Too big of a market and your case becomes unrealistic; too small and it becomes unattractive.
by Kashif Choudhury
Speaking in front of people is the most common fear in the world. It’s true because you cannot prove otherwise. Jokes aside, presenting your idea(s) to others is one of the most essential skills one could have. This is because an idea not shared effectively… doesn’t exist!
First, we have to address the elephant in the room then ask it to leave. How does one get over the fear of pitching? The important thing to remember is – don’t be afraid of being average because that’s what your presentation will be average. However, remember that it’s okay to be average. That’s the first step to being awesome.
Now for the fun part. How do you structure a winning pitch? The guidelines below have been tried and tested in the past. You can follow these and give it a spin at first. Then when you get the hang of making and delivering these pitches, you can innovate and build on your experience to come up with something spectacular. So here we go.
Set the Story
Remember, your product doesn’t convince people, your story does. So the most important part of your presentation is the story. You have to tell one that hits home for the audience and resonates with them.
For instance, if you are pitching a ride-sharing service in Dhaka, remind them of the horrendous heat endowed traffic jams they have to encounter every day and the overpriced CNG auto-rickshaws they have to get on.
This not only gives the audience a context to base their decisions on, but also makes you look like you are solving a routine problem on a priority basis (which you hopefully are doing anyway).
Your Pitch
The standard structure of a pitch is like the following:
First grab the audience’s attention by stating a personal problem. Then present them with your solution. If it is innovative, then you already have their interest is already yours. Next you elaborate on the details of the product and highlighting its unique features and how they will change the way people operate.
For instance, while you’re pitching about the ride-sharing service; after stating the problem of traffic jams, you move on to how your app will solve the problem by leveraging an awesome app that will work from inside Facebook (somehow; figure it out). Next you explain your product in detail to show how your solution will be effective in solving the transportation problem for the 2 crore residents of Dhaka; why people will use it and how it will integrate with the already existing solutions like taxis, CNGs and awesome flying buses.
Now that you have explained the gravity of the problem and how your product can make people lives easier, it’s time to move on to the business fundamentals. The audience wants to know how big of an opportunity there is in this market – which is often taken as a direct measure of the attractiveness of a business proposition. However, caution is advised. Too big of a market and your case becomes unrealistic; too small and it becomes unattractive.
Entice the audience by explaining how you are capturing the market; tell them about any money you have made, partnerships you have forged or customer validations that you have received. This will give them confidence in the business and make your proposition seem more than words on a PowerPoint.
Finally, now that you have the audience on board, it’s time to deliver the finishing move. Show them WHY NOW; why it’s the right time to enter the market, how the economic, industrial, demographic, customer and technology climate supports your business model NOW. Then show them why YOU and YOUR TEAM are the right collection of brains, hearts and muscle to get it done. And last of all, sell the dream. The dream that you see, the change that you envision and why they would be fools not to be a part of it. Then smile and wave.
For instance, as the ride-sharing service provider, show them your business case and how big of a market you are targeting at first, then later on. Millions of commuters with one solution that might be your pitch. Then move on to how you are already gaining traction in the market by generating revenue on a pilot basis. Now that the audience trusts your market readiness, tell them why now is the right time to start this business and why you and your rock star team are the right ones to pull it off, subtly moving into the vision you see of a jam free Dhaka and revenue generation for all parties involved.
Kashif Choudhury is an Assistant Vice President at LightCastle Partners. He can be reached at kashif.choudhury@lightcastlebd.com
