The 5 Most Important Rules for Pitching Your Startup
Updated: Jun 26, 2018
The following is an article “5 Most Important Rules for Pitching Your Startup Idea”
by Marc Primo.
Pitching an idea in front a panel of judges can be a daunting task. Even if you have previous experience speaking in public you may end up being nervous and come off as unprepared. The truth is, you should be. When pitching to investors we are asking people we don't know and have no reason to trust us to put their faith and even more importantly their money on us.
Fortunately, you can prepare and avoid the usual pitfalls of stage fright. As long as your idea is actually of any use of course. By following these five rules of startup pitching, you can minimize your risk of bombing the:
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1. Be prepared.
Get the facts on your side. Be able to quote statistics and answer any and every question there could possibly be regarding your idea. Know your audience and what is happening in the current market. You need to know who your target audience is, what the competitive scenery is like, and how your idea is going to outdo everyone. In essence, you need to prove you can accomplish it, even if it is just confidence.
2. Research the judges
You should know who you are talking to. First, it shows respect but more importantly it will help mold your pitch answers and comebacks accordingly.
3. Straight to the point.
Don't overhype yourself or your idea. Be careful about aggrandizing and overpromising. If you have real numbers and experience lay them out in a precise and timely manner. Just talk about the most critical and grounded points you have in your arsenal; the rest can be explained in the questions and answers portion of the ordeal.
4. Facts and stats are your friends
Let me be clear. Your numbers and real-life experiences (facts) are a great tool. It shows you have already laid a path for yourself and are looking for partners, not babysitters. Just throwing market numbers that have nothing to do with your actions will have the opposite effect.
5. Don't improvise too much
Practice your pitch with friends, family, colleagues, enemies, anyone that will listen. Write it down and edit it down to its purest so that you know it by heart. This way any improvisation will come out as a perk, not a blunder.
If you keep these tips in mind, everything should go your way. As long as your idea is any good of course.