I have seen marginal ideas funded and great ideas shot down for the same reason: The pitch.
While business plans, financial plans, market research, product development and the rest are all absolutely important, they can all be undone in a 10 minute pitch. Learning to pitch is straightforward. You need to practice. Start by practicing in front of a mirror. Speak out loud. Believe me, I have spent many hours pitching out loud to a mirror or wall. This will get you comfortable with your content and voice. Next, you need to practice in front of a friend or co-worked. Someone who understands what you are talking about so they can help you improve the message.
From here most go straight to the major leagues. They pitch an investor. Though this can work, it is risky. You are only going to get so many investors to pitch to. You do not want to waste these opportunities. Thankfully there is another step available here in Iowa from the Technology Association of Iowa (TAI). It is called Pitch and Grow. On September 18, Pitch and Grow X happens at the Innovation Expo in Coralville Iowa.
At Pitch and Grow, entrepreneurs will pitch their business to a supportive group of peer CEOs, CIOs, business development experts, industry professionals and business-savvy people. In return, they have a unique opportunity to receive constructive feedback on areas such as fundraising, value proposition, business plan, management team, sales/marketing/support and building strategy. Many past presenters have made critical connections and picked up great feedback on how to make a stronger pitch. Check out Pitch and Grow X and sign up to Pitch today.
See more of Mike Colwell's personal blog at bizci.com.