Pitching your business is never as straight forward as it seems. Your pitch changes whether you’re talking to investors, partners, clients, and so on and so forth. However, one constant remains. You have to have a short (2-3 minute) business pitch ready to go in a second’s notice.
Here is our advice on business pitches and 5 things to include.
Tell the “Why” of Your Business, Not Just the “What”.
More often than not, when pitching your business you focus on the what. The “what” is what your business does. Pretty straightforward here. If you’re starting a marketing business, you’re offering marketing. That’s what you do.
Despite what you do, you should share your “why”. Why are you starting your marketing business? Are you solving a problem? Do you see an opportunity that others are missing? Sharing your “why” is often more appealing than your “what” and it get’s people to see not only your business, but you as an entrepreneur.
Explain Your Credibility
Right out of the gate, we recommend explaining your credibility in 1-2 sentences. If you’re starting a company and pitching your company to others (especially investors), make sure you tell them how you’re able to accomplish this goal of yours.
Looking back to the marketing example, maybe you’ve been working in marketing for 5 years. Tell your audience that so they look at you as someone experienced in the field and not just the 8th guy to pitch social media marketing that night.
Have an Ask
This is a common one that I see with newbies. Your pitch should always have an ask attached. You wouldn’t build a website without a call-to-action would you?! Same concept here. Now the ask may differ depending on who you’re pitching too. Despite if the ask is financing, connections, or a simple follow on Instagram, include an ask in your pitch.
Show Your Business’s Traction
Explain your traction. Tell the audience what progress you’ve made so far so that they can get an idea of the progress you can make in the future. No matter the stage of the company, you have something you can insert here. Whether you just got your first client, got a new partner, had $2,500 in sales last month, or whatever it may be, show your business’s traction.
End Your Pitch With Authority.
It’s so common it’s almost expected. Seeing somebody do a great pitch and not know how to end it. People need to realize that ending your pitch is just as important as your opener, and maybe even more important.
Don’t be the guy who stops speaking and simply says “Thank You”. Or even worse, don’t be the person who looks confused as what to do next. Find a phrase, saying, or otherwise unique way to end your approach that welcomes other’s to continue to think about it. If you’re having trouble coming up with something you can always use this classic.
For example, “My name’s _______ From (Company) and I’ll be at (location), Come say Hi!”
“My name’s Todd from Happy Hour Business and I’ll be at the bar the rest of the night! Come grab a drink with me!”
You want people to engage you, so find a way to garner that attention at the end of your pitch. Pro Tip: At any sort of event, there are typically questions after the pitch by the judges, audience or whoever. Be prepared to answer those questions!!!
If you want to hear more about pitching, including some tips on preparing, check out podcast episode 8!