Pitching your business ideas like a Pro
‘Hall of Fame’ Speaker and Business Author Douglas Kruger
Over the years, we’ve seen scores of presenters pitching their ideas on Dragon’s Den and Shark Tank. Some turn into puddles. Others are scintillating.
What do the good ones have in common, and how can we emulate them?
A strong pitch is actually fairly simple. It needs 5 parts, and very little else:
1. Introduce yourself
2. Establish the ‘why now?’ for your Big Idea
3. Introduce the Big Idea
4. Explain their input, and ask for it
5. Leave compelling reasons to act
With those parts in place, your entire pitch could take well under 5 minutes.
Let’s explore each part:
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Start by introducing yourself
Your intro shouldn’t take more than about 45 seconds, and should only focus on what’s relevant to them and this particular pitch. Credibility counts, but only insofar as it relates directly to this scenario. Be short, sharp and compelling.
2. Establish the ‘Why Now?’ for your Big Idea
Now set up your big idea with context. Show why your idea is important, urgent, interesting, or extremely cool. This is the part where you essentially say, ‘Here’s the situation right now…And that’s why…’
What has changed, or is busy changing, that makes this a great idea right now? Is some new trend emerging? Does a certain market have more money than before? Has something disappeared, leaving a gap? As an example, think of ‘the realistically proportioned doll.’ Its pitch was the response to a growing sense that we are hurting kids with body image expectations.
You can deliver you ‘why now’ in story form, relating how you spotted this opportunity.
Why not consider delivering you ‘why now?’ in a way that flatters the audience? “I know that you at BMW are on a drive to become the leader in energy efficiency. That’s what makes this idea perfect for you right now.”
3. Introduce the Big Idea
You’ve set the scene and provided context. Now tell them your big idea.
In a period of three minutes or less, try to:
- Help them to see it, as though it’s already up and working. What can you do to make it ‘come alive’ for them?
- Be specific about gains: what opportunities does this take advantage of, what does it allow them to 'own,' to be the first in, the biggest in, etc.?
- If possible, display growth or success to date. If you can’t do that, at least be prepared for the fact that you can’t: ‘This is a blue-skies idea for a bold, risk taker.’
- If it’s complicated, do not start by explaining how all the pipes fit together. Start by explaining that it’s a drainage system that takes away waste. Big picture first. Explanation later. Don’t say: “It’s a solution for defragmenting hard drives.” Instead, say: “It's a way to make computers faster.”
4. Explain their Input and ask for it
At this point, you must now clearly ask them for what you want. Neediness can undo you here. You are not begging. You are proposing something that is worth it for them. Do so with confidence.
You will need to talk projected numbers but do it responsibly. Give a few, ‘If/then’s, for example: “If we have this sort of uptake, then we’ll get these sorts of numbers.”
5. Leave Compelling Reasons to Act
Strongly summarise what is to be gained. Create urgency and desire by pointing out what could be lost by not going for this opportunity.
Congrats, you’re done! And this will lead naturally into the Q&A.
Douglas Kruger is a multiple award-winning speaker, who has been inducted into the Speakers’ Hall of Fame for excellence in his craft. He is the author of six business books published by Penguin, and a global keynote speaker specializing in innovation and