Clarity and memorability are the two key elements of sticky pitches. After all, top VCs listen to at least 50 pitches per week and even more during pitchfests and other dedicated events.
There's a good reason why Michael Harper, founder of Bigcommerce, a $75 million-backed company says that pitching on Mondays is the worst
. The majority of VC partners meet up on Monday mornings to discuss the potential deals and decide on investments. If you pitch later in the day, you'll have to wait for a whole week till their decision. Additionally, your idea may get lost and forgotten in the bunch of other business pitches delivered that week.
So, how do you blend in the stickiness into your pitch? I've recently found this great exercise coming from André Knol, Co-founder, and CEO of Innoleaps
called "Peer Pitching". Here's how it's done.
Make two teams. You can invite some startup friends over or just split your in-house team into two groups. Now, set the timer for 5-10 minutes and let each team deliver the prepared pitch. Have everyone else listen carefully without taking notes. Next, take a 30-minute break, drinks some coffee and chat about other stuff before returning back to the arena.
Here comes the good part:
Your teams should exchange leaders and the assigned person has 10 minutes to deliver the new pitch for the competitive team without any further consultations. Once the timer buzzes – present your new pitch the best way you can for the opponent.
The particular value of Peer Pitching is that it allows you to understand better, which information sticks and which facts the audience retains. Seeing your story told from another angle also offers you a fresher perspective on your key metrics, general storyline, and the presentation bottlenecks.