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Getting the opportunity to pitch for a new business is a crucial moment for many teams. They want to win the pitch, and they develop a strategy to show off their capabilities and achievements. A good pitch should be able to balance the various elements of the presentation. According to a survey conducted by HBR readers, it’s important to understand the audience’s expectations and the person you’re pitching to.

Survey results suggest that the more senior members of the audience expect more from your presentation, and they expect you to talk about the problem or challenge that’s facing the company. This means that you should focus on the team’s passion for the problem and their resilience to solve it.

  1. Share Real Anecdotes

Try to start your presentation by talking about the specific problem that your product or service solves. However, instead of using tech talk and buzzwords, use real names and customer stories to describe the solution. This strategy will allow you to stand out from the crowd and make the audience want to hear more about the company. Having a few compelling customer stories will help you build a stronger relationship with those interested in the company.

  1. Focus on the Problem Your Product Solves

One of the most important factors in developing a good pitch is the team’s passion for the topic. According to one executive-level participant, the team’s passion for the problem and their mastery of the details are two of the most important factors that they look for in a good pitch. Another participant said that passion should go beyond your product. However, it’s important to remember that pitching about yourself doesn’t have to be about the product. Instead, focus on the people who are interested in the company.

  1. Keep It Simple

Many entrepreneurs often deliver their pitches with too many details. It’s not because they’re actually planning on addressing all of the details of their business plan, but because they’re anxious and nervous. It’s important that the team members take a deep breath before they speak. This will allow them to focus on the most important points that they want to share and avoid making a big deal out of the little details. Having a well-designed pitch can help you deliver a more effective and compelling presentation.

  1. Respond to Questions Carefully

Most decision-makers don’t want to be “pitched.” They want to be engaged, and they want to fully explain their points of view before they hear your solution. The more senior audience members are likely to want to have a conversation with you, and they’re also more likely to ask questions.

  1. Address Competition

One of the most common mistakes that entrepreneurs make is saying that they don’t have any competition. This is a rookie mistake, but it’s also important to remember that everyone has competition. For instance, if Henry Ford wanted to make a car that people would want to drive, he had to find a way to get them away from other transportation options.

One of the most effective ways to show that you have a competitive advantage is by presenting your competition in a matrix format. This strategy will allow you to highlight the various advantages that you have over your competitors.