Pitching provides numerous opportunities for your new or existing business ideas to be discovered and realized; and as Simon Mtabazi writes,  some startups have become billion-dollar companies due to efffective pitches. Imagine if a group of people, or even just one person, could help your business idea become a reality—with just a little convincing in the form of either a persuasive presentation of your idea detailing  why they should invest, or a quick one-on-one conversation explaining to them what is in for them if they decide to take on your idea. This small amount of persuasion is formally known as business pitching. Due to effective pitching, 29 startups have become billion-dollar companies since 2020. AirBnB is valued at $40.6 billion, BuzzFeed is valued at $1.7 billion, and Canva is valued at $40 billion (CB Insights,2022). On the other hand, according to Embroker, a financial platform, one of the most common reasons why startups fail (29% of the time) is a lack of funding and personal funds. Other notable failures include a weak founding team (23%) and being outperformed by competition (19%); competition typically has better products, marketing, employees, and investors. Some of these factors emphasize the importance of Startups pitching their ideas on a regular basis. More reasons why startups should pitch their ideas are;

  1. Pitching increases your self-confidence as a young entrepreneur. As the old saying goes, practice makes perfect, and certain aspects of business necessitate time and experience. Refusing to try something limits your chances of learning how it’s done and improving. A good pitch’s heart is to tell a good story that some investors will buy and others will not. Regardless of the outcome, you will gain confidence in approaching new investors, facing rejection, and presenting your ideas.
  2. Pitching is also excellent for expanding your network. Networking is the deliberate act or process of interacting with other people who share common interests in order to exchange information and make professional or social contacts. As a result, pitch competitions are not only good for pitching your ideas but also for networking with other people who can help your business. In today’s world, expanding your network is essential because it allows you to identify people whose goals align with yours and think more broadly about your ideas when you share them with others. As a result, another reason for startups to pitch their ideas.
  3. Gain exposure: pitching continually allows startups to get their names out there in a relatively short period of time. When you present an idea as if your life depends on it, you automatically gain the attention and respect of investors. While some investors may not immediately invest in your idea, they will remember your name and be interested in working with you. A startup that breaks out of its shell differs from one that keeps its ideas to itself. As a result, pitch more to increase your chances of being discovered and, most likely, invested in!
  4. Finally, pitching is indispensable for refining your idea. Refining means improving something by polishing the good parts and removing what doesn’t work. When you share your idea with a group of experienced people, they can help you map out what will give you the best return on investment and what will lead to bankruptcy in 3 years, as is typical for most startups. So start pitching to get some constructive criticism that will most likely turn your not-so-great idea into a light bulb idea.

In conclusion, pitching provides numerous opportunities for your new or existing business ideas to be discovered and realized. Do you have a startup? Sign up for any pitching competitions or use professional platforms such as LinkedIn to rally support for your company. We’re rooting for you too, go get them!



About the Author


Author ProfileSimon Mtabazi
The author is a strategy-led human-centred designer with over eight years of experience designing and managing activities and teams in social impact and technology projects. He has led cross-functional teams to design and implement projects for social good on topics such as social innovation, friendly financing and inclusion for children, youths, and women.

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