One of the biggest mistakes committed by entrepreneurs when making a business pitch is being bogged down by its complexity. A business pitch doesn’t just serve as a guide to prospective investors; it summarizes the purpose of the enterprise. Although many successful businesses can have complex operations, their basic function can be concisely put.
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All business pitches answer this question: what can I do for you?
To simplify a business pitch, entrepreneurs must understand the core solution they provide their customers. What is it about their business that helps their target consumers, and how will they do it better than the competition? What sets its solutions apart from the rest? Exactly what the product offers is the main attraction.
Because a pitch relies on simplifying the enterprises’ entire high concept, entrepreneurs should understand what their target audience wants and frame their pitch accordingly. An entrepreneur may need to do their homework to position their product properly to their clients, especially if they cater to a niche market.
The conciseness and clarity on product offering should extend to the presentation. Rather than merely describing the product’s features, entrepreneurs must frame their pitch and its features based on how it can solve present and projected issues customers face with regard to a certain need.
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Longtime entrepreneur and Unaico founder Jarle Thorsen understands the value of defining the core idea of a business proposal. Visit this blog for more updates on bringing entrepreneurial ideas out of the drawing board.
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