WHEN PITCHING: Show the audience your expertise and why you are the right team to succeed. Foto: NTB scanpix
There are several things you need to consider when preparing a pitch. In this short article, we will give you some tips on how to improve your elevator pitch and 3-minute pitch.
Firstly, it is important to understand your audience. Who are they? What are they looking for? Secondly, you need to keep it short and cut out all unnecessary words. A good communicator – unless you are a politician – says a lot with few words.
The elevator pitch
This pitch needs to be built around four corner stones. The hook, the problem presentation, the solution and the kicker. Our partner, VentureLab, has through serial entrepreneur and investor Thomas Due, made this short film explaining how it could be done.
A good elevator pitch leaves the audience wanting more. After this they should be so intrigued that they want to hear more about the product.
The 3-minute pitch
A pitch this length should be well prepared rhetorically, so that the audience sticks with you all through the presentation. You need to practice a lot, and especially focus on looking forward and never turning your back to the people listening.
The pitch should include these six elements:
- The company presentation. A neat and minimalistic presentation of you and your company.
- A description of the problem or pain. This should be connected to facts and numbers that the audience can easily visualize.
- The solution and the opportunity. A brief general outline at a technical level that everybody can understand. Possibly show a demo or a prototype?
- The market size. How big is the market, and how are you going to reach it?
- The team. Show the audience your expertise and why you are the right team to succeed.
- The current status and funds needed. Where is the project now and what does the near future look like?
For more insight on how to rock the 3-minute pitch, take a look at this short informational video by VentureLab and Thomas Due.