What's In a Pitch?

Imagine you have this great idea to create a product or service to meet a need for a particular group or network. You write out the ideas, and after much research, those ideas are now a well-drafted final business plan. For months, and possibly longer, this plan has be re-written, edited, changed, and drafted several times before becoming the final product in your hands to date. The joy and excitement of knowing you have created something of need and value overtakes you every time you look at that plan. Now, you are ready to put the plan to action and get it to the market, however there is one issue standing in your way, finances.

In business, many entrepreneurs are faced with the impeding thought as to how h/she will financially be able to bring their vision to life. As an entrepreneur myself, and looking to start a dance company, the thought of how to get the funding and backing needed has stayed at the forefront of my mind. And though A. Quinn Performing Arts is a nonprofit, funds are still a needed component in order to help launch our vision.

Most companies use bank loans and investors to help finance their business and provide the working capital needed to operate during the first few years. For A. Quinn Performing Arts, our goal is to focus on obtaining grants and donations to aid in our startup cost, however, we are also seeking investors to make a donated ‘mission-related investment’ into the company. Regardless of what type of investor you are seeking to invest into your idea, you have to get the investor interested enough to buy in. So, how do you get an investor to invest in you and your idea? Through what’s known as the ‘elevator pitch’.

The ‘elevator pitch’ is used to grab the attention of investors and tell them why they should invest in you and your idea. In an elevator pitch, there are some key components one should incorporate in order to pitch their idea in 60 seconds or less.

An elevator pitch should have the following basic components:

• ·      State the problem – what is the opportunity
• ·      State your solution and how the solution will work in the market
• ·      Create a good closing statement to get investors excited

In an article titled, ‘6 Tips for Perfecting Your Elevator Pitch’, the author speaks on how to incorporate each tip into the three components listed above in order to create an effective pitch. For a full list of these tips and more details visit Entrepreneur.com.

As I close the final chapter of the preparation done over the last 12 months through my masters program, I believe I am now fully equipped with all I need to go out and start making my dream of a performing arts center a reality. I am greatful to have the opportunity to share the insightful topics I have learned here on this blog, and hope someone was helped by it. Now, as we shift, this blog will focus on keeping you updated on our next steps until we have our grand opening. I hope you continue on this journey with me.

Thanks for reading,

LaKesha, xo

Reference:

Entrepreneur.com