August's topic suggestion comes from our founder in person: Tadeusz Nikitin.
In the startup universe everything revolves around one thing: pitching. Need investors? Pitch! Want to win customers? Pitch! Startup competitions? Pitch! Trade fairs and other events? You can guess – pitch!
When my career at Splitbot began I had, admittedly, never heard of it. Others may be in the same position, so here is a short introduction.
The term “pitch” comes from the advertising and agency world. Agencies compete for potential clients with short presentations, that is, pitches. Over time this form of presentation took on enormous importance for startups too. The reason is simple: investors and customers want all the information they need in as little time as possible. Nobody has time for hour-long talks about a product.
Is one pitch like another? No!
There are a great many forms of pitching, and new ones keep appearing. Besides the basic distinction between investor and customer pitches, which usually run three to five minutes, there are numerous other formats. Equally popular and feared is the elevator pitch, where the challenge is to present the company or the product in the time of a lift ride (30 to 60 seconds).
The pitch deck: less is more.
Depending on the format, pitching may allow slides. Here the rule is clear: less is more. Slides overloaded with text or confusing graphics have no place in a pitch.
So how do you do it right? Unfortunately, as so often, there is no magic formula. Some people seem born for the stage and are natural talents. For others it is hard work. Others again have yet to discover their ability. One thing we thoroughly recommend is taking part in pitch training of the kind often offered as part of accelerator programmes. Right now, two of us have had the pleasure of working with Lars Hartenstein in a number of workshops. And when we say “working”, we mean it. Pitch training means one thing above all: out of your comfort zone! Here is a best-of from his tips:
Kill your darlings! You love your company and you believe in your product. But more than two or three good arguments have no place in a pitch. Save the rest for later, or you will lose credibility.
Build a suspension bridge! And give your audience a good reason to follow you. You have to take your audience with you, or you will be standing alone on the other side.
Make them fall for you! Learn to use your body language properly and to meet your audience where they are.
Believe in yourself! Ask yourself why someone should buy a product from YOU of all people. Why are you the best for the job?
Everything is a pitch! Every conversation, every interaction is a pitch.
Pictures say more than words! A good metaphor sticks in the memory and beats figures, data and facts. People think in images.
Want to know more about the subject? Take a look at https://alles-ist-pitch.de/. You can also see us in action on 17 October 2024. We are pitching at the graduation day of the AI.Startup.Hub Hamburg at the ASTOR Filmlounge HafenCity. Tickets are available here.
