So...
You've made it this far through the Discovery Challenge (DISCO) You know your personalities, your business idea, your financials, operations, market research, marketing methods and your target market....
Now you need the funds for your idea.
In this walk through we're going to look at Pitching; which requires two things: correct mental attitude and preparation.
Step one: Find Drive and Direction with Your Business
Ask yourself these questions:
Why am I doing this business idea?
Where do I want to take this business?
Where do I see the business in 5 years time?
What makes me better then my competition?
This is what is known as "Inner Game" or "Positive Mental Attitude" some of you may already be familiar with this - but it basically involves being confident and sure-footed about your business, not just on paper, but in your thought processes and attitude towards your business. It's essentially the perception of coming out on top and having the positive focus and drive on how to get there; all that should come across in your pitch and business plan.
What's your Unique Selling Point? (USP)
Chances are you won't have gotten this far by not knowing your USP, so make sure you can write it down in one sentence and that others who know nothing about your business are intrigued.
What's your Competitive Advantage? (CA)
Basically what makes you different from the competition? Why are you better than them? And what "extras" do you offer?
Watch the Pros and the Not-so-pro...
Here are some videos we show every year; good and bad examples of how to and how not to pitch.
How to...
How to....
Nerves...
Just....no....
Relax
The Lion's Den is designed to put you in the spot light which can be scary for some, just make sure you keep focused. No coffee beforehand!
Voice Issues...
Talk clearly, slowly and with a strong level of enthusiasm.
If you mumble, rush through it or sound boring you aren't communicating as precisely as you could be.
Look into my eyes...
Eye contact is very important; "windows to the soul" as a teacher of mine used to say. Eye contact is a strong part of communication and it almost certainly engages your audience; making it feel almost personal.
Don't Argue.
You look bad so don't do it.
Be Sure.
Make sure you know your facts, and try not to back track, forget things or improvise to fill a gap. People can tell when you're being insincere.
If you follow all these steps you should do fine - if in doubt: KISS
(keep it simple stupid)
Remember...it's a Pitch
There are massive differences between a pitch and a presentation:
Pitches are quick, concise and a lot like a TV advert...just enough information to get you curious, but sell you the idea.
Presentations are to display detail and fully explain a business model, usually a lot more detailed, diagrams, pictures etc.
Remember, you have 30 seconds to convey the following
Say where the business idea came from; your USP and CA; any significant successes with market research/sales; what you need to take the business forward; and where you see yourself in the future.
Remember to make eye contact, hold a positive attitude, speak slowly, clearly and confidently.
If you have ANY questions drop us an email:
the.egym@gmail.com
Good Luck!
James
