I have been a judge at a few pitch nights and business plan competitions. It is always clear which teams have been coached in how to deliver a pitch and which ones just wing it. Delivering a good pitch for your business is as much about conveying emotion as it is about conveying information. As Theodore Roosevelt said, “Nobody cares how much you know until they know how much you care.”
A pitch doesn’t need to be long; your audience will appreciate it if you keep it as brief as possible. In his best-selling book Write Your Business Plan, Eric Butow, CEO of online marketing ROI improvement firm Butow Communications Group, explains how you can put together a pitch in ten minutes, broken down into one topic per minute. The following is his recommendation.
Minute 1: Personal Connection
In the opening minute, establish a personal connection with your audience. Let them know that you’re not just here to present a business idea but that you genuinely care about the problem you’re trying to solve. Share a brief personal story or experience that emotionally connects you to the issue. This helps humanize your presentation and creates empathy with your listeners.
Minute 2: Pain Point
During this crucial minute, delve into the heart of the matter by vividly describing the problem. Paint a picture of the emotions experienced by the people confronted with this problem – their frustration, anger, disenchantment, and struggles. Use real-life anecdotes or testimonials to make it relatable. Accompany your description with a clear diagram that breaks down the problem into its component parts, making it easier for the audience to grasp the magnitude of the issue.
Minute 3: Solution
Now, transition to the solution. Express your excitement and passion for the business’s solution. Take the audience on a journey, explaining how the solution works and the significant benefits it offers. Use storytelling to illustrate how this solution can transform lives and solve the pain points discussed in minute 2.
Minute 4: Revenue Model
Shift the focus to the business side of things. Explain your revenue model, detailing how you plan to make money. Be clear and concise in outlining how you will charge customers for the solution you provide. Transparency is key to gaining trust.
Minute 5: Setting Apart
Discuss your approach to competition. Instead of claiming to be better than competitors, emphasize the blue ocean that sets your business apart. Convey humility by acknowledging the presence and strength of existing players in the market. This shows respect for the competition while highlighting your unique approach.
Minute 6: Market Strategy
Inject enthusiasm into your presentation as you talk about your target market. Describe the size of the potential customer base and your strategy for reaching them. Use market data, including demographics and trends, to demonstrate your well-thought-out approach to market entry and your sales and marketing strategy.
Minute 7: Revenue Outlook
Explain your revenue projections. Show how selling to your target market aligns with the unit economics of a single customer (price) and how market size translates into potential deals (quantity). Use this information to outline revenue growth over time, to give the investors confidence in the business’s financial prospects.
Minute 8: Meet the Team
Introduce your team in the context of the business. Highlight their skills, experiences, and their specific roles in the company. This helps the audience understand why your team is well-equipped to execute your business plan.
Minute 9: Proof of Traction
Provide evidence of your business’s traction. Share key achievements, such as revenue figures, user growth, partnerships, or customer testimonials. This demonstrates that your business is making progress and resonating with its target audience.
Minute 10: Call to Action
In the final minute, make a compelling call to action. Clearly state what you need from your audience, whether it’s investment, partnership, or support. Paint a vivid picture of what it would look like to join you on this journey. Encourage your audience to believe in your vision and be part of its realization.
This is great. Thank you very much for the piece.
Would you be willing to share some examples.