In this era of blooming entrepreneurship, presentation and pitching skills have become very essential. A business pitch is a lot more complicated than it simply seems. It must be logical, substantiated with data and emotions, countering possible opposing ideas and impressive to the adjudicators. Simply said, it needs “smart” preparation and we have just the techniques for you.
1. Making the main Claim
It’s important that each business venture has a focused idea, a claim that defines the problem they are solving. It should be well though and concise, limited to a sentence and structured in a fancy manner. It should have a singular claim and the supporting evidence in the same sentence and should be repeated enough to create recall ability in the listeners. An example could be: This venture can optimizes operations using a top down approach.
A common mistake made by pitchers is that they try proving too much, however, there is always a single key solution that a business should be keen on providing.
2. Using the P.R.E.P model
It is important to substantiate the core assumption of the business using the P.R.E.P model.
Point, reason, example point. Make sure that you explain core assumptions using considerable reasons and each reason carries an example that substanciates the core assumptions. For example, this venture can optimizes operations using a top down approach.
Reason: It enhances visibility of progress on projects to all governing body. Example:Completion and incompletion of tasks is notified to governing figures.
Point: This venture enhances visibility of top management over the progress of projects.
In this manner, each point is elaborated, justified and linked back to the core assumption and it is very hard to counter a point so well made.
3. Prepare a Negative Case
It is always best to assume opposing ideas on the core assumption/solution being presented. Most renowned presenters always make a negative case, a case that defines the disadvantages of the solution being presented and inculcate all answers to all such assumptions in their pitch. This removes all uncertainty and doubt that an adjudicator may have and An example of negative argument: Top down approach may be unnecessary and a waste for the upper management.
Counter: It will ensure efficiency by managers as a higher accountable mechanism will be created.
4. Addressing questions
Even after much preparations, if questions do come it, it is important to deal with them in a certain manner.
One should never lie, under any circumstances, it is better to say that you don’t have accurate knowledge, whereas, lying kills any chance of getting the investment or selected.
One may try giving the most suitable answer, acknowledge uncertainty and approach for a feedback later, however, lying is discouraged under all circumstances.
5. Finding the Human in Investors
It is important to logically prove the validity of one’s business, however, it is even more important to emotionally connect the people’s need.
The pitch should have reasoning that justifies human instinct as well. When the pitch ends, the audience should have a good feeling about it. One could start by telling a story, creating a hook or quoting personal examples. The pitch can’t be a robotic voice, it needs to have an amiable tone for the judges.
