On 21 June, the top 10 finalists in our Entrepreneur Competition participated in a pitch training session, facilitated by Phaksio Tsotetsi and his team from THUD (TheHookupDinner). The training focused on helping the finalists perfect pitches for their businesses.
Why pitch training?
Most entrepreneurs have been doing what they do for so long that they have information overload. This results in their pitches becoming cluttered and long-winded, with the result that potential investors and clients may get lost. They may be left wondering exactly what it is you do and what you are selling as the core of your business.
During the business pitch training, the team aimed to de-clutter participants’ offerings.
The finalists focused on identifying the top five things an investor would love to hear, keeping with the “mini-skirt” principle – a pitch must be long enough to cover the basics but short enough to be attractive.
The format of the training
The training involved developing and refining the structure and delivery of each of the participants’ pitches.
An ideal business pitch incorporates five key elements:
- the “hook”, supported by your introduction (who you are)
- what your business does
- how much your product or service costs
- how you can be contacted
- what you need (your “ask”).
Participants in the training were guided in structuring their pitches to include these elements, while remaining true to the unique selling propositions (USPs) of their businesses.
Business is about people – and people buy from people. It’s key that the training also addressed the finalists about the delivery of their pitches, focusing on the entrepreneurs’ confidence levels and ensuring that they always bring their personalities into their pitches.
As part of the training, two highly successful entrepreneurs shared information about their businesses and experiences. They encouraged the participants, boosting their morale and reminding them that challenges are part of the entrepreneurial journey.
Thanks to everyone involved in organising and hosting the skills development event, and to all the finalists who participated, for making it such a success.