App Building, The Tablet Market And Pitching Ideas To Prospects/investors

Pitching heres how to do it and more importantly how not to do it

. At Wickedly Sisters (Marie Davis and Margaret Hultz), we have pitched plenty of ideas, and most times, quite successfully. Including when we found partners for our newest venture, an award winning, innovative iNovel app, titled Spoon and the Moon (www.spoonandthemoonapp.com).

The first thing about pitches is that no matter how prepared you are your pitch is not always going to work. When that happens, it is better to move onto another prospect than to sink buckets of time and stress into trying to change that no right away. However, after a period, it is a good idea to return to a prospect, enticing them with another project, or revising the original pitch. Waiting a bit between pitches enables you to have time to re-evaluate your goals. Repeat this system as many times as necessary and you will find that most people will eventually say yes.

That said, seldom let a no be the last word. Instead, continue visiting prospects, as this gives you an opportunity to get to know each other better and build some trust. Sometimes, a little tenacity shows the prospect that you are a serious. The longest weve spent on this type of (what Margaret and I call courting a client) is five years. Yes, you heard us right, five years.

Now lets say you have a great app idea and want to talk with investors or rally some sort of other help. What is the most effective approach? Before your first meeting with an investor, think about what they want from a partnership with you. Once youve figured out the keys words they are looking for, START with those words. Margaret and I say that starting a pitch is like starting in the middle of a paragraph.

No! Resist the temptation to fill people in with the basics or tell them about why you are passionate about your project. NO! Start with what they want to hearand deliver it in less than 30 seconds. Then pause, look them in the eye, smile, and wait for questions. If your prospect does not have questions, then its the time to fill them in on the basics and tell them why you are passionate about your project.

Dont forget to practice your 30-second pitch. It must sound natural, and you should have it down cold. Practice your pitch! Practice in the shower, brushing your teeth, (Well, that might be a bit messy!) but keep practicing even while you are driving or cooking dinner. It will serve you well, this will not be the only time you use this pitch. With practice, your pitch will sound natural to your prospective investor and you will be able to make small changes quickly to meet each challenge.

Remember, that all great ideas need a fantastic pitch. So, go for it. Dont be discouraged if you run into a few nos, because you absolutely, positively will hear that word repeatedly. However, use those negatives as a positive way to improve your pitch. What would have made it a yes? Margaret and I have a saying that every no we are told, is one less we will have to hear before success! Good luck!

by: Marie Davis and Margaret Hultz

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