#BusinessEducation Principals of efficient Pitch The aim | Idea factory

#BusinessEducation
Principals of efficient Pitch

The aim of a pitch is to present a business idea successfully and to help attract necessary resources, like investments, partners, or employees. Though there is no single formula of how to make a selling presentation, there are important principles you should follow.

Prepare more than one versions
It’s preferable to have several pitch variants as sometimes there is no possibility to communicate with investors directly. Frequently you have to speak through a third party: their colleagues, partners, or even a personal driver. It’s important to convey your pitch to all of them.

Bright start
According to scientific research, a human brain processes information primarily via instincts. Therefore, in order to attract one’s attention and make people listen to you, come up with an interesting and creative beginning. Additionally, formulate striking statements and jokes in advance. This will help you perform charismatically.

Rehearse the performance
Test different versions of your pitch. You can present it to your relatives, friends, or colleagues. It’s necessary to feel more assertive and less nervous.

Choose the frame
Frame is a point of view that creates a communication tone. There are 4 frame types: a power frame, time frame, analytics frame, and reward frame. If you own the frame, you run the communication.

Speak about competitors
Competition is everywhere. It’s important to tell the investor about your competitors. Otherwise, when saying you don’t have any, it signals businessmen that you have not examined the market thoroughly.

Bet on your team
A team is the chief asset of your project. You should tell the investors about the team members: what experience they have, what projects they have participated in, what way each of them is unique. It’s worth sharing not only achievements, but also mistakes, specifying how the team corrected them.

Mind the time
As the saying goes, in order to draw one’s attention, it’s better to speak less. You may use a 7-word strategy within which it’s possible to formulate an idea in 7 words. Remain only the main message of your speech. Don’t overload an investor with details in attempt to tell them everything. It’s better to set concrete examples and memorable statements.