We were exposed to challenging sessions of talks, hands-on and most importantly, we did lots and lots of business presentation and pitches to panel of judges, and some fellow angel investors. Briefly, 'business pitching' means you present your business idea or plan to the investors, hoping they will invest certain amount of $ into your company. It is the hope of ministry to born young entrepreneurs among university students in Malaysia.
The main point I have realized after sessions of pitching to all these successful businessperson, is to speak 'their language'. Many times, especially when we who come from technical background, such as engineering, manufacturing or IT sciences, tend to speak in our technical way. Getting used to our normal environment around us, we get used to speak words, phrases and sentences which could only be well understood by our colleagues. We may be too overwhelmed by the uniqueness of our products and inventions, which we could talk non-stop about how good the product is. We tend to show how brilliant our ideas are.
All of these, as a matter of fact are irrelevant and the least important to these investors' eyes. Their interest is very simple. What is your product? How does it look like (hardware, software or system)? How is your company going to make money? And how do you stop competitors from entering your market? - That's it. The technical story behind the system, whether how great is your computer programming behind it, or how sophisticated is the whole manufacturing system - these they won't bother to care.
So next time if you have the chance to pitch your business idea or business plan to investors, kindly make sure you 'speak their language'. Below is the video of which I personally regard as one of the best business pitch ever. Steve Jobs presenting his very first iPhone to the world.
(Source: YouTube)
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