How do I come up with the right pitch for my business?
I know I need to come up with something short and impactful, but it's hard to condense what we do into a line or two...although I am sure many entrepreneurs say that. And how do I know if my pitch is resonating with my target audience?
There are several ways to develop and deliver a "pitch". The perfect pitch is one where everything flows and connects with the audiences, generates further interests and you surpass expectations - simply put, "Neuro Marketing"
To come up with the right pitch, I'll recommend the 6 Point Slide Approach. I have used this many times and recommend it to my mentees.
1. Understand your audiences motivations and expectations
2. Why should they listen to you? - Your offering (Make your pitch conversational but impactful by sharing your journey's story) Keep it simple.
3. What are the mutual benefits? - Be clear on what you want, why and when you want it and what is in it for them.
4. Can you deliver? - When, how and with who?
5. How committed are you? - Expertise, Experience, Credibility, Creativity, Scalability and where applicable "The Team"
6. Can you prove it? - MVP, Financials (Revenue against Spend), Market, Organisational Structure etc
However, the concept of the elevator pitch is to get you a sit down meeting to take the conversation further - this should focus mainly on points 1, 2, 3 & 6.
This should help you deliver a near perfect pitch. Of course, to make it perfect, will depend on you. If they like you, they will believe you.
Finally, to know if this resonates with your audience, keep in mind who your audience is/are- who are you pitching to - Investors, partners, etc. Note the body language and measure the intensity and if they are asking open ended questions etc. All pitches need to be short, sharp, direct and factual keeping each bullet point to two paragraphs (2mins each).
I hope this helps. Feel free to connect if I can be of further help.
Before you build you pitch, I would recommend a few things and a structure which might help you create the pitch in the right direction.
Structure (this is for your preparation):
- Define the Problem statement (if any)
- Define the Goal
- Define the audience
- Define All the factors you can think of affecting this section of audience
eg: Demographics, Interests
- The find out which factors amongst this would influence your goal
- If the list is more than 5, then try to pick the 5 most important factors that would influence your goal statement
- Now you should have some words to formulate a story
About the pitch:
- I like pixar pitch as it tells a story and every body likes listening to stories
- It however depends on how interesting you can make it
- If time is short, elevator pitch can be used
- Do not try to address more than one area in your pitch, else you will lose the focus
- Once th pitch is written, it is always good to practice it with friends or family who are not aware of the product or the pitch, to see if you are able to ge ttheir attention
- Also dont miss on the fact that, sometimes ideas about these can come from outside the industry and people who work in it
Hope this helps
All the best!
When I sold products locally the best pitches weren't pitches at all. They were meaningful conversations which were steered towards what the customer wanted and then matching that up to what I offered at the time. So for you that might translate into asking questions related to your products and feeling out the answers that you are going to really need. That is how to build a pitch from scratch in any case.
The previous posts have great advice.
Look at videos on youtube or other sites to see how other people describe their businesses. check out some pitch competitions & enter some if there are any local ones.
Try pitching to people and see how they react.
Ask for feedback and listen without being defensive, so you can improve.
Be patient with yourself - understand that creating & delivering a pitch is a skill that has to be developed.
Write things down & watch how they evolve over time.
Think about why you decided to start your business in the first place - what are you passionate about in terms of how your solution will make things better & help people.
For pitch, I usually go in 3 steps.
1. Basic structure: 5 answers
1) Who we are? (includes name of your business)
2) What you do, in 1 sentence?
3) For whom you do it? (Target audience, primary business areas for corporate clients, etc.)
4) Why clients select you? (What differs you from competitors, or why people buy it - for non-competitive businesses)
5) What is the first step of getting your product/services?
2. Making it better
Read it. Try change you business name to some other - does it work? If the pitch works for everyone, tweak the answers until it works only for you. Cut out long sentences and words, avoid repeating - it's a short pitch.
Sometimes, you do multiple things and struggle about "what you do" thing. Tweak it for person you'll deliver the pitch, and get more versions ready for other cases.
3. Getting emotional/getting more impact.
Throw in some metaphors describing how the world will change if your business gets super successful. Every business has this "new better world" thing.
For inspiration - read Resonate by Nancy Duarte. It's basically for longer presentations, but helps a lot.
For clearing the texts - the first part of "On Writing Well" by William Zinsser.
The three crucial things for any business is
3. Internal administration, I.e financial management and co-ordination
You should know all the three aspect so that you can make your team work. If you can keep these three things intact, then you are in the right pitch.
After looking over these responses, I'm re-reading the question you posed. and it's somewhat ambiguous. I've built and operated a number of ecommerce sites - so this "pitch" is likely targeted at suppliers, partners/investors or potential customers. Could you elaborate a bit and also let us know, at least in general terms, what goods and services are to be provided?
First, start with something that you really believe is true about your business or the services you offer: (Quality, Ethical, Experienced, etc...). Then think about of customers (targets), Finally, complete your slogan with something that give it a good rhythm; remember to stay professional while adding rhythm.
A couple good books on the subject:
The Power of Why: Breaking Out In a Competitive Marketplace
Simon Sinek - Start with Why
Define your audience and the problem you solve for them. You might go to your existing clients and ask them what problem you solved and then try your pitch out on them to see what they think.
Definitely knowing your target audience helps with this. What is that you do? Who is your target audience?
Write a solid Value Proposition that resonates, differentiates and substantiates. Read more on my blog http://www.globalstrategists.com/blog/-what-a-value-proposition-is-and-is-not
What is your story? Who/what is the hero, the protagonist? What challenge is the hero facing and how is that challenge met/overcome? Without a story that resonates with your audience, content (your pitch) tends to remain flat instead of inspiring and becoming a sticky. Purchase decisions, whether for products or services, are typically made for non-rational (ie. emotional) reasons. Chart your golden circle and as Simon Sinek would put it, start with "why" (check out his Ted Talk, it will get your creative juices flowing.