The method and the channels for pitching have changed dramatically within the last five years.
One of the reasons for this is that it has become very easy to start a business, at least on paper. Resources have become so readily available. Softwares have become more affordable, if not free. There are eager entrepreneurs all over the world of all ages who want to start a business. We are living in the age of the wantrepreneur–which is great. There’s also so much more venture capital and private investment capital that funds startups. There are incubators, there are accelerators, there are countless organizations that assist in the process of developing new businesses.
The number of pitch competitions has also increased dramatically. Traditionally speaking, pitching has always about presenting a problem, a solution and a big opportunity with a team that could go execute upon that. The reality, though, is that pitching has to be a lot more sophisticated now. The art of the pitch needs to be more focused on a niche problem with a large addressable market, a team that is ready to execute upon an expanding vision, a market that is right for a new venture and most of all leaders who can communicate, navigate and innovate their ideas to execute upon their vision. Not to mention investors want to see traction and social proof. Video is one of the best ways to convey things like proof of concept, product-market fit, customer validation, market demand, and more…
What we always recommend is pitch practice with video and formal pitching with video. Do your pitching as much as you possibly can on a Web camera, on your phone, and then send that digitally to people within your target audience. Like investors, like members of the press, like sales prospects, and get your story down, get your bullets down, get your confidence up and get just yourself to a point where you don’t freeze and you don’t choke when presenting in real life. Check out this video from Venture Summit West, which has some good feedback on pitching and startups. If you need a solution to help you with your video creationg, sharing and tracking, check out dubb.com.