What to consider to make a Perfect and Effective [IDEA, INNOVATION, INVENTION] Pitch
What to consider to make a Perfect and Effective [IDEA, INNOVATION, INVENTION] Pitch
The growth of the world for the last X years is usually perceived in many dimensions. One of the most notable dimension is technology. Technology comes about as a fix or solution to a certain problem or as a better solution than the existing solution to a specific problem. Therefore, as the world grows, so does the problems in it and thus the solutions (technology).
Technology/Solutions begin as ideas and could end up being inventions or innovations. Many are the times that ideators have a really great way to solve a certain problem, but do not have the means to make it happen. At such a point is where PITCHING comes in. To pitch is to present an idea/innovation/invention to potential investors or clients with hope that they will invest or be your client.
Pitching can be done on any field and is not limited to the computer technology world, and therefore this guide to perfect, effective pitching applies to anyone who would like to make a pitch to whomever. To make a perfect and effective pitch, you should consider the following key points classified as vectors [Technical, Economic and Political] :-
[[ A. Technical Vectors ]]
1. Introduce yourself – Before anything, you need to provide your identity, that is, who you are, what skills you possess and what you intend to do (your ambition). Make the introduction precise, but inclusive of all necessary details.
2. The Problem – Clearly spell out the problem you intend to solve. The problem description should be precise, but detailed enough to convey your message.
3. The Solution – Properly describe, illustrate, and if possible animate the solution to the problem you have identified. The product/service should be well explained and how the consumers will use the product to solve the problem they are facing should be included
[[ B. Economic Vector ]]
1. The Right Investors – As much as you need funding for your pitch, you need to pick your target investors (pitch deck) correctly. To ensure this, you should select investors who are conversant with either the technicality of the pitch, or the business model, or both.
2. The Target Market – The primary goal of your pitch, just like any other business, is to make profits. You should have identified a target population that will last a lifetime rather than one that is seasonal. This will increase the probability of you getting funding, because the investors are in it to also benefit.
3. Your Investment – If possible, invest and show the investors that you have also trusted in the success of your pitch enough to invest not only your time, but also your finances.
4. Give Numbers in details – You should have foreseen the success of your pitch and estimated the costs of its implementation, and also provide the numbers (figures) that clearly show how you arrived at your current estimates. In addition, you should provide the estimated value of the to-be business in a prospected period after successful implementation. This, assuming it shows how and when the investors will begin profiting off of your pitch, will motivate them to invest in you and your pitch.
5. Shortcomings – Just like with the finances, you should predict the expected problems and the possible causes, as well as their costs and how and how fast a recovery can be done.
[[ C. Political Vector ]]
1. Your Competition – You should have evaluated the scenarios of success of your pitch to be able to predict the troubles of competitors who might exist in the moment, start the business around the same time, or come up after your pitch is implemented. You should estimate the financial harm that is possible in all possible scenarios.
2. Investors’ Share – Given that you want funding from your pitch deck, they may try to exploit you by suggesting uncompetitive share of the to-be business which can put you out of your own business.
3. Legal Implications & Patents – You should have evaluated all the legal policies that will apply to your business to avoid legal liabilities in the future. You should also aim to have patented if not initiated the process of patenting your idea before pitching it, because your investors or their associates can try to rob you off your authentic idea.
What to consider to make a Perfect and Effective [IDEA, INNOVATION, INVENTION] Pitch
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