Page 171 - Demo

of the pitch is to convince people to obtain an appointment and bring theinterlocutor to invest in the project. In short, it is about convincing, attracting interest in the project, and checkingreactions to the idea and its future. Thus, effective communication is crucial.There are different types of pitches depending on the purpose, situation, andaudience, such as:%u25aa The 30-second pitch or %u201celevator%u201d pitch %u2013 a very short pitch intended tocatch the interest of an investor, potential partner, or customer met bychance in an unforeseen situation;%u25aa 1-minute pitch %u2013 a quick communication of the entrepreneurial idea in amore comfortable environment;%u25aa Longer or investors pitch (10%u201320 minutes) %u2013 a specially preparedstructured presentation of an entrepreneurial idea in front of a specificaudience (investors, potential partners, jury for the evaluation of theentrepreneurial project, etc.);%u25aa Social media pitch (e.g. Twitter pitch) %u2013 an extremely concise and focusedpresentation to attract interest on social networks and subject to the rulesand attitudes of communication within the relevant social network;%u25aa Crowdfunding pitch %u2013 a short presentation of an entrepreneurial idea toraise interest, specifically targeting a particular community on a crowdfundingplatform.The pitch should focus on several main elements of the business model of theentrepreneurial idea. Depending on the purpose, situation, and audience, itshould embrace only the most essential parts of the entrepreneurial idea,namely: %u25aa The problem or the need being solved%u25aa The solution; is it innovative, or how innovative and different is it comparedto existing solutions?%u25aa The expected outcomeUsually, the pitch has several main elements to be covered, such as:%u25aa Explaining the problem;%u25aa Proposing the solution (value proposition) and its advantages;%u25aa Assessing the market and the competition;%u25aa Presenting the team, its talents and specific experience;%u25aa Discussing the financial business model (financial flows) and proposal.1715.1 Instructions for Making a Pitch