One often forgotten component of innovation is pitching. The momentous moment you stand in front of senior directors or investors to get buy in or funding for a project. You have spent hours and weeks in the development of this amazing idea. But as good as the idea is, without a compelling and clear presentation the project will not go ahead. The best world changing ideas remain on the shelf.
8 things to consider when crafting your compelling pitch
- Explain clearly what it is and whom it is for
It’s easy to assume other people know as much as you do. When you have been so attached to the project, you need to take a step back and begin again from what they know. Be clear and concise.
- Demonstrate the market demand
The second motivator for take up, is ensuring there is a need for what you are creating. Find facts and figures that support your assumptions.
- Outline the key benefits
Investors will put themselves in the shoes of the buyer, end user, customer or client. They want to know the distinguishing features and benefits this product, service or innovation will offer.
- Show how it will work with a demonstration or prototype.
If pictures paint 1000 words, prototypes bring the storyboard to life. As most decision are based on a combination of guesswork, risk analysis and imagination, a working example will stand give you a much greater chance of success. This is not about perfection or things being exactly how it would be in reality, but a huge mental leap closer for people making decisions.
- Demonstrate your capability to deliver it
As the momentum swings in your favour to fund the project, one of the sticking points is alwasys execution. Can you do what you say you are going to do? You need to demonstrate you can and you will.
- Be clear on what you need to make it happen
Money and resources are usually the important factors. Be really clear on what you need and how much you need to make this project a success and deliver the intend result.
- Outline the risk involved
As with any new venture or project, there will be an element of risk. Highlighting this shows you have though things through and allows you to put measures in place to reduce the likelihood.
- Clarify the vision and estimate impact
Emotion is the key to move people into action. If all of the facts look attractive enough, a powerful and exciting vision to buy into can make all the difference. Paint the picture with passion.
I hope this list helps you. And in turn I hope it helps innovators and entrepreneurs across the land to get much needed ideas, products and services out into the world.
Go make it happen!