What is Fast Pitch? the essence of fast pitch is putting your mouth where the money is...
Budding and Seasoned ENTREPRENEURS residing in Henry & Stark County are invited to pitch their Business Concepts and Product Ideas to a group of judges from the business, investment, and entertainment community. PRIZES will be awarded in the existing business expansion category and the manufacturing/retail business start-up category. Remember, the decisions of the Fast Pitch Committee are FINAL and that a minimum of five (5) entries (contestants) is needed in the business start-up competition category.
So start polishing your WHAT IFs and your IMAGINE THATs for new apps, widgets, goods and services for a chance at cash prizes and exposure to investors, business leaders, the media and experienced mentors.
What are the judges looking for? The answer to six key questions...
- So what is your business all about? In other words, what problem are you trying to solve or what is the need you are trying to fulfill?
- Who will your customers be? Who are you selling to and how large is your market? What is your market's demographics profile?
- How will you make money? In other words, how do you intend to get your product or service to your customers; what will they be willing to pay for your product or service?
- Who will you be competing against? Is there an 800-pound gorilla out there ready to take you down?
- How do you expect to stay in business? In other words, what is your competitive advantage; how are you unique; can you innovate faster than the Gorilla; do you currently have a patent; a patent pending; need one?
- Who is on your team and what are their backgrounds? Explain why you and your team have the experience to succeed.
- View a twenty minute video pod cast explaining the Fast Pitch
Any presentation tips?
- Grab the judge's attention early. Hook them, then reel them in. This is your Elevator Speech.
- Whenever possible, weave your business idea into a story, YOUR Story.
- Keep their attention by being passionate about your idea, product or service. After all, you are going to make your customers better off.
- Keep the goal in mind. What is it that you need to bring your idea to market? Money? Marketing? Mentoring? Production? A combination?
- Be succinct, concise and clear - You only have TEN MINUTES to convince the judges to pick YOU!
- Do not overwhelm the judges with technological jargon.
- Stick with the highlights - speed talking is bad form.
- Practice, then revise, then do it again. Take advantage of the live practice session.
- Remember this outline: Elevator Speech (one minute); Exposition (using your gift for gab, an easel, a flip-chart or a sample of your product, explain your business to the judges using the tips above in 4 to 5 minutes); Explanation (this is where you will answer questions from the judges).
- Pick up some tips from Joel Youngs' video pod cast.
- Take a look at the Judging Criteria (yep, this is what the judge will be filling out!)