How to pitch effectively — insights from a ‘Shark Tank’ insider

      You've dedicated your life to honing skills, gaining insights, fostering relationships, and cultivating a perspective that is as insightful and powerful as your own ambition. You’ve invested all of this into your business. Now, you have five minutes (or even less) to convey an appealing vision for the future and persuade a panel of esteemed — and sometimes harsh — judges that you can actualize this vision and generate profit. How should you approach this?

      A pitch competition is a distinct opportunity: I have been involved in pitching, judging, and hosting competitions from Miami to Mongolia. As an entrepreneur and investor, I have spent a decade casting for shows like “Shark Tank” and others centered on business. Each year, I encounter thousands of entrepreneurs globally, assess their ventures, and assist in preparing them for their pivotal moment.

      I hosted The Pitch Battle at the TNW Conference in June, a contest won by the Dutch startup Tap Electric, which illustrated what makes a founder’s narrative compelling. Whether you’re pitching to the Sharks or captivating an audience at a tech conference, here are some essential components that contribute to a successful pitch:

      Nerves

      Indeed, nerves. Although many invest time and resources to manage and surpass nervousness, I argue that nerves are a crucial factor in any effective pitch. Why? Nerves indicate that you care. Some individuals dread public speaking, while others are overwhelmed by the implications of funding or exposure for their venture, and nobody wishes to deliver a lackluster performance. These are all valid reasons to be invested in your pitch. They are reasons to feel something — before, during, and after.

      Entrepreneurs who allow themselves to embrace the excitement, intensity, and potential of the moment can channel those emotions into a passionate pitch. Successfully feeling the moment without being overwhelmed by it is vital for a compelling pitch.

      Research

      An effective pitch commences long before you step onto the stage. Understand your audience and judges. Discover who will be present, what matters to them, and how they will evaluate your pitch. Practically, this means delving into the judges’ backgrounds and what motivates them. An angel investor may prioritize traction or business model, while a corporate sponsor could seek strategic alignment. Other judges might focus on companies that can maximize the impact of the funding or resources provided.

      Rather than trying to pitch to everyone at once, concentrate on the group that is most relevant to this competition, and reassure them of your grasp on the market, their motivations, and your strategy going forward.

      Business

      Regardless of your business’s stage, tell your story clearly and elucidate how you will utilize the resources you are seeking to meet key performance indicators (KPIs) that resonate with the judges and the competition.

      Begin by vividly illustrating the pain point. Then, describe how your product or service uniquely solves this issue, showcasing any innovative technology or approach. Follow this with real-world examples or user testimonials that create relatability.

      Finally, detail the market opportunity beyond just the Total Addressable Market (TAM). Decision-makers want to see your business's potential for growth and scaling. More importantly, they want to understand how you intend to utilize the provided resources to reach the market and convert customers.

      What do the available resources from the competition imply for customer interactions? What do these interactions mean for conversions? What do those conversions indicate in terms of revenue? And how does that revenue contribute to your path toward profitability?

      Audience

      Forge connections with the audience. Let their enthusiasm inspire you. Invite their participation. Establishing a genuine relationship with your audience can differentiate you. Bring energy and enthusiasm to the stage. Smile, maintain eye contact, and move purposefully. These straightforward actions can transform a formal pitch into an engaging dialogue.

      Encourage audience interaction with your business early and frequently. Pose questions, include a call-and-response, request a show of hands, and share links — all of these elements can foster engagement beyond just the pitch itself.

      Internalize your presentation rather than merely memorizing it, preparing yourself for the unexpected. Pitch as if you’re sharing an exciting story with a friend rather than reading from slides. This authentic connection — eye contact, enthusiasm, and a reciprocal vibe — strengthens your message.

      Ask

      Many entrepreneurs are surprised to learn how often they present without a clearly defined ask. As a business owner, it’s essential to have a clear request for any audience you address. It is your responsibility to understand what resources you need to elevate your business and to articulate that request.

      Don’t leave your main ask as an afterthought — always include a precise and clear request. This ask is central to the pitch, directly informing the judges of what you need and why.

      If the competition specifies prize amounts or resources, acknowledge these in your ask. Communicate to the judges and audience that you have considered how winning this competition will aid in your business’s growth practically.

      As is frequently the case, if additional funding or resources are essential beyond what the competition provides, mention this broader need. Describe how