When was the last time you heard a pitch that you liked? Unfortunately, most entrepreneurs don't have great pitches. Ask them what they do and they either give you a buzzword filled explanation that doesn't mean jack [if they're MBAs], or a physics lesson on how their product works [if they're engineers].
Pitches need to capture hearts, minds and wallets - in that order. People don't care how a product works or how much money it will save them if they don't want it in the first place.
- Hearts: Convince the customer that they need your product. Tell them how will it change the world. [or at the very least, change their world]
- Minds: Convince the customer that you're the best at delivering the product. Explain how it works, and quantify the benefits it will bring.
- Wallets: Finally, tell the customer how you will save them money or add value they can't get otherwise.
One of my personal favorites on pitching - a 90 second how-to pitch scene [WARNING: coarse language] from the movie Boiler Room.
It doesn't matter whether you are looking for money, advisers, talent, partners or sales, you need to need to pitch. In that regard, we could all use a little help. Constantly practicing your pitch [especially at meetings and parties], as well as listening to and critiquing other pitches are great ways of getting better.
Links:
- To refine your personal pitch, check out 15SecondPitch.com
- StartupNation.com has some great elevator pitch contests as part of their podcasts.
- Sean Wise has some advice on how to pitch.
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