The Secret to the Perfect Pitch? 20 Words Or Less, Says Entrepreneur
Being seen and heard: an on-going challenge for entrepreneurs and businesses trying to stay ahead of the game while standing head and shoulders above the competition.
In a world of incessant noise and chatter, experts say the most unique and innovative ideas will only attract the interest of investors IF the pitch is spot-on.
With an increasing number of elaborate, technological solutions to help deliver that killer pitch, is the key to success a sophisticated, highly stylised video proposition and guerrilla marketing campaign, or is the answer much simpler?
For Billionaire Peter Hargreaves, co-founder of Hargreaves Lansdown – the UK’s largest online investment platform – going back to basics is his failsafe approach.
Speaking recently to The Times, the entrepreneur, who is worth an estimated £4bn, extolled the virtues of a compelling pitch which, he believes, can be delivered succinctly and successfully in just 20 words.
For his latest project, Hargreaves is looking to invest £100m in a charitable foundation. He intends the money to go to young people from underprivileged backgrounds or with disabilities, and plans on taking a boardroom approach to the charity sector. Community groups and worthy causes will be asked to pitch themselves in as few words as possible.
He tells The Times that it’s a trick he learnt during his time in business; “If you want to downsize your company, give everybody a piece of paper and ask them, in as few words as possible, what they do. Anybody who writes half a page, sack them, because they probably do nothing. If a charity wants to write me 5,000 words about what it does – well, I don’t think it knows what it’s doing.”
If you’re looking to perfect that perfect pitch, read our Top Tips on how to get started…
Top Tips for the Perfect Pitch
- Consider the Idea
Before you go gung-ho with letting the world know your idea, make sure it’s worth the effort. Ask yourself:
- Is it unique and innovative?
- Is it relevant?
- Can you sum it up in a few words?
- Can you actually do it?
If you can confidently answer yes to the above, then it’s time to prep the pitch.
- Prep the Pitch
The first rule of pitching: make it short. This doesn’t mean it should be entertaining but keep it succinct and get to the point.
Simple & Consistent
A clean structure including everything from a hook to a promise and a CTA.
Focus on Your Market
What problem are you going to solve? Be honest and credible.
Know Your Competitors
Show you’ve done your research and know the industry. Explain why your product or solution is better. It’s recommended to include credentials or testimonials if someone can vouch for you.
Know Your Audience
Not just your end-user but also who you are pitching to. Use this knowledge to be creative and engaging.
Be Memorable & Engaging
A positive, animated delivery will linger in your listeners’ head long after you finish.
Practice Makes Perfect!
Lastly, but importantly – know your pitch inside out. Confidence and knowledge builds trust and may make the investment seems all the more worth it.
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