We’re currently accepting applications for the Denton Pitch Competition, a shark-tank style competition where entrepreneurs and small business owners can pitch for the chance to win cash for their business goals. While fifteen applicants will receive free pitch coaching before the big event, we want every Denton entrepreneur or small business owner to feel comfortable applying for the Denton Pitch Competition and just pitching their business in general. It can be pretty nerve-wracking, if you’ve never done a business pitch before, to then have to pitch in front of a panel of judges and an audience. At the root, it is just talking about your business, but, what makes a good pitch? Creating a pitch that captures the essence of your business and leaves a lasting impression is both an art and a skill. Whether you're presenting to potential investors, partners, or customers, the impact of your pitch can shape the trajectory of your venture. Whether you’re applying for DPC or simply wanting to better your pitch deck, let’s talk about some of our tips for crafting a successful pitch and what we saw last year:
Sarah + Maggie of The Monthly Junk, 3rd place winners of the 2022 Denton Pitch Competition at FlintConf 2023 (photos taken by Will Milne)
Start with the Basics
The foundation of a great pitch lies in your ability to describe your business idea clearly and succinctly. Tell us what your business is, the problem it solves, and who your target audience is. Keep it simple, there’s no need for jargon or buzzwords.
Highlight Traction and Validation
Share the successes you've achieved so far. This could include customer feedback, sales figures, partnerships, or any other form of validation. Demonstrating that there is demand for your product or service builds credibility and confidence.
Share Your Goals
Outline both short-term and long-term goals for your business. While goals may evolve and a change in plans can be common, having a roadmap helps convey your strategic thinking. Discuss where you want your business to be in different time frames, showcasing your foresight.
Financial Literacy
Understand the financial implications of your vision. Outline key financial milestones that align with your growth objectives. For example, maybe you’re hoping to expand your team, open a brick-and-mortar or move into a larger space, how many customers do you need to be able to achieve these goals? How will achieving these milestones unlock opportunities for your business? This demonstrates your understanding of the financial dynamics of your venture.
Be Confident and Open to Feedback
Believing in yourself and your business is paramount. Confidence is contagious and inspires trust. Additionally, highlight your adaptability and willingness to pivot based on feedback or changing circumstances. This displays your agility as an entrepreneur.
Be Yourself
Let your personality shine through your pitch. This could be through your attire, anecdotes, or even a touch of humor. A personal touch humanizes your presentation and creates a connection with your audience.
The winners of the 2022 Denton Pitch Competition at FlintConf 2023: Juli James (Associate Director of Stoke, Moderator), Parker Wallace (CirclesU, 2nd place), Hannah McGinty (Modern Memoir, 1st place), Maggie + Sarah (The Monthly Junk, 3rd place) - photos taken by Will Milne
Lessons from the 2022 Denton Pitch Competition
Now let’s reflect on the previous year's Denton Pitch Competition and what worked for the winners. Their pitches were clear, full of personality, and a testament to strategic planning.
Dialed-In: The winners displayed an impressive level of preparation. Their pitches were well-rehearsed, and they delivered them with confidence. This polished approach showcased their commitment to their ideas and instilled confidence in their listeners.
Personality Matters: The successful pitchers used their pitch to express their individuality. Whether it was in their attire, their delivery style, jokes, or the anecdotes they shared, they personalized their pitches, leaving a distinct mark on the audience and further instilling the proof of their passion.
Traction Speaks: One common thread among the winners was their ability to showcase traction. They highlighted customer validation and positive feedback about their products. This tangible evidence of demand provided a solid foundation for their pitches.
The Denton Pitch Competition winners of the past year remind us that effective pitching is multifaceted. It's not just about reciting information; it's about telling a compelling story that engages, informs, and resonates with the audience. Keeping these tips in mind as you begin preparing your pitch, you can increase your chances of not only capturing attention but also leaving a lasting impact.