so 90s, and if you’re selling a modern product to an informed user or pitching any VC you want something more advanced. Slidebean is one such option to solve this problem. It lets you create stunning, professional presentation in minutes using curated templates that have worked for Guy Kawasaki, 500 startups, the founders of AirBnB, and more.
4. Have Something for Display
There’s a reason that Apple stores let you play with every product they have on display. Behavioral psychologists have discovered that creating an ‘ownership experience’ by letting a potential buyer ‘try before they buy’ is a powerful way to close sales. You can use this same technique in your pitch. If you’re still in the design phase, creating a prototype or wireframes using tools like InVision, Marvel, or RedPen are great ways to show off the functionality and design of your tools without doing any actual coding.
If you’re making a physical product but haven’t actually created it yet, you can easily go to a freelancer marketplace like 99designs, Crew, Fiverr or Upwork and find a designer who can make a beautiful 3D rendering for you.
5. Make a Statement
This is a crucial moment in your pitch, and one where a lot of entrepreneurs and freelancers make a mistake. Your business model can be the most interesting or the most boring part of your company. After the excitement of seeing a problem, showing the solution, and then talking about the potentially millions of people that will want to use what you’ve got, going into the details of how you’re doing that can be tiresome and cause people to lose focus. Instead, keep this section short and visual (and if you want to explore validating the idea further at this point, start a blog to begin sharing your concepts with others to gather their feedback).
Explain your business model clearly with as few words as possible. Try to connect what you’re doing to another well-known company so that it’s easier to understand.
These were just a few useful tips to help pitch startup idea and make your business or startup a success story.
Recommended Read: Why You Should Not Miss TedxIslamabad 2018