Pitch Competitions are seminars created for entrepreneurs with new business ideas who are in need of seed money. The entrepreneur and his or her team present, usually quickly, their idea for a new company, as well as their need for investment and future goals. These ‘pitches’ are presented to a panel of CEOs and investors with subsequent assessment of the company’s investment potential- will the idea be profitable?
This is a great way to find investors from your community. Although often extremely nerve racking, pitch competitions are exceedingly popular in colleges and in other community based organizations. Winning any given pitch competition will result in the funding of your company as, depending on the rules of the competition, seed money will either be given to you or invested in your company. Pitch competitions can be stressful; therefore you want to think of every question that could be asked, and cover all the aspects of your business plan.
Standing up in front of a group of people and presenting your idea can be very intimidating. Also, the judges could provide you with some harsh criticism that might be hard to hear at the time but ultimately beneficial feedback for your company.
As women, we need to be more involved in pitch competitions, not only do we start to represent the amazing businesses we have, but we are raising our hands saying, "We deserve funding too!" and speaking in public is an essential skill for any Chic CEO.
Get out there and get involved in as many pitch competitions as you can - it'll only strengthen your brand and make you a better business owner. Ready go!!