Pitch2Win provides students at De Montfort University with the opportunity to pitch their ideas for a chance to win a £250 cash prize and an invitation to the final awards ceremony in 2017.
Students will have 3 minutes to pitch their ideas to a judging panel. Although 3 minutes may not seem very long, being able to explain your idea clearly and concisely is the first test for aspiring start-ups and entrepreneurs.
We’ve put together some tips to help you prepare the perfect pitch!
It’s really important to concisely include the key information about your idea, while trying not to venture out on a tangent, as you may run out of time and miss out vital information.
What is your idea and why?
Tell the judges exactly what your idea is and why it may be unique. Think about what makes your idea different and explain why you want to make it succeed. Is there a personal story behind the idea or did you experience a problem first hand which inspired you to create a solution?
Where are you now
This is all about informing the judges what you have done so far with your idea. Even if your idea is in the very early stages of development, think about how you have progressed so far and let the judges share your excitement and enthusiasm.
Demonstrate that you’ve researched your target customer by explaining to the panel who will want to use your product or service. Help the panel imagine what you see.
How do you want to develop this idea further? In other words what are the next steps? Explain how the £250 cash prize can help with this if you won.
Silence is golden
Especially well timed silences. After you’ve delivered a powerful phrase or insight, allow the judges to process what you’ve just said by having a few seconds of silence.
Practice makes perfect
We know it’s an overused saying but it’s true! Try and practice your pitch in front of friends and family that will give you honest feedback. You will want to receive feedback about the content of your pitch and your presentation style.
It is important to note that 3 minutes means 3 minutes. Once you’ve gone over the 3 minutes, a member of our team will have to interrupt you mid flow, so ensure you also time your pitch when you practice.
Prepare for questions
Very often the judging panel will want to find out more about your business idea by asking questions when you’ve finished your pitch. A good way to prepare for questions is to develop a clear understanding of the different areas of your business enabling you to answer clearly and confidently.
Don’t leave your closing statement to chance. Think about what you want the judges to remember. Have you got a website where they can find out more information or maybe you want them to remember the company and your name.
Always finish with “Thank you” and invite the panel to ask questions about your idea. “Thank-you” is a polite and punchy statement which will round your pitch off nicely.
Last but not least, be confident in what you are pitching, if you’re not passionate and have no faith in your idea, why should others?
For more information about the Enterprise Team and how we can help you develop your ideas during your studies at De Montfort University, please head to our website.