Have you updated your pitch recently? You should!
When you make your pitch you look at things as they are now. How many customers, revenue, core product, projections based on current numbers and so on. So when did you actually make your pitch?
If everything has gone well for you and your business, something has changed. You’ve got more employees, better profit/you’re now making a profit, you’re on the shelves at some big store or whatever. The fact is things change, and your pitch should be up to date on the biggest changes.
So why should you update your pitch? Because the goal of the pitch is the same – you want something. And if you’re not up to date, with the information in your pitch, you’ll have a hard time getting what you want.
Imagine catching a possible business partner and getting the opportunity to pitch. “We had, we thought, we projected” that’s not gonna cut it. If you don’t have the newest numbers, you don’t signal to the audience that you know your business.
As a little help we’ve got two main points you need to look at when you revisit your pitch after a while:
Depending on what kind of pitch, on the goal and on the audience, you’ve probably put something in your pitch about some numbers. Whether it’s revenue, products sold, or whatever it might be, they can surely be updated. Make sure you’ve got the latest numbers in your pitch to give the right information – especially with investors and the likes.
Maybe you’ve got some goals in your pitch. A classic is achieving something by the end of year 2, but it can be anything really. Are the goals the same or did you adjust them at some point?
I could go on listing possible things from your pitch that need to be updated, but I’m gonna stop here. I hope you get the point, that every bit of information in your pitch should be the newest available.
Besides updating the things in the pitch, there’s a chance that something happened to your business. Maybe you launched in a new country? Maybe you’ve opened up another shop? Maybe you’ve shifted the focus of your business?
If something big happened, you might want to consider adding it to the pitch. Any number of things can happen that affect your business or the way it’s run, and that may be a relevant addition.
There is more than one stage in the life of a business – especially the first period of time. Things can happen fast, so make sure you revisit your pitches regularly and keep them updated. That way you can present the best and most accurate version of your business whenever you need to.
So, do yourself a favor and do a quick tune-up of your pitch and ensure that it’s all up to date with your latest endeavors.