Every entrepreneur in the world thinks they have a great idea.
But how do you convince other people?
By delivering a stellar business pitch, of course.
We decided to ask a professional for some tips on how to pitch an idea.
Heres the inside scoop.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
Here are the five tips she gave us to better your chances of nailing a pitch.
Maybe it will make their day-to-day life easier or maybe it will save them money.
Did you know?
Nail Down Your Product
Youve got this amazing idea!
Everyone spills stuff, right?
Well, what if when you made a big mess… you could just suck it right up?
You just pitched a vacuum.
verify you’re free to explain what youre selling quickly and efficiently.
Show that the product or idea deserves to be backed by pointing out what makes it different from competitors.
Where your product is on the timeline will mean a lot to an investor or buyer.
Is it a newly formed idea that hasnt been tested and sold?
Or have you already moved forward with manufacturing and set up a cost model?
Go to your pitch with numbers that validate why it would be beneficial for the buyer to back you.
Yeah, your Do-It-Yourself Ice Sculpture Kit is pretty cool (see what I did there?
), but try selling that product in a Walmart in South Florida.
It just doesnt work youre in the wrong market.
This point goes back to knowing your product.
Consider where it would sell best and include that in your pitch.
We want to know scalability, says Thomas.
Whether or not you should be in a hundred stores or thousands of stores.
Doug McMillon tells us all the time Be prepared, says Thomas, referring to Walmarts CEO.
So thats exactly what we want for you.
Practice makes perfect is a well-known mantra for a reason.
Rehearse your pitch in front of real people beforehand.
Kaitlyn Blount is a former staff writer at The Penny Hoarder.
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
