The Recipe for a Winning Pitch
“I am very excited because we have brought together the judges of this year for the Early Ethical Entrepreneur Pitch Competition to ask them what they are looking for in a pitch.”
– Susanna, Director at Moral Fairground
Entering a pitch competition for start-ups and especially start-ups in the ‘business with purpose’ space can be very rewarding, but it can also be a little overwhelming. Just what are the judges looking for? How does one make a winning pitch? What will help score higher points to make an impact on the panel’s final choice?
A winning pitch lends itself to a strong ability to bring people together to create a tangible solution to a social need. Just like a great meal can bring people together, so can a creative pitch. A lot of people have a potentially great idea that could change the world with a meaningful impact, yet do nothing about it because they disregard it as something too difficult to achieve or have no means of testing it out. Have you ever had that great idea to make a difference or thought: ‘I need to do something about that?’ Sometimes, the ideas we have to change in the world can turn into impactful and profitable enterprises. The same way we can gather ingredients to prepare a new style of meal, we can bring together the elements of a great pitch to turn an idea into a reality for many to enjoy!
We spoke to our judge panel to learn more about what makes a winning pitch. This year together with our expert judges we have put together a recipe for putting together a pitch. What’s more, many of these tips and tricks are also relevant when applying for awards like this year’s Ethical Enterprise Awards.
So what are the ingredients that can bring people together for an award-winning social enterprise pitch?
The Ingredients for the Perfect Pitch
Start by clearly defining the problem to be solved; showcase the team that will come together to solve it. Your team will help you in telling a story – it is vital to craft a great first hook as it intrigues an audience’s attention. After you have a story to share, make sure you have infused it with authenticity. Believing in your cause and yourself is your strongest asset. Honest and earnest is often the most inspiring, as it comes from the heart.
Next, pepper it with a strong sense of ‘what drives your idea? Is it a need? Whose need is it? How do you know this need? Then make sure you make it palatable for others. What is your identity as a social enterprise? How do you make sure you sustainably balance the social and economic logistics without going overboard?
If your pitch is dry, make sure you add in a strong sense for your ability to define the size or extent of the opportunity that you have identified. Describe clearly how you are going to address that opportunity to the judges.
If your pitch doesn’t showcase how it will generate revenue, it will not rise enough in the points categories to be a winner. If your pitch doesn’t tell how you will use winning the pitch competition to progress your idea and improve your chances of success, it will be missing special unique flavours in it. Don’t miss out on adding your special flare to the recipe! Show the judges how your pitch will be a success if you win the pitch competition!
But to do this, ensure you find the right balance between purpose and revenue, when you are making your pitch, be aware of the balance and be vulnerable to ask for feedback. Is it a great idea but has no sustainable income stream? Go back to see how you can find this element with your team. Sometimes we need to try the sauce of an idea and ask an opinion before we add a little bit extra to make a final product. This is where you are going to find golden nuggets of wisdom from others! This is where you will find the key parts of your social enterprise business for future success.
Enjoy your recipe for pitch success!
The 2021 Pitch Competition will be an exciting menu of locally produced pitch ideas and social enterprise models. This showcase of pitches will network the up and coming entrepreneurs to the Melbourne community. It will spice up your knowledge of what is happening in the ethical business space and who is out there making a difference! You might just find the special ingredient for your own future pitch or meet a Co-Creator to bake ideas with!
With previous winners and finalists; an array of like-minded people with a focus on ethical enterprises and business models, you take your recipe to the next level or at least, gather some ingredients to get started as an entrepreneur.
Moral Fairground offers a platform to showcase speakers, social enterprises, ethical businesses and products to the community. When you attend one of their events like the Ethical Enterprise Conference 2021 you will hear people speak and see the difference between an engaging speaker and one that is still getting there! It is a network and community of like-minded conscious consumers with a passion for ethical business and we support each other through these opportunities and initiatives throughout the year.
Moral Fairground runs the Early Ethical Entrepreneur Pitch Competition and Ethical Enterprise Awards every year for purpose-driven enterprises and over the year, we have seen many incredibly inspiring and life-changing ideas.
Pitch competitions and awards for start-ups and can be very rewarding, life-changing, but also a little overwhelming for emerging entrepreneurs. What stops most people is not knowing exactly what to write, what is important in a pitch and what is not. However, if you get the recipe right, the reward can be beyond your expectation, even if you do not win the pitch. Not only will you get serious about your idea and put it down on paper, depending on the pitch you will be sharing it with judges, but it is also a fantastic opportunity to connect with potential co-founders, investors, business partners or your next customer.