Hey I got an idea ! Let me share it with you, This is where pitching begins : )
Cambridge dictionary defines Pitching as a speech or act that attempts to persuade someone to buy or do something but it is a lot more than this. A dynamic process not just between a start up and an investor but at every phase in our daily lives like your friend trying to convince you to go on camping together this vacation or a shopkeeper briefing you why you should buy that blue jeans with floral print on it .
Pitching the right way can help you win 95% of the conversation so let's walk through the 5 steps that can make your pitch more effective than before.
1) Understanding the Why, Who and How
Kickstart your pitch planning by answering these three questions.
Why – understand why there is a need to change something or bring about an idea. Recognize the main problem that you want to work on followed by several minor problems surrounding the main issue in hand.
Who – Target audience , identify the right target population that is affected by the issue in hand and try to put yourself in their shoes . What exactly do they want? or what exactly can we do to alleviate their problem .
How – the problem is defined and the target audience is set . Understanding the situation from the perspective of all the stakeholders before coming to a solution . What can you bring in and how can you lead the change !
2)Plans out the Actions
Premiere step helps to understand yourselves your problem , your customer and your solution.
After that it's time to chalk down the solution realistically .
1)Key advice for that is to be honest with yourselves about your current situation .
2)decide on the product or service you what to pitch considering the target market selected in the previous step,
3) Then look for the competitors and what makes you unique amongst them.
4) Next is look at the traction what have you done till now and what is there you want go ahead with in your plan
5)Finally, the crucial step finances Latest statistics by the US Bank reveals that 8 out of 10 companies fail within 5 years because of poor cash flow resulting from ineffective financial planning.hence make sure you have a well defined financial plan ready if not the funds this will develop confidence in the person you are pitching about your plan’s success.
3) Pitch content pitch graphics
Your pitch deck/sides used during the pitching play a significant role in persuading the listener . Points like traction and USP(unique selling proposition ) for business pitch and wow moments for personalised pitches can help the listener/investor gain confidence in your plan .
The content should be crisp and not wordy or information loaded. Try to have only 3 to 4 points on one slide. Many unrelated figures/statistics should not be on one slide as this will confuse the audience which data to focus on. Another thing to be taken care of is the colors and font used. According to font psychology font style Serif represents trust and respect while Sans Serif shows modernity similarly colors like red and orange show warmth and joy while black and purple show luxury and royalty .Right set of colors with the effective font can act as a catalyst in the process of pursuing the investor.
4) Communicate it Right
The delivery or the way we communicate is an important step here. Simple tricks like a warm smile and firm handshake ,Right posture and decent dressing according to the event can work wonders. While speaking the presenter should sound confident and show belongingness towards the idea. Tone and intonations can bring life to the content and keep the listener intact throughout the pitch. While discussing the problem showing surprising statistics, story telling or making the person experience the problem can help to connect better and realize the need of your solution. Another thing to be noted is the content, it should be authentic and time constraints provided should be respected.
5)The Final mile stone
The final step is the feedback and questionnaire. Be vigilant to the feedback from customers and questions asked from investors and observe a pattern if any . For example if most of the customers appreciate the same feature or most of the investors are asking to explain the logistics more briefly this means the content you presented does not clearly convey its message in the logistics area or the feature appreciated by many can be more advertised and improved in future. Sometimes knowing the loopholes can help us prepare for the better and improve continuously in the dynamic market .
Here were the 5 steps to turn your pitch from ordinary to extraordinary . So next time you get an idea, pitch it in the best possible way and turn that idea into reality.
Until then stay safe , take care : )
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