The Art of the Pitch: Convincing Executives Your Idea Isn’t Just Another Money Pit
You have a great idea to improve a process, bring in new technology, or even launch a new line of business. You’re fired up, ready to present, and then it hits you – the realization that getting your boss to say yes to your idea can feel like trying to convince a cat to take a bath.
Why is that? Because 99% of the ideas and pitches executives hear sound like elaborate plans to burn money – and not in the fun, ‘lighting cigars with hundred-dollar bills’ kind of way.
Imagine you’re in an elevator with a top executive. You think, ‘This is it, my big chance!’ You start your pitch. Thirty seconds in, the exec’s eyes glaze over, and you realize you’ve been talking about the problem instead of your actual idea. It’s like going on a first date and starting with why you’re single.
I was not too fond of pitches and presentations, but it was necessary for the job. I realized I had to get better at convincing others to try something different to succeed.
Let’s dive into actionable tips that can transform your presentation from just another item on the agenda to a compelling narrative that grabs executives by the lapels and convinces them your idea is worth their investment and attention.
Paint a vivid picture when explaining who the users are and how they benefit. Don’t just say, ‘It’s an app that tracks expenses.’ That’s like saying, ‘I have a dog that breathes.’ Be specific: ‘It’s an app that makes expense tracking so easy, even your technophobic uncle who still uses a flip phone could figure it out.’
Keep it simple and to the point. In a world saturated with information, the ability to distill complex ideas into clear, concise messages is invaluable. Your pitch needs to cut through that noise with precision and clarity.
Pace the presentation so executives can ask questions. Use pauses and silence to give them time to think about your idea. Doing so lets you focus the conversation on what interests them and get a feel for concerns.
Acknowledge competitors and alternatives to your idea and why you do it better. If you don’t, you should wear a sign that says, ‘I live under a rock.’ Remember, every idea has competitors/alternatives, even if it’s just the current, inefficient way of doing things.
Show them why you are the one to get behind—no time for modesty. Confidence and enthusiasm are essential. Speak boldly and show your passion as you talk about the idea. Executives already know how important it is to change and transform the business. They’re looking for assurance that they say yes, you can make it work.
Hitching your star to a known success can work wonders. It’s like saying, ‘See, I’m not crazy! They did it too!’ By aligning your proposal with examples of successful precedents, you validate your concept and mitigate perceived risks. This strategy leverages social proof, which suggests that people are more likely to endorse an idea if they see others have successfully implemented it.
Be specific about the money. Asking vaguely for funds is like asking someone, ‘Give me some food.’ You might end up with a piece of gum when you want a steak. On a more serious note, a well-defined financial request shows that you’ve thoroughly analyzed the necessary investment and its anticipated return, instilling confidence in your decision-makers.
Finally, if you fail the first time, keep pitching!!!! Treat each pitch as a learning opportunity. Collect questions and accept feedback. Use these questions and feedback to be prepared the next time.
Embrace each presentation as an opportunity to learn and grow, regardless of the immediate outcome. Remember, the most remarkable innovations often faced the most skepticism initially. Your persistence and willingness to adapt and improve your pitch based on feedback will be key to your success.
Keep pitching, keep refining, and who knows? Your idea might be the next big thing with executives saying, ‘Why didn’t I think of that?”