Having a good pitch is crucial because it captures attention, succinctly communicates your value proposition, and can significantly influence decision-makers. A well-crafted pitch differentiates you from competitors and increases the likelihood of securing funding, partnerships, or other opportunities. In essence, it serves as the gateway to advancing your goals and achieving success.
9 Steps to Build a Killer Pitch
There are 9 steps to building a killer pitch, let’s break down each step.
- Problem
- Solution
- Company & Team
- Your Competitive Advantage & Value Proposition
- Business Model
- Market
- Competition
- Timeline
- What Are You Looking For?
Problem
Creatively and quickly state your potential clients’ problem(s) that your company will solve.
Solution
Explain your innovative solution to your prospective clients’. Briefly describe what it is you sell. Do not go into deep detail.
Company & Team
Tell your viewer a little about you and your team’s background and achievements.
Your Competitive Advantage & Value Proposition
Effectively communicate how your company is different and why you have an advantage over the competition. Explain your compelling value proposition.
Business Model
How do you expect to make money? Is there other value your company provides? What are your target customers? Your business model will help you write your pitch.
Market
What industry is it? How large is the market? How is the market share? What could your market share be?
Competition
Who are your direct and indirect competitors?
Timeline
Current status? Describe the milestones the company has achieved – customers, partners, funding, etc. Be careful, like a realistic reporter of your measurable successes.
Future plan? Where are you going in the near term? Who do you need on your team, what materials do you need, what resources do you need, and when do you plan to acquire them? Present a very realistic, well-conceived, well-organized set of milestones in your company’s future.
What Are You Looking For?
You may be seeking a funding round, or an advisory panel, or needing to build a prototype. Make your business trajectory clear.
Conclusion
A pitch should be a short informative story you can present to anyone at any time. There are many different ways to do a pitch but the most important things are to have an attention grabbing introduction, a problem, a solution, and a final ask.
Written By: Shayla Lofton