How to Win Your Next Pitch Competition
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3 Quick Tips for Securing your Pitch Competition
If you're like us, we love watching Shark Tank and seeing business owners compete for fundraising opportunities. We've even seen this same style of competition replicated to social media through Instagram Live and Clubhouse cash giveaways. So how do you handle the rush, excitement, and nerves to sell yourself and secure the bag?
The heightened stakes of competing live in front of an audience are usually both nerve-wracking and exciting. A pitch competition structured this way is an ultimate test in how well a business can concisely articulate the value of the problem they seek to solve. Here are some of our takeaways for a successful pitch.
Be confident. As a founder, few situations make you more vulnerable than when sharing the value of your business. You are the subject matter expert here. If speaking in front of a large audience is a cause for concern, take comfort in knowing that no one knows the intimate details of your business except you. So there will be no wrong answers! Take solace in knowing people who have spoken publicly more times than they can count still battle nerves.
Be concise - Most pitches are around 1–5 minutes, not a long time to pitch. Sometimes you are granted the opportunity to share slides, and other times you aren't. In any case, you are tasked with sharing a limited amount of content. When you are running your business, every detail is important to you, but too much information can overwhelm an audience. Focus on a few key points that you want to express, and as tempting as it is, don't go beyond that.
Make every experience a win. Sometimes you win, and sometimes you won't, no matter how great you think your pitch is. When you are running a new venture, every moment of your time is meaningful. We suggest spending several days preparing for a competition, so you can walk in knowing you need to see a return on your time, whether you walk away with cash or not.