Introduction
As an aspiring entrepreneur, finding people who trust in your vision of making a dream come true, a mindful idea to an active reality, a risk to an opportunity of gaining profits and making a difference is an essential necessity. A lot goes into the process of making something happen in the commercial sector and convincing people that your ideas, methods and the solution have the potential of revolutionizing how people will perceive that problem and solution in the future.
Possession of any potential business idea or solution isn’t enough. One has to learn to use the art of convincing people with their wits and a proper business pitch. I’m sure this word ‘pitch’ sounds familiar to all the fellow entrepreneurs and professionals out there and why wouldn’t the word ring up some memory bells, after all shows like Shark Tank, TVF Pitchers and Silicon Valley have ignited the spark of BYOB.
With the advent of the startup culture and concepts like Think Tanks, many potential entrepreneurs all over the world have come forward with their ideas and started gathering rich believers for that big step on the pedal and moving forward, making history. So, in today’s class we will learn about the art of convincing people in the business line through pitches. But before we begin, kudos to the premium marketing solutions providers and advisors in Bhopal; Wisdom Visuals. So without any further ado, let’s present!!
What is a pitch?
A pitch is a kind of presentation that you as a potential entrepreneur has to present in front of a person or a panel of people which could be an esteemed panel of investors (also called as ‘Sharks’ by the Shark Tank fanclub!!), people (a democracy who decides to invest or try your product/service via kickstarter campaigns) for the sake of convincing them about your solution to a particular problem statement.
A pitch involves many presentation elements depending on the audience, purpose etc.. An entrepreneur has to keep in mind the factors in his/her pitch because the pitch is what defines the first and last impressions about you as an entrepreneur and your business proposal. Based on your pitch, you would be able to acquire some sort of funds and investments that could help provide support and resources for your business to move forward.
To know more about a pitch and what you as an entrepreneur would need to consider in order to make a pitch look like a pitch instead of a circus, you need to reach out to Wisdom Visuals, the number-1 place for your business solutions.
What is the role and importance of a pitch in a business?
The role and importance of a great pitch can be witnessed through reality shows like ‘Shark Tank’ (overseas) and ‘Shark Tank India’ (India) where if we specifically talk over the Indian Shark Tank, then we have observed the amount of entrepreneurs that have reached out with their business ideas and pitches, based on which fellow panel of esteemed entrepreneurs like Anupam Mittal, Aman Gupta, Vineeta Singh and Namita Thapar have provided financial and guidance support.
A pitch acts as a move that defines your first and last impression as a business professional. Without a proper business pitch, you cannot even dare to imagine having any kind of extra support. To understand this with more clarity, let us provide you with one sample case study of ‘Altor’, an IoT-based product startup that grabbed the golden chalice via the platform of Shark Tank India.
Altor is an IoT product-based startup that came to Shark Tank India with their proposal of revolutionizing the motorbike helmet as a next-gen product segment by integrating IoT in-order to provide its owner with sophisticated perks with safety being the primary priority.
It proposed with their business pitch presentation which included an actual presentation, their app working with real-time analytics and demonstrated the helmet’s working and its features through live demonstration which convinced the panel further and they also told the inspiration behind making this product which was to ensure that there would be less number of casualties by road accidents .
With a legitimate problem statement which required a solution, a pitch presentation with live demonstrations and all the prerequisite information right in front to exhibit genuine transparency, they proposed the panel to invest in their company an amount of 50 lakhs INR for 5% equity in their venture. A phase of negotiations later, both the parties settled for the same amount but for 7% equity. This financial and professional investment was being provided by Aman Gupta and Namita Thapar.
So you witnessed the wonders of a legitimate business pitch? Enough to convince you, right?! Well, if you still need some more, then how about you reach out to Wisdom Visuals, Bhopal’s premium destination for business solutions across many scales.
How to create a great pitch?
Now that we’ve sold you the idea of having a business pitch, how about we also teach you the art of creating a great pitch?! Well, take a notepad and note down the ingredients.
In order to make a pitch, you need to take care of the following:
Attitude
Proposition
Information
Long-run endeavors
We combined it and personally call it ‘APrIL’ (APRIL), where;
‘A’ stands for Attitude; As an entrepreneur, you should understand that attitude is everything. This aspect covers your presentation etiquettes, the tone adjustment and other things that are related to the visual and audio appeal. Make sure your attitude helps you stand-out from the other pitchers. As for your presentation, its attitude should reflect a mixture of professionalism and quirkiness. Anything out of the ordinary is called extraordinary and extraordinary is what catches attention.
‘Pr’ comes from Proposition; As an entrepreneur, you have to propose your demands in a professional, courteous manner so that a good impression is created, that is, the impression of being straight-to-the-point and being a person of business. Make sure that your propositions are genuine, sensible and feasible.
‘I’ stands for Information; Information is the new currency of the 21st century. Information is power but even power must be handled with responsibility. As an entrepreneur, it is your responsibility to maintain and provide information in the adequate amount with a particular amount of control over the transparency. Make sure you don’t spill out everything in front of your investors. Trust us, it wouldn’t be wise for you or anyone to do that.
‘L’ stands for Long-run endeavors; You have to be sure of your strategies up ahead in the long-run if you plan to be serious about your entrepreneurial journey. Do mention in your pitch about your future endeavors regarding your business idea such as expansion etc.. Make sure they’re feasible and logical. Any act of foolishness would lead to a sweet rejection.
Practices like live demonstrations, test runs for your investors, takeaways act as a token of goodwill and they help in developing contacts with professionals that would later on help you in your endeavors.
Perks of having a pitch for your business.
Perks? Well, of course, there are perks of having a great business pitch.
A great business pitch helps you get perks like financial, technical and professional guidance by experienced professionals. It also helps you develop contacts and networks within the entrepreneurial domain and other professionals within your domains of interest. Also, with a pitch, you develop skills like communication via presentation, public speaking, questioning-answering. The list goes on and on.
Want to know the secret ingredient to avail these perks? Well it’s obvious. It is Bhopal’s all time preferred place for business and marketing solutions and advice, Wisdom Visuals.
Conclusion
“The first impression is the last impression.” With this noble quote from the acclaimed professionals, we will conclude today’s session on business pitches. We understood their role, importance, the process and its essential components to make it outstanding and even score some support in the form of investment and guidance.
A pitch is the foundation behind every successful business. Even you can get that strong foundation for your business in the form of a great pitch. All you have to do is just plan a trip to the capital city of the heart of Incredible India; Bhopal, Madhya Pradesh; and visit the premium one-stop-shop for your business pitch and other creative marketing and business solutions, Wisdom Visuals. And rest, you know the drills. We’re just a call and visit away.
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