A pitch is a brief overview of an idea that can be delivered in the minute an elevator. It could be for a product, a service, or even a social enterprise or project. Learning to pitch is a skill you will use your whole life no matter where your first idea goes.
Do you know what you would say if you were lucky enough to step into an elevator with the CEO of a major Fortune 500 company?
The Idaho Pitch gives innovators and entrepreneurs from across the university the opportunity to practice their presentation skills, build confidence, and learn how to work a reception - while presenting their ideas to a group of business and professional judges.
Executing a solid pitch requires you to know what you are selling and why it is important. The essentials of a good pitch includes:
- A Pain Statement. What is the problem you are solving? Without a problem, there likely isn't a reason for your idea.
- Who has the Pain? Identify your target market, and how can you reach them. What is your business model you created to reach your target?
- What is your Solution? What is the value in the project you are offering them? Explain how your idea solves their problems.
- Who is your Competition? What are your competitive advantages over them?
- What is your call to action? What is it that you want from your target? A follow up discussion for specifics, an investment pitch or a referral to someone that will make your idea a reality.
The objective of the pitch is to get judges to give you their support by giving you a business card. A good idea with a good pitch equals a business card. A great pitch will get you a business card and signature,this means the judge has real interest and counts for more towards toward the prize money.