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Shalini is starting her own online retail business. She’s sourcing local, organically-grown produce from farmers and giving them a platform to sell it at reasonable prices. Shalini has a meeting with a small-scale investor who’s interested in her idea. She has to convey her idea well so they believe it’s worth investing in.
To pitch an idea to an investor or a client requires finesse, in-depth knowledge and preparation. Just having a good idea isn’t enough. You need to go the extra mile and present it in a way that leaves a lasting impression.
What you need to create a compelling, memorable pitch is excellent writing and speaking skills. Communication is an important foundation skill in a professional setting.
Discover what you need to pitch an idea that gets your foot in the door.
How To Pitch An Idea
There’s no one way to pitch an idea. But there are a few things you can keep in mind when you want to pitch your idea. From the type of language you use to researching your audience, you have to be mindful of several factors. No two investors or clients will be the same. It’s up to you to decide how you want to tweak and modify your pitch for the audience.
You have to prepare in advance and write your idea to flesh it out. You may not use the entire corpus of material you have. But what you do take to the meeting should be enough to convey your message and intention.
Here’s how to pitch your idea:
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Know Your Audience
A winning pitch is tailored to its audience. Read up on the people you’ll be presenting to. You may have created an amazing deck, but if you don’t know who you’re pitching to, it might not work as you expect. If your audience is senior members of an organization, your pitch must be tailored accordingly. Sometimes you may have to keep it to the point and make it simple and easy to understand. But it also depends on what kind of pitches your audience expects. They may invite creative and out-of-the-box ideas. Researching beforehand will save you a lot of trouble.
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Define The Problem You’re Solving
With every business idea, the point is to solve an existing problem that no one else has thought of. Or it may be a better way to solve a problem that already has several solutions. The first step, in this case, is to define the problem you’re trying to solve. This will set the pace for the rest of the pitch. You can build your entire deck on the what, why and how of this problem. Putting things on paper is much easier than execution. If you can put things into perspective, it’s even easier for the audience to understand.
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Use The Art Of Storytelling
Storytelling is one of the key skills you need to pitch a business idea. What you need to do is personalize your deck. Simply stating key points and summarizing information isn’t enough. You have to add certain elements that make your pitch relatable with relevant content. Storytelling draws people in. They’ll find something they can identify with, making it even more appealing and memorable.
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Reference Visual Aid
Visual aids can elevate the process when you have to pitch an idea. Using slides, audio, video, memos or handouts with relevant information adds to the whole experience. People are more likely to retain information if you give them something more than just a normal presentation. If they can take something with them, even better. Not only will it help them remember your deck but also may encourage them to reach out to you if they have questions or queries.
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Leave Room For Q&A
The ‘how to pitch a business idea’ 101 includes keeping aside time for a question and answer session at the end. You may have a lot to say and explain. But the audience will also have a lot of questions about your pitch. Going prepared for questions and answering them diligently will enable you to leave a lasting impression.
If you want to pitch a business idea, you can start off with these key points. Remember to be confident, write well and speak effectively. Your tone, pitch and volume is just as important as the content of your pitch. Your body language and whether you’re making eye contact with the audience factor into the entire process.
Harappa’s Method For Effective Communication
Harappa’s Speaking Effectively and Writing Proficiently courses are based on the elements of effective and impactful communication. Learn how you can make an impact with your words. Learn the art of storytelling and deliver a winning pitch in your next client or investor meeting. Frameworks like the PAM (Purpose-Audience-Message) and the Pyramid Principle will teach you how to be succinct, tailor your messaging to your audience and leave a lasting impression. Pitch your idea with finesse with our curated courses!
Explore Harappa Diaries to learn more about topics such as Sales Skills, Elevator Pitch, Pyramid Principle and Sales Negotiation to communicate with impact.
