Local Pitch Competitions
What is a Pitch Competition?
Originally referred to as an "Elevator Pitch," pitch competitions allow competitors to pitch their complete business startup idea, hopefully to investors in the room, in the time it takes to ride an elevator to the top floor of a building. While times vary in different competitions, normally an elevator pitch should take about two minutes.
This short, but highly impactful speech is normally delivered as a presentation along with a presentation slide deck. The intention is that an engaging and thorough pitch will spark the interest of potential investors. You want the investors to ask for more information or a meeting with you to learn more after they hear your pitch.
Key Components of a Good Pitch
- Describe the problem you are solving or the pain you are removing by telling a story in a way that others will recognize.
- Explain how your solution solves this problem in a way your audience will understand. Sell your value proposition (how your solution creates value for the customer). Describe the technology, secret sauce, or magic behind your product or service.
- Show there is a market for your product or service. Describe your ideal customer and tie in your solution (above)
- Explain your business model, how you will make money, your channels of distribution and gross margins.
- Describe your position in the marketplace. What comes to mind when your customer thinks of your company?
- Explain how you will identify and reach your customers to make sales. Convince your audience you have an effective marketing strategy and sales plan.
- Provide a complete view of your competition. What is your competitive advantage? Tell investors why your company is better and not why the competition is bad.
- Talk about your team. List the key players of your marketing team, board, advisors as well as current investors. Discuss your team’s production, marketing and financial expertise. Talk about holes/gaps in your team and how you intend to fill them.
- The numbers tell the story. Even though any sales forecast is truly an educated guess, experienced investors will see through your story if your financial projections are weak. Provide a realistic summary of start-up costs, sales forecasts, cost of goods sold, expenses, and anticipated profits.
- Discuss what you consider your milestones. What is the current status of your product or service? Talk about what the near term future looks like in terms of key performance indicators. If you are seeking money from investors, what would you spend their money on?
This seems like a lot of information to share in just two minutes and it is. This is why working with expert consultants on The Hatchery team can help. Learn more by attending workshops, online or in-person classes, or attend events by College of the Siskiyous or any of our partners to thoroughly hone your business startup idea into a winning pitch.
Siskiyou Startup Weekend
Got a Great Business Idea?
Get help launching your product or service from enthusiastic mentors, coaches, investors, cofounders, and sponsors during this regional event powered by Google for Entrepreneurs.
Join us for an engaging, fast-paced weekend of consulting, brainstorming, and hands-on experience developing and pitching your business idea. This weekend is designed to catapult your great idea into a business plan of action!
Startup Weekend workshop will help you:
- Gain new business skills and insights to achieve your goals
- Instill the confidence to "make it happen"
- Acquire the tools and resources to launch your great business idea
2018 Siskiyou Startup Weekend
Date: October 5-7, 2018
Location: College of the Siskiyous Academic Success Center, 800 College Avenue, Weed
Siskiyou Startup Weekend is organized by a local volunteer group of community members, educators and agencies committed to supporting startups in our region including: the Women’s Business Center at JEDI, College of the Siskiyous, Mt. Shasta Chamber of Commerce, FireWhat Inc., Mt. Shasta High School Manufacturing Pathway program, NEC Small Business Development Center at SCEDC, and more.
The Siskiyou Startup Weekend 2017 was sponsored by Pacific Power, The Ford Family Foundation, Scott Valley Bank and others.
Contact The Hatchery
Phone: (530) 841-5834