Pitches are everywhere, whether you’ve noticed it or not. Successful people are always pitching, whether it’s to their suppliers, distributors, investors or family members, the pitch makes them stand out and rallies motivation for them. A great pitch is irreplaceable, as it aims to convey the organisation’s purpose in a personable manner.
We care about great pitches. The leaders behind them often play to our personal needs, earning attention by telling a compelling story. Three concepts can be highlighted in better understanding what makes a perfect pitch.
Firstly, you must undertake research to better understand the market.
Competitors should be evaluated in terms of similarities and differences between their products and services. By understanding your competitors’ offering you are better suited to negotiate with a knowledgable affiliate, whether it be a client or a private investor.
Private investors should also be researched when crafting a pitch, so as to deliver the most compelling pitch possible. By understanding the investor’s interests and particular benefits they would receive from investing. Besides conveying your personal forecasts, the pitch should be used to excite the investor on a personal level.
The clients are the people you’ll be selling your products and services to, so you might consider placing special focus on these people so you can cater better to their specific needs. The importance of client research involves linking your prospects personally to your brand with help from your story.
By better understanding client’s needs, you can better personalise the value created by your company for the client in the pitch.
The 3D Process
Finally, the 3D process can be utilised to produce and design the final pitch.
The first D, Draft, involves collating all aspects of your business that might be noteworthy enough to be included in the pitch.
The second D, Devil’s Advocate, requires a trusted friend or associate to look over your draft. Their purpose is to provide a second opinion on the proposed pitch components and narrow down the list. After this step, you should have a refined draft, best suited for the final delivery.
The third and final D, Deliver, involves perfecting your pitch. You should practice until you are completely confident to deliver a successful pitch when the pressure is on. If you pitch perfectly, you should not have a problem winning over the client or investor. You have demonstrated your usefulness.
Understanding the theories outlined in this post will assist the ambitious, pitch perfecting entrepreneurs. By researching the market and following the 3D process, you will be in a perfect position to improve your pitch.
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Urban Foundry is a Glasgow-based organisation that promotes startups in Scotland and the rest of the UK.