You have an idea, you’ve done your research and now it’s time to tell people about your business. Let’s start crafting your business pitch.
What does a business pitch involve?
Pitching your business sets the expectation that you’re ready to launch or grow. A good pitch describes your business and its benefits to potential customers. This helps them understand what your business does and why they should be interested.
Pitching your business means actively talking about it, engaging with your target market and networks. While your pitch doesn’t need to close a sale, it should create enough curiosity to earn support and create genuine conversations. Here’s an example.
At a networking event, Rodha is asked what they do and responds with “I help people become more intelligent while playing games on their phone.” When asked “How do you do that?”, they introduce BrainUP, an app that uses neuroscience to elevate the functional capacity of the brain through a series of training exercises disguised as fun games.
Use this opportunity to express what makes your business unique. If you’re stuck, consider the triple bottom line: people, planet and profit. Use questions like “what is important to my business and why?” and “what value do I bring to the community?” to guide you.
Who should I pitch to? Where should I pitch?
When pitching your product or service, leverage your network to talk to the right people—friends, family, acquaintances and business connections. Local entrepreneur focused events, trade or industry organizations and your local chamber of commerce are all great places to start. You may want to look for places your potential customers will be and socialize your business idea there, too.
After you pitch your business
Take notes—lots of notes. Be critical and use your learnings to inform future development decisions. Listen to the feedback from your audience and network to iterate or pivot your direction, if needed. This is an opportunity to optimize your offering.
Throughout this process you’ll also be learning the best ways to speak to your target audience. What kind of language do they respond to? Is it direct, or on the subtle side? This will help you develop further intentional outreach and set up your marketing plan and strategy.
As you put your pitch into practice, collect contact information from your audience to follow up in the future. Just like market research, pitching your business is an ongoing activity meant to help your business grow and improve.