Develop a Two Minute Video Pitch
As you are developing your pitch, be sure to keep in mind the value of a real person during the presentation. Many investors consider the passion of founders or team member to be important when considering a pitch. The human element of someone excitedly presenting their idea is not easily substituted.
- The ‘hook’. Engage your viewer immediately with a compelling image and/or a few words.
- The plan. Provide a well-reasoned, clear business case using the ‘eight questions’ guide below.
- The close. Engage your viewer again with a simple, brief and compelling visual and/or verbal message. Your goal is to keep your viewer thinking about your product after your video ends.
THE PLAN: Eight Questions your Pitch Must Answer
- What is your problem/solution equation?
- Creatively and quickly state your potential clients’ problem that your company will solve.
- Explain your innovative solution to your prospective clients’ Briefly describe what it is you sell. Do not go into deep detail.
- For example: For users seeking reliable, portable, interactive computing power, the iPad provided an innovative, affordable, versatile solution.
- Who is your market?
- Briefly discuss who you are selling the product or service to. What industry is it? How large a market do they represent? Be realistic about your market share. For example: if you have an online study aide, do not assume your market is all students, but rather students of a certain level, with internet access, with prior history of use of study guides..
- What is your business model?
- How do you expect to make money? Is there other value your company provides? For example: if you serve the elderly, you might make money from small subscription services, and you might also serve a social need, or a ‘double bottom line’ value.
- What is your timeline
- Current status?
- Describe the milestones the company has achieved – customers, partners, funding, etc. Do not be afraid to promote yourself, but be accurate. Be careful, in responding to this question, not to sound like a ‘sales pitch,’ but like a realistic reporter of your measurable successes.
- Future plan?
- Where are you going in the near term? Who do you need on your team, what materials do you need, what resources do you need, and when do you plan to acquire them? Show your viewers that you have a very realistic, well-conceived, well-organized set of milestones in your company’s future.
- Current status?
- Who is with the company and who is helping?
- Tell your viewer a little about you and your team’s background and achievements. If you have a strong mentor or advisory group, briefly describe their credentials.
- Who is your competition?
- It may be that you have direct competitors, in which case acknowledge that you realize they exist and that you know something about their product or services. If you have no direct competitors please remember that for brand-new ideas the competition is the lack of a comparable solution. That is, whatever your prospective clients are currently doing to handle the problem you solve, that is your competition – even if it is nothing! Nothing is a very strong competition, because your product has to be compelling enough for people to feel they really need it even though they have never needed it before.
- What is your competitive advantage?
- Effectively communicate how your company is different and why you have an advantage over the competition. A better distribution channel? Key partners? Proprietary technology? If you have no direct competitors, explain your compelling value proposition that will bring prospective clients to you even if you have a very new idea.
- What are you looking for?
- Remind the audience about your next steps (this is a place to quickly revisit Question #4, with a reemphasis about your nearterm needs). You may be seeking a funding round, or an advisory panel, or needing to build a prototype. Make it clear to your audience that you are well aware of your business trajectory and you know where you want to go.