Introduction

A business pitch is a presentation by one or more people to an investor or group of investors, though it can also be an email, letter, or even an impromptu conversation.

The purpose of a business pitch is to convince an investor or a group of investors to believe that your idea/ solution is a feasible and viable option for a problem.

The ability to make a good pitch is essential for an entrepreneur and imparting such knowledge to children at a very young age develops entrepreneurial skills and also provides them with a broader perspective.

Steps of making a Business Pitch

First, introduce the problem to your investors, try building a story around the problem to emphasize why it is such an important problem that needs to be solved.

Then proceed to explain how you (and your team) would solve the problem. You can also compare existing solutions if any, available in the market and compare how your solution is unique, effective and efficient.

Provide the investors with key metrics. Metrics can be user feedback on the prototype of your solution, technical details of your solution, the market potential for your solution, your business model etc.

Lastly, introduce your team and key players that have helped you develop the solution to the investors to assure them of the knowledge capital you have on your side.

Elevator Pitch

A Business Pitch usually takes a couple of hours of discussion with investors. Investors typically spend almost a day going through your idea/ solution/ business before investing their money. Both you and the investor(s) will spend a considerable amount of time going through your plans together. If you are unable to convince the investor(s) about the feasibility of your Idea/ solution, then all your efforts can go waste.

Have you ever imagined that you could convince the investor(s) to believe that your idea/ solution is worthwhile in a very short duration of time? Do you know that an elevator pitch allows you to do just that. An elevator pitch, elevator speech, or elevator statement is a short description of an idea, product or company that explains the concept in a way such that any listener can understand it in a short period of time.

An elevator pitch is meant to last the duration of an elevator ride, which can vary in length from approximately thirty seconds to two minutes. Therefore, the main focus of an elevator pitch should be making it short and direct. The first two sentences of any elevator pitch are the most important and should hook or grab the attention of the listener. Information in an elevator pitch, due to the limited amount of time, should be condensed in order to express the most important ideas or concepts within the allotted time.

Deliver your elevator pitch using simple language, and avoid statistics or other complex terms that may disrupt the focus of the listener. Please watch the below video of the elevator pitch for edible spoons.

Tips for making a good pitch

Always be confident, concise and comfortable.

Practice your pitch again and again. Practice in front of the mirror, friends, family, teachers etc. and always be open to feedback.
Appearance is key. Remember, first impressions last, so always dress for the part.
Fact not Fiction. Always stick to the facts, do your research and know your product.
If you don’t know everything then find someone who does. It’s extremely important to have a good team.
Lastly, smile and enjoy yourself. What’s important is that you’ve come this far. If you succeed then nothing like it, but if you fail then that’s even better. Learn from your failures and mistakes as you’ll only get better with time.

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