The pitch is one skill an entrepreneur must learn. It is a statement of what your company does to solve a problem. These can be drawn out into long presentations or very quick 60 second snippets. The purpose is simple: Educate your audience on your product or service, usually with the goal of reaching investors.
Three months ago, I received an email about a pitch competition at my university. 90 seconds. Any business idea-which was nice, except I didn’t have one. As I drove to school two days later, the idea came. I quickly scrambled for my phone and dictated my rough pitch into Evernote. With my idea secured in the cloud, I worked out some more detail and wrote it down.
“When leaving the military, I didn’t really know where I would go to school…”
“…how about a new website…”
The university pitch competition had five judges, from banking, startup, or investment backgrounds. There were over twenty students in the room. I was nervous.
I stood and walked to the whiteboard. I wrote “CollegeVeteran.com” in black marker. It had been registered for 22 hours.
“Ready,” I said.
“I’m a student here but I’m also a Marine Corps veteran of eight years.”
I looked at the judges. They were surprised at my youthful look against the statement I had just made.
“When I was looking to get out of the military, I really had no idea of how to choose a college or even start the process. In fact, the only reason I chose University of Tampa was because of the class sizes and the location. That was it.”
I had stated a clear problem. People nodded. They weren’t veterans, but they could relate. I had them.
“So my proposal is for CollegeVeteran.com to be that resource…”
The solution. The judges tried to be stoic. I could see through the stern gaze. I explained how CollegeVeteran.com would fill a clear need for our veterans. They liked my idea.
A wild ride had begun.