What is Fast Pitch? the essence of fast pitch is putting your mouth where the money is...
Paula Sands Live discusses the Fast Pitch competition with Jenny Garner
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!)