in business, a pitch refers to the presentation of ideas designed to
attract investors, get feedback to improve your business. Generally speaking, consider pitching as a motivating action for your company Preparation of a project pitch Preparation required • Preparation required for the pitch at this stage are as follows: • i) Content preparation: A good pitching effort requires great supporting documents. Once you have the basics down, it’s pretty easy to prepare all of these documents as needed. A good business pitch requires a business plan conveying a few things quickly: the mission and vision, the problem you solve, the solution you provide, and the people you do it for. • ii) Materials needed for the presentation like powerpoint presentation, projectors, invitations to your audience, venue or place for pitching • iii) Psychological preparation: Business plan pitching has to be planned well by the owners of the business venture. There are specific steps that should be followed in order to have the best persuasive pitching. Your business pitch should be clear, concise, and persuasive. It should explain what your company does, what problem it solves, and why it’s a good investment. Steps involved in preparation of business plan pitch • i) Analysis of the audience: Knowing the audience, one is going to • present the business plan pitch to determine the presentation, content ,selection, pitching techniques, approaches, and anticipation of the questions likely to be asked. • ii) Select a topic: Select a topic based on the problem to solve, and the nature of the audience/ potential investors. • iii) Define the pitching objective: The right business plan pitching objectives enable the team to convince potential investors. • v) Prepare the body of the business plan pitch: The content of the business plan pitch is expected to be organized in a sequential way. • Anticipate the questions from the audience: While preparing for the business plan pitching, one must anticipate the possible questions likely to be asked by potential investors. • vi) Prepare the suggestions and conclusion: • V.Practice pitching of business plan (Micro- pitch): The team that intends to pitch, should get the time and practice pitching the business plan. The key items to cover in business plan pitch • Business idea and goals: A business plan pitch must address the business idea to be pitched for. This should be clear and precious so that potential investors are able to understand it. It must also contain SMART goals.
• These two aspects are very fundamental in the business
pitching process. With no clear business idea and goals, it means the presentation content will be irrelevant to the audience. • ) Problem identified: The business plan pitch is developed around the identified problem. The business venture, therefore, comes to provide a solution. This is what the investors love to hear. The problem identified must be affecting the community, not a specific individual. The business idea being pitched should be worth investing in • Solution: The business plan pitch should clearly show the innovative and creative solution that the business venture will execute in addressing the problem at hand. The solution should be unique and easy to implement. The more convincing solution increases the chances of persuading potential investors to invest their funds into one’s business. • Target Market: A pitching team must understand the target market. This calls for serious research and study, and where possible the projected market share percentages.
• This is very important because it will provide a guide
on the financial projections. The profitability levels of the business form part of the convincing parts of the business plan pitch content. The beachhead market and general market segmentation targeted should be catered for • ) Marketing strategy: The business plan pitch should show and describe clearly the market strategy to be used. This determines the profitableprobability level of the business venture to be invested in. The investor would like to know the marketing strategy to be employed. • Therefore, it is very important to take time and make clear research and study the marketing strategy. One may have a wonderful business idea, but if the marketing strategy is poor, chances of profiting from the venture become low, hence discouraging potential investors • vi) Industry Analysis: There must be a part of industry analysis in the business plan pitch deck. For example, if the business idea deals with Renewable energy, therefore, make research on the energy sector and have data to use in the presentation • Management Team: The capability of the team that will be engaged in managing the business venture is very important. Include this on the pitch deck. Potential investors wish to know if they invest in the project, will the team manage to handle the funds and generate profit. • ) Competition: Knowing and understanding the competitors is very vital to the success of a business. Therefore, potential investors would like to know if you really know the competitors. In a business plan pitch, it is very necessary to mention the competitive advantage that favours the business. The competitors’ weaknesses and strengths should be analysed so that one is able to provide a unique solution that would out-compete them. • Current status, amount of money requested, and the projected use of funds: This is a very important section of the business plan pitch. The potential investors need to know the financial abilities of the team in order to make informed financial decisions. The financial status of the business venture should be honestly shown Techniques used to pitch the business projec • Writing only key points • Avoid reading directly the content • Using visualisation, pictures, symbols, colours, tables: • Make it short, concise, and come to the point: • Reacting positively to questions: • Using body language • Trying to convince • The Real Pitching Process For a successful pitching activity, one needs to put more focus on the following: • a) Greeting & thank audience for the attendance • b) Start with the Problem / gap identified after market analysis • ENTREPRENEURSHIP FOR GENERAL EDUCATION | Senior 6 74 • c) Business idea and goals (Solution) • d) Target market • e) Benefits to the investors & society • f) Amount of money requested, projected use of it, and the anticipated • Returns • g) The call to investors • h) Thank the audience