Stay focused on the most important parts. Get to the point quickly.
Try using a pitch deck, which is like an outline. It will help you understand what to include. You can find templates online, some of which are free. (See resources.)
Use a story arc with a beginning, middle, and end to engage your audience. A simple bulleted list gets boring and may not hold their attention.
- For example, start with the problem or need for your product or service. Then describe how you discovered your idea to solve it. Follow that with some of the challenges you faced and how you dealt with them.
- You could also tell a story of potential impact. For instance, describe an individual with a personal need for your product or service and how your solution would impact their life.
Try to tell a story so well that people stop looking at their phones.
Be prepared to back up any claim you make during your pitch. Have the data, numbers, and credible research citations ready to support what you say.
- You could present summaries of reproducible data on your product’s technology and offer to share details with those interested.
- If your product will be used in medical treatment, show your plan for insurance reimbursement, including the billing code that covers the treatment or your plan to obtain one.
- Show a summary of data you have showing the percentage of the target market interested in your solution,
Develop versions of your product description pitch for different purposes.
- Elevator pitch: You will need a brief description of your idea to use when networking. Have several length versions from 20- to 30-second to several minutes to use according to circumstances. Include the most important and interesting information. Keep it easy to understand and memorable. Prepare an elevator pitch early in starting your business since you never know when you might meet someone who could become an important connection.
- For a formal introductory presentation, you may want a five-minute pitch—illustrated with slides—that concisely includes the most important information.
- For a presentation to potential investors who have shown some interest, you may need a more detailed and longer pitch explaining how to access relevant details.
Foundation for Shared Impact. How to Pitch Your Business – All the Basics You Should Learn. Blog. Accessed 3/9/2023.
Koch K. How to Create an Effective Biotech Pitch Deck. ULP. May 29, 2020.
Shimasaki C. What to Put in a Biotech Investor Pitch Deck? Linked In. June 25, 2016.