How did the term “pitch” become a staple in the language of entrepreneurs?
Well, indeed, the word “pitch” has become common in the world of entrepreneurship since the 80s. It started in Silicon Valley, California, where many startups were created.
Thanks to a short presentation, the challenge was to convince the CEO or investor of the opportunity for a meeting. Why not in an elevator?
It’s usually the perfect place where perfect timing forces you to listen and exchange ideas.
Once the floor button is pressed, it’s your turn!
You have until reaching the selected floor to convince.
Legend has it that Jeff Bezos convinced Amazon’s first investor in an elevator of an investment fund.
He explained his concept of an online bookstore in just under 2 minutes.
Result: $1.4 million raised to launch his venture. The story doesn’t mention at what valuation he entered.
Frederic Mazzella, founder of BlaBlaCar, reportedly convinced an investor at an event in Silicon Valley. Serendipity allowed for this meeting and a $600,000 investment.
Similarly, Xavier Niel reportedly convinced an investor to join him in his adventure to offer high-speed internet at very low prices for €500,000.
If you have good sales skills, pitching should be easy for you, as long as you follow some good advice to effectively sell your project. It’s an exercise you’re familiar with, but this time it’s your own project, not a product or service from a company.
You’ll put your heart into it, but not too much, stay clear-headed and composed.
On the other hand, if you’re not comfortable with pitching, if you’re a co-founder, working as a duo can be a solution. In the form of a ping-pong game, you pass on the elements of your presentation to each other. You support each other in a moment where your partner may be more comfortable with the tricky points of your presentation, such as finance, technology, or value proposition.
During this pitch, defining your roles and speaking opportunities is crucial.
We have written a comprehensive article on MY PITCH IS GOOD.com that we recommend you to review in order to have the key elements in mind to make your pitch effective and capture the attention of your investor.
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