At the end of this module you will be able to:

• Define the term “idea pitch” and outline the benefits of pitching an idea
• Discuss the different types of pitches
• Develop a good pitch
• Effectively pitch a business idea
• Present idea pitch to your boss 
• Deal with pitch failure

Presenting your ideas is the perfect way to demonstrate to your boss some of your skills and abilities, such as communication, creativity, flexibility, and problem solving. 

In addition, persuasion, negotiation, time management, and general verbal presentation skills are paramount. 

The benefits of pitching an idea are numerous. If you present your idea successfully, 
    - the relationship with your boss can be further developed
    - positive changes and improvements can be achieved within the company
    - you can generate more revenue for your company
    - you can gain the attention of your boss and convince him or her to pursue and implement your idea, and
    - it can boost your self-confidence. 

The elevator pitch

• An elevator pitch is a colloquial term that refers to a short speech that outlines the idea for a product, service or project. The name "elevator pitch" derives from the idea that the speech should be short - no longer than the time of an elevator ride - or about 30 to 60 seconds long (Source no.: 1).

• Elevator pitch focuses on how you are going to help your employer and is designed to get you noticed (Source no.: 2).

• The reason elevator pitches are so important is because our attention spans are getting shorter and shorter, so you need to capture someone's attention in a very short time.

The short-form pitch

• If your elevator pitch was successful, you may be invited to tell more about your idea, so you will need a longer version of your elevator pitch.

• Short-form pitches can last anywhere from 3 to 10 minutes. If you are giving a presentation in a competitive environment, be aware of length requirements (Source no.: 3).

• According to Wise and Feld (2017), this short version goes deeper into your proposal and should include sections on the problem, solution, target market, competition, team, financial summary, and milestones you plan to achieve.

The long-form pitch

• The short-form pitches can pique the interest of the boss and give you the opportunity to present a long-form pitch.

• When this opportunity presents itself, it is important that you make the most of your time.

• The long-form pitch typically lasts 30 minutes (Source no.: 7) and includes a presentation that covers all aspects in detail.

• A long-form pitch should convey the business concept clearly and concisely, open up the opportunity for follow-up questions, and capture the interest of the boss.

1. Think through your idea

• Ask yourself what problem the idea solves and whether the problem is significant enough to justify the cost of your solution.

• How your idea will resolve the problem?

• Are you the right person to solve the issue?

2. Consider the scope of the idea

• How big your idea is, as the size of the idea impacts the amount of preparation you need to do, the number of pitches you need to make, the decision-makers you need to reach and the amount of time you can expect it to take to reach your goal.

3. Identify the decision-maker

• Identify which person has the ability to approve your idea 

4. Consider the other person's perspective

• To consider the perspective of the person to whom you're making your pitch.

5. Plan your pitch

• Three variations:
     - Five-second version -  single sentence that concisely conveys your idea
     - 30-second version and 
     - Five-minute version

You could have the most beautifully put-together pitch out there but, if you don’t practice it, your pitch will likely fall flat. 

• Getting the delivery of your pitch right comes from knowing the content

• Expect to make changes to your script and slides during the practice period; it will reveal any inconsistencies and flag where things don’t flow. 

• Don’t just go through it by yourself. Get in front of others to simulate the pitch environment – and the nerves that may come with it. 

Following pitch strategies can help you to clarify your message and help your boss to give your ideas the green light.

1. Answer Two Questions: 
How much does it cost? 
How much does it make? 

2. Start with a KISS
stands for Keep It Simple, Stupid

3. Ask, Don't Tell 
Asking for advice and guidance helps get your boss involved and enrolled in your ideas. 

4. Context Conquers Content
Without it, your story doesn't make sense

5. The Presentation That Matters Most
The sophisticated presenter knows that a powerful pitch is really a dialogue 

6. Invitation Over Instruction
Invite your boss to a shared discussion to identify the best path forward

7. Speak in Leadership Language
By speaking the language of your boss, your initiative takes place in a way that is simple, accessible and clear.

Structure 

Why does pitch fail?

How to deal with the pitch failure?

Well done! Now you know more about:

• Idea pitch
• The elevator pitch, short-form pitch and long-form pitch
• Preparation of the pitch
• Strategies for successful pitch
• Making pitch presentation 
• Dealing with the pitch failure