Eye on Entrepreneur > Pitch Process

Back to main

Every entrepreneur at least once in their lifetime will attempt to convince someone with the power to do something on his/her special idea. This is called the “pitch.” And although the fields of interest may vary, the basic skill of successfully pitching an idea, invention, concept, product, screenplays, business plan, or yourself remains largely the same.

I had the rare opportunity to be a panel judge on ABC’s American Inventor. I was joined by three other very successful entrepreneurs, Sara Blakely, George Foreman, and Peter Jones. The four of us visited six cities (LA, San Fran, Chicago, NY, Houston, and Tampa) where thousands upon thousands of inventors took action on their passions and waited in long Disney-like lines to be screened by the show producers. Only 50 individuals would progress to the next round – to pitch to us.

In each new city, I provided those new 50 inventors with a pre-game pump-up speech to emotionally prepare them for their pitch and to commend them on their courage. I told them that almost every viewer across America has an idea for something, but it was they who took action on their ideas, and sit here today with the chance to win a million dollars. I told them that destiny isn’t by chance. It’s by choice. It was their choice to pursue their passion that day – that changes their tomorrow – whether they win or lose. And I told them to listen very closely to what I have to say next. For them to receive a “yes” from three of the four judges and progress to the finals would require a passionate pitch. That within the first 20 seconds of their 2-minute pitch if we could not feel the passion behind the delivery, then we were not even interested in the invention.

I suggest the same advice to you. From the first words that pass your lips, be confident and take control of the conversation, sell yourself and your idea, and infect your audience with passion.

Start the pitch by stating:

1.	Who you are.
2.	What your idea is.
3.	Where did the inspiration for the idea originate.
4.	How is your idea fulfilling a specific need/advantage in the marketplace.
5.	Who is the competition in the marketplace.
6.	How big the marketplace - in revenues - is for your idea.
7.	What customer feedback/testimonials relative to your idea are available.

There’s truth to that age-old adage: you don’t get a second chance to make a first impression. And know this: You rarely get a second chance to make a pitch to the same person. So I recommend that you pitch to win by being prepared, positive, and passionate. -- PC