Believe it or not, pitching is one of the areas where most start-ups tend to fall short. A start-up with a brilliant idea may lose out on the funding required because their pitch was not one which could be remembered. The members of the panel which decides which start-ups to fund read and listen to proposals of thousands of start-ups; what is important that the pitch stays in the memory of the panel (made of potential investors, or founders of accelerators) members for long after, ensuring that the start-up is selected to be taken forward.
Another reason why pitching is important is because it shows clarity. The foundation on which the start-up is built should be clear within the mind of the person pitching the idea. This shows the panel that the individual is convinced of the idea, and has a good idea on how to take it forward, which in turn, makes them more confident that the start-up will be a good investment.
The most dreaded part of the pitch is when the potential investor asks, “What kind of work do you do?” While the idea may be clear in one’s head, when asked to explain in a way which decides future funding, people tend to get scared and stammer, or begin beating around the bush. This only displays confusion and incoherent thoughts, which result in the start-up being dismissed.
Despite how frightening all this may sound, pitching is not that difficult. A calm and collected mind, along with the other pointers given below, can help grab the attention of the investors and get the funding needed.
- Write down your pitch
- Before saying it, make sure you have written the points in the order in which you want to speak. No need to write down full sentences; just jot down the pointers, so you are clear with what to speak.
- Practice well
- Make sure that before you speak in front of the panel, you have practiced your pitch in front of the mirror.
- Be clear with the idea
- Make sure you are clear with the idea on which your start-up is based on, so you can easily answer any questions.
- Keep calm before the show
- Do not overeat or drink too much out of nervousness before the pitch. This only results in being uncomfortable in front of the panel, which can be mistaken as under-confidence.
From all of us here at Z Nation Lab, happy pitching!