How to Pitch an Idea for a Young Entrepreneur Business
Never underestimate ideas of our amazing sons. Let's be their biggest support as they spark curiosity, boost momentum and productivity, and inspire them to dream. Ideas, no matter how large or small, can get them farther than ever imagined.
That said, it’s important to remember that in the world of business the way to take an idea to the next level is to pitch it to potential investors. The business pitch is a key component to any start up and can help to scale a business rather quickly. On the other hand, a pitch that isn’t well-planned or complete can potentially hurt your chances of getting your business off the ground.
The information below will provide more information on how the AMBASSADORS can create and present a business pitch to YALA investors and start their entrepreneur journey off on the right foot.
What is a Pitch?
A pitch is a concise presentation of a plan to launch a business. It is usually presented verbally in a meeting but can also be done through Zoom. In order to best convey the message, a pitch is generally accompanied by visual elements such as Powerpoint or Google slides, charts, graphs, or videos.
The goal is to present the business opportunity to inves
tors in a way that convinces them to invest in your venture. It should provide enough information to allow investors to make an informed decision but not too much detail that they become overwhelmed or confused.
Think of a pitch like a mini-summary of a business and its goals, market, and plans to expand.
What are the Reasons that you
Need a Pitch?
Your reason for creating a solid pitch, or business plan is to help you with start up costs, like resources, supplies, and equipment or to help you market your products or services.
Whatever the specific reasons for a pitch, the key is to be able to summarize the business, its needs, and request for funds in a positive and compelling manner. Your goal should be to make it almost impossible for your investors to pass up the chance to be a part of an amazing business.
What Should Be Included in a Pitch?
Your pitch should be 5 minutes in length Produce a powerpoint presentation, between 8-14 pages.
Included in the pitch deck should be:
Business Goals: A short introduction into the business
Problem/Solution: provide realistic details on what problems your products or services address. This is essentially what makes your business stand out from the rest, or a way in which your business improves on an previously-established idea, product, or service.
Timeline: . This can include launch dates, marketing timelines, a hiring plan, and any other pertinent information to the business growth.
Audience: This is information on the demographics of your target audience, or who you intend to sell your products or services to.
Marketing Strategy: It is important for your investors to know how you plan to advertise and market your brand and products. This can be a simple plan, but should be practical and achievable and may include a variety of channels and platforms in which you will advertise.
Financials: Start up costs and estimated profits.
What will you do with the Funds if you win?
What Can Be the Result of a Pitch Winner... Start up Cash for your business! Business License! Mentorship! Platform for table at The Black Market Place Make important connections in the business world.
If the pitch isn’t well organized, or the presentation lacks enthusiasm or solid strategy, it has the potential to negatively impact your child’s business reputation and brand. Keep this in mind as you help your child create a pitch. Practicing the pitch is the best tool they have!
While not every pitch is going to be successfully funded, it is important to ensure your child establishes effective communication skills to avoid not being taken seriously. Of course, many investors understand that kids aren’t going to be as polished as seasoned entrepreneurs, and so even the experience of presenting a pitch is a great lesson for kids.
Pitches Help Kids Grow and Develop into Confident Entrepreneurs
Knowing how to put together an informative pitch, and delivering it in front of potential investors, is one of the fundamental principles of entrepreneurship. Additionally, fine tuning a pitch teaches children important skills such as critical-thinking, creativity, decision making, and goal setting.
Kidpreneurs should learn to create a pitch so that they can become confident in delivering a presentation to family, friends, investors, or their local community. You never know who may be willing to fund their brilliant idea!
Here are some videos to watch for examples