Build your pathways
For many pitches, investors are looking to see what you can contribute. The best way to do this is to simply lay out where you are going to go. Define the impact that you are going to make and identify what steps you are going to take to make that impact. How are you going to grow? For example, what is your market now? What will your market be in five years? This is something to think about when trying to clearly identify your impact.
You don’t have to have all the answers
You don’t have to cover every piece of your business in a perfect manner. The point of many pitches, MassChallenge or otherwise, is to identify what your strengths are and to figure out where you need help. As long as you show dedication, passion, and energy in your pitch, you’ll leave a lasting impression on the people you pitch to. Furthermore, it’s okay to admit that you don’t have the answer! Just try to think about how you’re going to find the answer to the question.Identify key assumptions and figure out best and worst case scenarios.
Don’t be Coy – Be clear about what you want to do
Assume the judges know literally nothing. Within the first 2 minutes investors want to know exactly what youre doing. Really ground them in your mission. You could be the sixth person in the cycle of pitches they’ve seen that day so you want to draw interest as quickly as possible. Unless asked, don’t invest too much time in talking about specifics. Sure – investors certainly sit up when they hear about traction, but never forget to talk about the problem space and what the solution is. Humanize the story and build an engaging narrative.
Engage! Don’t go into “sales mode”
After you pique the interest, you want to be sure not to engage in sales mode. Leave time open for a Q&A for that’s when you really win hearts and minds. Questions help your audience synthesize and analyze your product or service in their minds and it really helps them clarify what it is you do. Draw them into your narrative;try to connect with your audience. How much does your story touch you and how will it touch others?
Talk about what your superpowers are
What makes you extraordinary? Why are you going to be the one that solves your problem?What positions you in a way that youre going to finish a product and realize your impact? People don’t invest in ideas, they invest in people. Inspire confidence that not only are you the person with the right frame of mind to tackle the issue at hand, but also let people know that you (and your team) are the only one(s) that can make an impact in your problem space of choice.
As an entrepreneur, you have the tools to create positive change in the world. Not only is the pitch a chance to tell the world that you are the hero they deserve, but the pitch is also a chance to refine and train your powers. Even if a pitch doesn’t go well, investors or judges will always give positive and constructive feedback.