My Lovehate Relationship With PitchingFeb 27, 2015
I used to hate the emphasize that was put on pitching at all startup events and accelerators. My opinion was that you should focus on building up a profitable company and prove yourself the old fashioned way with hard work, determination and actual revenue instead of working on how to look your best on stage.
Although I still believe you should work hard and create value I have now realized the true value of pitching and it’s importance to any startup. Pitching is so much more than just looking or sounding cool on stage, it is both a process of fine tuning your business strategy and the act of being able to convince people on the value of your vision.
1. Pitches are the new business plan. (They help you define your business)
Many years ago when I was starting out in business I used to love business plans because I felt that they helped me get a better overview of my business and a better understanding of what needed to be done. Business plans were structured with well defined chapters for every element of the business process, so by creating them I was forced to think about how I would go about turning my idea into a profitable business. Over the years business plans have become obsolete since they are complicated and time consuming and instead people moved to using the business model canvas or even just using the pitch itself to define and mold the business. Personally I just use the pitch itself instead of a business plan
2. Using the criticism. (They help you improve your business model)
Every time you pitch in front of other people you will get criticism and lesser founders tend to hate this because they don’t like to hear strangers criticise the business they have worked so hard to create. But the mentors aren’t wasting their time to listen to you just so they can enjoy taking shoots at your business, they are doing it because they want to help you become better and if you listen to them and improve the things that they criticize you will eventully develope a strong business model and a great sales pitch.
3. Enticing money and people. (They help you grow)
If you want at some point to get investors into your business or even want to convince the right employees to come work in your business you must be able to sell them on the idea that your business is awesome. Pitching is just that, a process of convincing other people whether they are investors, customers or possible employees to see the same vision as you, to help them realize the potential that lies within your business. So if you want to grow and get great people into your company then learn how to do a great pitch.
Learn How to Pitch
Next wednesday, March 4 at 6:30pm I will be speaking at the Icelandic chapter of Founders Institute about pitching and I would welcome you to take part in this workshop as it is free and open to everybody. Click here to sign up for the event.
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