I have been looking at some examples of pitches on the internet and came across many good pitches and many bad pitches. One example of a good pitch that I watched was from the show Shark Tank. Jill presents her idea to the sharks about a product that she created to help women waste less of their lipsticks.
These are some of the aspects that make her pitch successful:
- The product that she is pitching solves a problem that many people have.
- She had an excellent presentation (even mentioned by one of the sharks). She looked like she knew exactly what she was going to say and looked very confident.
- Explains very clearly why this product is important and why people would buy it.
- She is prepared. She did not falter with any questions the sharks asked her.
- Demonstrated how her product works and how easy it is.
- You also need credibility to show that people want your product or service.
- These aspects of her pitch allowed her to make a deal with three of the five sharks.
This next example illustrates a bad pitch. A group of three men are asking the sharks for money to support their beer flavored ice cream business. The beginning part of their pitch went smoothly and some of the investors really liked the product. The next part of their pitch is what ruined their chances or potentially striking a deal. The sharks started asking questions about their numbers and stats of how their business has done thus far. They went around in circles and did not answer their questions directly. They seemed like they weren’t prepared for any of the questions about their business. They also started talking over each other, trying to answer the questions and it made their presentation seem messy (unlike Jill from the first example who seemed very prepared to answer any question that was thrown at her).
Overall, good pitches are clear and the presenter must have a comprehensive understanding about their business.