How to pitch your business in a few sentences with examples
All entrepreneurs are often asked to talk about their businesses by different kinds of people in various settings, and the way you explain it can determine much.
As an entrepreneur, you should always be ready to be asked questions about your business and what you have to offer. Many entrepreneurs find it challenging to briefly describe their businesses when asked. Instead, they end up giving a whole lot of information that may confuse their listener or worst case scenario, bore them.
From the famous TV shows Shark Tank or Lions Den, many entrepreneurs have lost great deals of partnerships with the "Sharks" or "Lions" because of their first opening statement. From the shows entrepreneurs are encouraged to make their opening statements in not more than 3 minutes. What a challenge! Can you pitch your business in 3 minutes?
Let’s dive in deeper on how you can effectively pitch your business using our IPPUA method.
Let’s expound shall we.
There are very many things to consider when thinking about starting a new business or startup company. One of the most key things you must identify is the industry or niche you are venturing into. While pitching your business to an audience, it is critical to start by mentioning which industry your business belongs to, since there are many industries in the business sector. Some of them include:
There are many other industries your business might belong to that I have not mentioned, check out this article on the types of industry sectors to discover.
Mentioning your industry at the beginning of your pitch will capture the attention of your audience and also give them a snippet of what your business is all about. This will give you a chance to actually say less.
A good business must be solving a problem and addressing specific issues met in their industries or communities in the hope for a change. What is your business problem statement? Let’s look into how you can identify your problem statement that will fit perfectly in your business pitch.
In your problem statement you should mention 3 key things:
An example of a good problem statement is this:
Many people face a common challenge when it comes to looking for the perfect vacation or photography spot around Nairobi. This affects their planning and lowers the tourism rate around the county. [product/service statement]
P-Product / Service
We now move into the heart of your business. Your products or services. The questions to answer in this section of your business pitch are, “What are you offering?” or “What do you do?” .
When describing your products or services in a brief pitch, avoid mentioning the actual price of what you offer. However, you can mention keywords like:
Since this section is tied to the above section Problem, let us finish the problem statement as we give an example of how to describe your product or service.
Many people face a common challenge when it comes to looking for the perfect vacation or photography spot around Nairobi. This affects their planning and lowers the tourism rate around the county. Our business offers an easy to use mobile app platform where anyone can search for a specific activity and get results of places where they can have their experience.
Stating how your business is unique is a great selling point to tell your audience. In this section, you should be able to explain why you are different from other competitors and more deserving. Take note that this is not a section where you call out other businesses you might be in competition with. It is wrong to mention other brands and compare them directly especially in a pitch.
There are many ways you can describe your business’s uniqueness. You can either mention any rankings, awards or recognition that your business may have received, or a unique way that your business operates to deliver efficiently. Here are some examples:
We are proud to hold the title of the Best Small Business at the Mombasa Business Awards 2022.
We have been ranked the 3rd best software company at the Nairobi Tech Survey 2022.
We pride ourselves in delivering quicker results through our unique delivery system.
We focus on providing custom made products for customers.
We uniquely offer online shopping solutions for our customers who are able to shop at their own convenience.
A- Action statement
While giving a pitch for your business, it is good to finish with a strong action statement. An action statement consists of positive keywords such as:
These keywords help you tell your audience that your business is assured and eligible to offer what it’s supposed to and live up to standards.
An example of this in a statement would be:
We are a result- oriented business focused on delivery solutions.
We are critically time- bound and focused on being quick and efficient with our services.
We are a customer- focused business as we value our client’s experiences while using our products.
We are quality- based and care for the longevity of our products or services.
Pitching your business has never been easier using the IPPUA method. It is good to also note that as you're pitching your business, confidence is key and it brings people to your attention.
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