Purpose of a Pitch
Module 2 * Part 1
When you have identified a social problem and have thought of a solution, it is now time to put it in action. But it is not enough for you and a few of your friends to perform the solution on your own. You need to be able to scale up, and that means you need to be able to convince others to help you. And by "help", we mean devote resources. So how do you get resources? You need to convince others on an occasion. This "occasion" is called a "pitch".
A "pitch" is basically a presentation where you present your solution as a proposal to a funder / investor, and they approve of or reject your proposal. Pitches are a formal occasion, with a specific structure, and with specific requirements.
There are two kinds of pitches:
- Elevator pitch: a very short business pitch designed to be short enough to take place during an elevator ride. The goal here is to intrigue potential funders / investors for them to provide contact information for further discussion.
- Presentation pitch: a structured presentation in front of a group of funders / investors that outlines the most essential parts of the proposal. There is generally a Q&A session afterwards.
- It resonates the funder / investor's needs. There is a problem you wish to solve, but the problem has to be something that the funders / investors care about as well. Through pitching your proposal, you can gage whether the problem you have identified is something that others care about.
- It tries to convince others. Assuming that your funders / investors care about the problem you are engaging in, they have to see that your solutions work. This is a good way to have a reality check, by having others critique your solution.
- It seeks resources. The most important part is whether the funders / investors are willing to support your project, and in what way. No solution is useful unless it can actually be executed on scale. Again, this is a good way to have a reality check because if others are unwilling to lend support, then you may need to revise your proposal to make it more persuasive.