I Won $100,000 for My Business Pitch – and 3 Simple Strategies That Helped Me Do It | A businessman

Entrepreneurs have the ability to disrupt industries, inspire change and make the world a better place. But what separates the good traders from the great ones? The simple answer: It’s their ability to create their own business.

So, what does crying mean? Building your business means effectively communicating what your company does and how it provides value to your customers and stakeholders.

I started learning how to play the piano a few years ago, when I was a freshman at Babson College. Since then, I have spent countless hours pitching my app, TicketRev, to prospective investors, customers, employees and advisors. I have developed my skills by participating in almost every situation imaginable – from formal meetings and informal situations to high-pressure, high-stakes competitions. I learned a lot from each of those opportunities.

As I develop my background and succeed in competitions, many entrepreneurs I meet ask for my input advice. Here are three things I tell them to improve their game.

Related: 12 Surefire Tips for the Perfect Investor Pitch

Use with KISS method – Keep it Short and Sweet

The first time I pitched TicketRev to an audience was at the Rocket Pitch event at Babson in 2019. The event guidelines were straightforward – each marketer had three minutes and slides three to start.

Typically, founders are encouraged to create a slide deck with about 10 slides to fully convey their business idea. However, in the weeks leading up to the event, I faced the challenge of narrowing down the most important content to just three slides. Finally I focused on simplifying the essentials: the problem, the solution and our process.

Marketers should remember that they are not just creating a product or service but using it to solve a real problem for their customers. The fastest way to get attention is to clearly show that there is a problem and that customers are willing to pay for your solution.

Don’t just pitch your business – pitch your story

One of my most memorable matches happened in 2022 during a competition called ePitch, organized by Babson College. Launched in 2019, ePitch is a pitch competition for Babson students and alumni to pitch their business ideas, with a grand prize of $100,000. I was part of the audience that was still present at the launch event, and I knew that one day, I would be on stage presenting my business to the judges.

In a competition with a large audience and other games, it is important not only to present your company well but also to provide context about your background, what inspired you to start your business and why you and your team are the right people to bring this about. idea come true. Traders should not be risk averse. We need to generate passion, enthusiasm and creativity. After all, how can someone trust you if they can’t hear your feelings?

Related: Telling Your Startup Story: 4 Expert Tips for Building the Perfect Investor Profile for Your New Business

When the second edition of the competition was announced in 2022, I dedicated myself to preparing it as if it was designed for me to win. My ePitch presentation started with an overview of my background and business journey, emphasizing my interest and experience with sports events and concerts, as well as my ideas to solve a problem that is persistent in others.

By the time I launched TicketRev, the judges already understood who I was and what sparked my desire to create a unique business in the live events industry. Before introducing the key elements of a powerful slide deck – such as the problem, the solution and how it works – I spent about 90 seconds sharing pictures and details of my background, explaining how I achieved How is the concept of TicketRev. While I’m not sure what impressed the judges the most, I believe that sharing my story and my personality, and making that personal connection, played a big part in winning the $100,000 grand prize.

When I think of that moment, I remember not only the moment of victory on the stage, but also the whole journey of creating my pitch and sharing my story in a thoughtful way. It’s a lesson that has served me and my business well.

Know your audience

The start-up stages usually aim to convince investors why they should support the company. Consider “Shark Tank” or ePitch as examples. These areas are designed to encourage investors to provide financial support.

However, targeting potential customers is much more important than providing funding to investors. Not every company will raise money, but every company needs customers to succeed.

The important thing to understand is that customers want to know how your product or service will solve their problems. Investors, on the other hand, want to understand how big your business can be, if it can protect itself and who is leading it. Providing inappropriate or incorrect information can make your voice confusing and ineffective.

Related: A Marketer’s Guide to Designing a Pitch Kit That Impresses Investors

At TicketRev, our customers are professional sports teams. This has given me the opportunity to travel around the country, visiting world-class arenas and stadiums, and meeting executives who run the business side of sports – ticketing, analytics, fan engagement and more. . When I get to group managers, they want to understand how TicketRev will positively affect their business and increase their income, unlike investors who want to understand how big the business can be. As a big sports fan, it’s exciting to see behind the scenes how a sports team or league works and have a tangible impact on our company.

Building a startup and successfully launching it is like training to be a professional chef, athlete or musician. There are many sources that offer practical advice, but nothing compares to the importance of real life experience. As a professional trainer, you need to increase your reps because each repetition will improve you.

When I first put together the first version of my resume in college, all I wanted was for someone to listen and accept the need for my idea. Looking back over the years, it was those bedroom moments that gave me the practice and confidence I needed to walk into stadiums and throw TicketRevs at my favorite sports teams.