Just like in baseball game, where hand position, arm angle, footing, velocity, trajectory – even the type of the hitter you are facing – determine how perfect your pitch will be, in the business world the way you communicate your idea can decide the future of your startup.

It can take years and years of practice to create a meaningful and compelling presentation that leaves a lasting impression on potential investors. In order to truly communicate what you offer and why you are unique, you need to master the tricks of pitching. This might sound a bit scary. But fear not, Kolba Lab has got your back!

On August 17, Kolba Innovations Lab hosted a workshop on the secrets of selling ideas. We invited Armen Margarian, the co-founder of NexusLab Inc and head of the Margarian Law Firm, and Rouben Meschian, an engineer with 15 years of experience in the software industry to share their secrets and give tips on perfect pitching. For those who missed the workshop, here are the biggest takeaways:

Plan your pitch

  • Pitch deck – In his book, The Art of Startup Fundraising, Alejandro Cremades mentions that to be taken seriously and get funding one should have a pitch deck. Have around 19-20 slides with infographics and other visual data to add value to your presentation.
  • Length of pitch – Prepare a 3 -3.5 -minute- long pitch statement to tell about your background, highlight the issue and offer a solution which you will be able to execute based on your abilities.
  • While planning your pitch statement, ensure you have answers for these four questions:– Who are you? – What’s your product/service? – Who is it for? (Your market) – What are the benefits?
  • Distinguish between feature and benefit: too often when pitching, people make the mistake of only describing their product (its features), while neglecting to mention why their product is better than other products on the market (its benefit) – in short, not talking enough about the added value.
  • While pitching to get financial assistance, pay attention to these five points:– Channels of distribution– Growth model– Revenue model – Costs 

    – Valuation

Keep practicing

  • Think over every detail of your appearance – your movements, your standing or seating position on the stage. Speak clearly, simply, slowly, and loudly. Ensure that technical equipment is all set up beforehand.
  • Know your audience – optimize and tweak your presentation for the audience, its language and culture.
  • Structure your pitch – know how to start, how to keep the audience hooked throughout the presentation and how to have a clear-cut finish, so people are not left bewildered whether it’s over or not. Plan some time for questions from the audience.
  • Do not put too many words on your slide – if slides can replace you, something is terribly wrong. Make sure the slides are readable.
  • Less means more – cut out all unnecessary information.

D Day: executing your pitch

  • Tell a story – to have a lasting impact on the listeners and package that story with context to help people grasp new information easier.
  • Remember that you are not your customer. If you like something, it doesn’t necessarily mean that anyone else will like it too. Instead, be user-centered and listen to your clients.
  • Instead of preaching something, have a conversation with your audience. Capture the attention of the audience and never let it go!
  • Speak only about what you know (better to share your experience) – be careful about your claims and don’t make up things, losing trust could harm your personal image and your startup.
  • Be agile – Startups are constantly changing, looking for ways to improve the services or products that they offer. That requires openness and readiness for transformations.
  • Love the subject – smile, show your enthusiasm, share your passion and inspire others.

Finally, like any other skill the more you do, the better you will become. Practice! Practice! Practice!

Have something else to add? Let us know in the comments section!