The Anatomy Of A Good Pitch
By Ryan Velez
A pitch is one of the most high-tension situations in business. Making a good impression on a group of potential investors or customers can make all the difference when it comes to providing the boost that your business needs to stay afloat or get to the next level. The key is a combination of knowledge about your product and what makes it worth investing in as well as the confidence to present said knowledge in an appealing manner. Black Enterprise has recently provided a list of tips to help you refine and improve your pitches for the best chance of success.
Chances are that you’ve dealt with impostor syndrome once in your career, and maybe even in your personal life. This is that feeling in your head telling you that you don’t deserve to be where you are. Perhaps you don’t have the qualifications or the skills. Even the best people in their fields can struggle with this. Maya Angelou once famously said: “I have written 11 books, but each time I think, ‘Uh oh, they’re going to find out now. I’ve run a game on everybody, and they’re going to find me out.” Rather than trying to bury this mentality or stomp it out, consider embracing it. This isn’t to say that you don’t belong there. Rather, understand that you aren’t perfect, but you are prepared. This is what will allow you to get that feeling of belonging.
Part of this preparation is knowing what the audience will want to ask of you. Black Enterprise suggests having detailed answers ready for some of the following questions:
• Define your space in the market: What problem do you solve for a specific audience? What’s your unique approach to solving that particular problem?
• Why are you better than other businesses in the same industry?
• Why is your product or service unlike anything else in the market?
• Does your solution fix a broken business process? Does it serve an underserved area or population? What are the consequences of not taking action?
When it comes to pitches, one advantage you have over a phone call or email is the ability to craft a story with your pitch. The idea here is not to use emotion to cloud or overshadow the facts about your product. Instead, use this to give an impression on the type of people that will benefit from your services. “You have to know that you are the only person that can give your customers or buyers what they want,” says Psyche Terry, CEO of UI Global Brands.