To master the secret art of successful business pitching, founders must understand the different types of element. Business Pitching is something that is created with imagination, logical approach, skill and that is beautiful or that expresses important ideas or need. In the world of entrepreneurship and business, the ability to deliver a captivating pitch is often considered an art. Whether you are seeking funding, pitching a movie idea, or presenting a project, the art of pitching lies in the skillful balance of data, storytelling, curiosity, and a strong call to action. In this article, we delve into the insights shared by Christopher Clark, who is an experienced Venture Capital Broker, entrepreneur, 3x startup founder, storytelling and sales expert. And who help businesses to fundraise for their projects, as he sheds light on the elements of successful business Pitching. https://www.indeed.com/career-advice/career-development/business-pitching#:~:text=Pitching%20in%20business%20refers%20to,goals%20to%20gain%20buy%2Din.
The Secret Art of Business Pitching Looks like a canvas
I believe passionately that a founder should present about 80% of the image and allow the investors to fill in the remaining 20%.
A unique business idea can be viewed as a blank canvas. It puts off many founders because of the inability to express the new and unpopular offering. Making that first presentation can be intimidating, just as facing a blank page can be an obstacle for an author. To avoid this, a founder must pitch much more simply.
I always begin by covering the whole of the business idea with an infusion of data, usually in mid tone. The next step is introducing the gap or need that your idea will solve. I take my listeners from quick points I’ve taken. I build up the attention and accelerate the momentum from that point with a soft lighter tone of voice until one of the points hits the attention of the investors. However, I believe passionately that a founder should present about 80% of the idea. And allow the viewer to fill in the remaining 20%. That’s the hitting point.
Mastering the Secret art of Business Pitching
The secret of Pitching follows a very logical approach. Christopher Clark asserts that successful pitches are not about reaching out to potential investors. Or clients with crowded slides full of data, or detailed information about the company.
Instead, a successful pitch engages and educates the audience about the value proposition of a product or service. A well-crafted pitch involves the strategic use of data, storytelling techniques and expert delivery. Also a compelling call to action to create an exciting and interesting experience.
“A good pitch has to have all of those factors expertly delivered, like an art so it doesn’t feel like you’re being pitched. It feels like you’re in the process of something exciting and interesting. You can’t wait to be part of it!,” explains Clark. Indeed, the human brain is wired to process information presented in a narrative format, making storytelling an essential component of a compelling pitch.
Seven elements of the secret art of business pitching
There are seven elements that will enable you to master the secret of successful business Pitching. The elements are a line of idea, color of the need, shape of demography, form of solution, value added by the solution, space to cover, and texture or quality of the result in the long run. Explore the definition. The next article will cover the examples of these seven elements, as well as how to use and remember them.
Line of Idea :
This is the principal element in pitching. Our thoughts create our life, and ideas are essential to our existence. Ideas are vital to shaping our life as we live on this earth. Ideas give us hope for a better tomorrow. By igniting our passions and inspiring us to take positive action in the world. Ideas have power that can change the world. It can open new windows of opportunity and inspire us to do things that we never thought possible.
Through practically the entire development of businesses, the idea, essentially abstract, not present in nature, and appearing only as a thought without setting of bodies, colors, or planes, has been the vehicle of a representational more or less illusionist rendition of organizations. Only in very recent times has the line been conceived of as an autonomous element of form. It is independent of an object to be represented and the magic that holds or breaks any system of organizations.
A vast literature in organization and management studies has come to understand ideas as an epiphenomenon. It is a by-product, an outcome of affective encounters and aesthetic experiences. Thus often synonymous with enchantment. Drawing on classical anthropological and sociological theories, a line of idea conceptualizes as skilled revelation, or the performative disclosure of strategically concealed performances.
Color of the need:
Covering the inherent need as a story will captivate your listeners to show more interest on how to overcome the obstacles and face our challenges. Many of the problems within the world are socially constructed (a result of human behavior/man-made problems). Socially constructed issues human societies face are inequality and poverty. Founders can therefore assume, at least in principle, that if we can create these problems we can also overcome them. There are other needs such as education or living conditions. Founders see these obstacles as a puzzle to solve.
Shape of demography :
It represent the population that is affected by the problem. A group of customers with shared demographics who have been identified as the most likely buyers of a company’s product or service. It is the set of data that are collected and selected from a statistical population with the help of some defined procedures.
Identifying the target market is important in the development and implementation of a successful marketing plan for any new product. For example, if you’re a daycare center, your target market is children and parents. Those are the people who will use your services. But your target audience could also include local schools and churches, your community, businesses near your center, grandparents, and more.
Who are you trying to reach? Where do they spend their time? What are their hobbies, interests, and fears? These are the details you can use to refine your marketing messaging so you’re resonating with the right audience.
Form of solution :
“If I were given one hour to stop climate change, I would spend 59 minutes defining the problem and one minute resolving it,” Mr. Tom said. Indeed, when developing new products, processes, or even businesses, most companies aren’t sufficiently rigorous in defining the problems they’re attempting to solve and articulating why those issues are important. Without that rigor, organizations miss opportunities, waste resources, and end up pursuing innovation initiatives that aren’t aligned with their strategies.
Form of solution refers to a way of dealing with the problem so that the difficulty is removed. It describes how the solution will help those in need. Founders tackling problems use a specific and systematic problem solving procedure. First, you must identify a problem or a need that customers have in order to create a product or solution for the problem before you take it to the market.
How many times have you seen a project go down one path only to realize in hindsight that it should have gone down another? How many times have you seen an innovation program deliver a seemingly breakthrough result only to find that it can’t be implemented or it addresses the wrong problem?
Value added by the solution :
The value – add describes the enhancement a company gives its product or service before offering the product to customers. In business, getting people in the door is a key to success. But an even bigger challenge you’ll face is to keep customers coming back. A buyer who makes one purchase is likely an impulse buy or a buy from need. Buyers who make repeat purchases are customers you can serve for years to come. That’s why you can’t discount the benefits of value added by your product or services. Great value makes your customers feel that you care about developing a long-term relationship that means more than just making a sale.
As marketers and business owners, we need to look for ways to add value to the lives of our prospects and customers inside of just pushing products on them. No matter your industry, when you stop and focus on the needs of your audience and create value added solutions for them, you set yourself up for success. As creatives, business owners and entrepreneurs we have to get to a point where we realize that what we offer is not for everyone, but it is for someone.
Space to cover :
Space to cover means aggregating prospective buyers into groups with common needs. Known as Market segmentation, a core principle of breaking the market down into groups of customers that you can target, rather than addressing the market as a whole. Rather than being all things to all people, this approach allows you to zone in on the most valuable customers for your business so that you can focus your efforts where it matters most.
It enables founders to target different categories of consumers who perceive the full value of certain products and services differently from one another. Further more, it entails dividing potential clients or companies into various categories based on certain factors such as their organizational type, geographical location, application needs, etc.
So what does this look like in practice? A recent case study brings this to life. We partnered with a leading university to design a segmentation of its alumni. Securing donations from alumni is a core revenue stream for universities. You might assume that targeting all alumni equally would be sure-fire way to elicit donations. But in reality, it’s a small proportion of alumni that make the most difference.
There are many ways of segmenting a market. In this instance, we opted for a needs based segmentation, where we explored the attitudes and values of past students. A demographic segmentation would have allowed us to target those in the highest income bracket or those in particular professions. But actually what mattered in this case was the attitudes of the alumni towards the university.
Quality of the result in the long run :
It is a term used in evaluating the performance of the product or services rendered by the founder. Projects are performed to deliver quality products/services and satisfy budget, and schedule expectations. The quality of performance (the work required to deliver results) and the quality of the outcome (a service or product) are intimately related. High quality performance delivers high quality outcomes. The process is the key. If it is a good one, it makes sure that quality is defined and mutually understood by stakeholders and that “critical assessment” is done with positive attitudes. https://christopheclark.com/