Pitch Perfect with Wall Street English Tunisia!
Pitching an idea can be uniquely challenging. It is your first step to set the wheel of your business in motion. A good pitch is similar to a magnet that attracts potential investors. It shows and proves to them why your project is the next big thing and that it is worth their hard-earned money. If you’re setting up a business and do not know how to make the perfect pitch yet, don’t worry. Wall Street English has got you covered!
On the 8th of October, 2019, Wall Street English Tunisia held an event on How to Master Your Pitch featuring Mawen Dhemayed, the co-producer of El Pitch, an entrepreneurship TV show aired on El Hiwar Ettounsi, and Marwen Amamou, the winner of the TV show and CEO of his winning project Payme.
Our guests kicked off the event by explaining what an elevator pitch was – a brief description of an idea in which you have to say all the necessary information about its concept and show why it’s a great idea is a short period of time. Then they showed Marwen’s amazing elevator pitch, followed by other pitches from different participants and paralleled with comments from the attendees and tips from the guest speakers.
“We are very happy to share these tips on how to get your audience interested in you!”
First, make it concise and straight to the point. An elevator pitch is short. Prepare ahead and use your time wisely in order to say the most important points in the simplest and most efficient way. You should first speak about the problem and then give the solution. Relate it to the community you live in and show its value. Avoid any redundancy or overshare of information. In his elevator pitch, Marwen Amamou used the example of Paypal. It was an educational trick which proved that his idea was relevant to the Tunisian community that lacked the means of online payment.
Second, different investors need different pitches. Make sure to know who you’re pitching to and hook them from the start with an exciting introduction. Look at things from the investor’s point of view. This is important because, if you know who you’re pitching to, you will be able to anticipate what they might think and, thus, you can include the information to keep them interested.
Third, defend your idea and be confident. It is totally okay to feel stressed, but it is the way you manage your stress that makes all the difference. Show the listener that you believe in your idea and that it’s worth their while. They need to know that your idea is valuable and has something to offer them in return for their investment. The winner of El Pitch did everything possible to pass to the next stage of the competition. After failing to explain to the judges the legal side of the project, Marwan spent the whole night studying the subject. Just before his pitch, he grabbed some papers from the producers’ hand and walked into the elevator looking ready for any possible question. His hard work, creativity, and spontaneity led him to success and he left the investor wanting to learn more about the legal aspects of Payme. He got the second chance to face the jury and this time he was absolutely brilliant!
Next, dress to impress! The way you dress says a lot about you, and when pitching an idea, your dress code should scream “trust” and “responsibility” to the investors. In fact, Marwen Dhemayed mentioned the example of bank workers who always dress nicely and formally in order for us to trust our money to them. Similarly to bank workers, you need to look serious and worthy of attention and investment.
Finally, it is important to remember that investors will meticulously look for holes in your idea in order to dismiss it. They do not want to give away their money for something that they find unrealistic or uninteresting. To show that you know the subject well, you can use storytelling, numbers, and facts. Storytelling proves that you have gone through the problem yourself and shows how much it means to you and how genuinely dedicated you are to create a solution for it. Whereas numbers and facts will allow you to persuade the investors in a scientific way and give them solid proof of the feasibility of your project. Such techniques work wonders in spicing up your pitch. End your pitch with a call to action leave them wanting to know more.
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