Written by Craig Whitcomb
Preparing for a Remarkable Venture listing pitch can be a new experience for those not accustomed to presenting. One of the most important factors in a successful pitch is being concise and getting straight to the point. Here are some tips to help you prepare a concise pitch:
Research the company
Before the pitch, it’s important to research the company you will be presenting to. This will give you an understanding of the company’s values, objectives, and target market. Knowing this information will allow you to tailor your pitch to the company’s specific needs and interests. Select the company that you would most likely want to license or partner with and use them for preparation. Later you can research the actual inquiring company and customize your pitch to match.
Identify your key points
Once you understand the company, identify the key points you want to convey in your pitch. Most key points will be universal. Key points should include the problem your invention solves, how it solves the problem, and the unique features that set it apart from other solutions. Keep your pitch simple and to the point.
Prepare visual aids
You may want to prepare a pitch deck or other visual aid containing a few concise key bullet points, pictures of the prototype or model and even an embedded sales video. Combining visual information with your pitch helps the inquiring company understand and retain your idea. *For free presentation slides, go to Google Slides.
Focus on the benefits
During your pitch, focus on the benefits of your invention rather than its features. Avoid backstories and accounts of your experiences unless the inquiring company asks. Companies want to know how your invention will solve their problem and benefit their customers so keep focused on the solution benefits.
Practice your pitch
Practice makes perfect. Practice your pitch several times to ensure that you can deliver it smoothly and confidently. Time yourself to make sure you stay within the allotted time for the pitch. Most recommend 1 to 3 minutes for a product licensing or sales pitch which will hold the inquiring company’s attention and allow enough time for you to covey licensing information. Allow 10 to 20 minutes for pitching a business plan since there is significantly more content involved.
Pitch to family, friends or record yourself pitching to improve. Continue practicing during the next Remarkable Venture Inventing steps to make sure you are prepared for inquiring companies.
Be ready to answer questions
Be prepared to answer any questions the company may have about your invention. Practice answering common questions from a company or consumer perspective and be prepared to explain your invention from different angles.
Summary
Preparing a concise pitch for your Remarkable Venture listing requires research, practice, and a clear understanding of the company’s needs. Focus on the key points, prepare visual aids, and be ready to answer questions. Most importantly, keep your pitch simple, to the point, and focused on the benefits of your invention.
To continue the Remarkable Venture Inventing series, read: Royalties – Mastering Licensing Agreements to Guarantee Results next.
Related Community Group discussions: Pitches and Pitch Strategy
Please help the community by adding your expertise relating to this article or asking/answering questions in the group discussion below. Remarkable Venture does not offer legal advice. Consult with a qualified Attorney for decisions concerning your particular needs.
