Perfect your business pitch

If you’ve never tried to pitch an idea to a stranger, then you need to start practising. Because, being good at pitching your business idea is important, when you decide to get financing for your new company. How well you pitch – your confidence in yourself – will help convince others that your idea rocks. Learn how to do an elevator pitch, a 9-step pitch and how to create a perfect pitch plan.

The art of an elevator pitch

Say, you have just started your own business and you stumble into someone useful, how will you explain what your company has to offer? Even if you’re not hunting down investors, being able to present the story of your company in 30 seconds is valuable. Try this method to perfect your 30-second elevator pitch:

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Example:

"Hi, my name is Name Nameson. Did you know that 5 out of 10 new companies close within 5 years? Imagine if we could help more first-time entrepreneurs become successful businesses. That’s what my company, Start-up Pro, does, by offering coaching and mentoring for young entrepreneurs. We have built a unique self-paced program, combining one-on-one meetings and online resources, which will help business starters to make their ideas into a business while benefitting from our expertise and network. Here’s my business card, please, get in touch if you need professional coaching."

The perfect pitch plan

A perfect pitch is not necessarily founded on a clear vision or an amazing presentation. Of course, your idea needs to be good. But, a good pitch delivery is often based on a solid pitch plan and a lot of practice. So, we have worked out the perfect pitch plan for you, and as with most plans it starts off with four pillars: 

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A 9-step leap in 6 minutes

You might not think, that you need a pitch deck – a presentation – but it will help, in case those you’re meeting request some sort of material about your business. So, if you’re the strategic type, we suggest creating a pitch deck consisting of these 9 steps, which altogether will enable you to deliver your perfect pitch in only 6 minutes.

Hook

Introduce yourself, your background and experience, and deliver a compelling piece of information to capture the imagination and attention of your “audience”.

Team

Introduce your team and make them shine; emphasize how and why each member of your team is an asset to your business

Problem

Make your “audience” aware of a problem, gap or need that actually exists. Tell it in a way that helps them relate and understand why there is a reason for fixing this problem or fulfilling this need.

Solution

Introduce the “remedy” that will fix the problem. Your solution. Deliver it in a manner that emphasizes why and how it’s new and how it differentiates itself.

Market

Present your target group and typical customer, then show and explain how your solution will help your target group. Show, what initially makes your business idea profitable.

Advantage

Give a clear and convincing example of the advantages that will make your business idea gain traction in the market compared to potential competitors.

Value

Show examples of the value your business offers potential customers to make your “audience” understand the value you bring to market.

Plan

Give your “audience” a clear idea of your timeframe; highlight the key touch points in your overall going-to-market plan.

Numbers

Present a projection of the revenue you expect to be making. How many months ahead you are able to forecast depends on your business-type. Finish off by presenting what’s in it for the investors – their opportunity.

Got questions regarding starting your business?

Feel free to book a meeting with a business advisor at Nordea.

Contact us