The adrenaline rush youths feel when they win any business competition is unparalleled. Battle of Minds is one of the competitions where students from different streams wait the whole year to participate.
Battle of Minds (BOM) is a prestigious international business competition that encourages young innovators and entrepreneurs to develop sustainable and groundbreaking business ideas.
To win this competition the first thing that is a must is a perfect pitch.
A straight pitch strengthens the chance to get selected. But how to make the perfect pitch? Don’t worry.
Here are some of the hacks from our experts to crack the perfect pitch code:
1. Begin with an excellent grabber
i) Attract Attention: Start off with an attention-grabbing quote, figure, or query that draws attention to the issue your solution solves. This establishes your pitch’s tone.
ii) Describe the issue: Make the problem relatable by highlighting the market gap or pain points that need to be addressed, like the rising need for wholesome drinks or snacks.
2. Recognise your viewers
i) Expectations of judges: Recognise that judges are professionals in the field who place a high importance on creativity, usability, sustainability, and profitability. Make your pitch fit these requirements.
ii) Comply with competition objectives: Your concept should have a long-term outlook and benefit the local economy or community, particularly in the food, beverage, or technology industries.
3. Describe your UVP or Unique Value Proposition: What sets you apart?
Whether your proposal is a new recipe, distinctive packaging, sustainable sourcing, or a creative distribution strategy, be sure to articulate what makes it unusual.
Why this time? Using recent consumer trends as a focal point, explain why your proposal is pertinent and topical.
4. Support your proposal with data marketing research
Show that you’ve done your homework by validating your proposal using data and industry trends. Analyse your competitors to demonstrate your knowledge of their strategies and to highlight the unique qualities of your brand.
5. Provide a Robust Business Plan Model of Revenue
i) Indicate in detail how you want to make money—whether it be through partnerships, direct sales, or subscriptions.
ii) Cost organisation: Give a summary of all of your expenses, covering marketing, distribution, and production.
6. Place a focus on social impact
i) Sustainability and durability focus: Emphasise how your concept encourages moral behaviour and reduces its negative effects on the environment.
ii) Corporate accountability: Talk about how your company can help the community by generating jobs or supporting regional suppliers.
7. Establish a Powerful Brand Identity
i) Brand Story: Describe how your idea came to be and why you are so enthusiastic about it.
ii) Visual Branding: Display dummy versions of logos, packaging, or websites to demonstrate the vision of your brand.
8. Make a captivating pitch deck
i) Slide Format: Employ a simple layout with little to no text. Concentrate on using images that bolster your primary arguments and address the issue, potential solution, market size, company structure, rivalry, finances, and sustainability.
ii) Use graphics: Charts and infographics help simplify your data without taking up too much space on your slides.
9. Add graph and flowchart
The best way to describe something in the simplest way is through graphs and diagrams. Since timing would be a challenging factor. Making a pitch that contains relevant graphs to back your pitch could be a creative approach.
10. Get ready for the Q&A
Prepare yourself to respond to difficult inquiries on viability, rivalry, and scalability. Remain composed and assured; when answering challenging questions, be composed and confident while demonstrating that you have given your response careful consideration.
Confidence is the key. Always believe that your idea has the potential to be revolutionary. Make your pitch around the idea very feasible and easily understandable. The proper showcasing of team dynamics and impromptu response while presenting might be the winning point for your pitch!