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Pitching: A Business Strategy Every Aspiring Entrepreneur must Master

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Pitching may be used under many different circumstances and occasions. We use pitching for our work when we must convince a colleague or business partner about a new idea or a certain way of doing things.

Often we are not even aware that we are pitching under these everyday circumstances but that changes substantially on special occasions. We use Pitches when we; present an idea, concept, or product to a potential client or business partner.

Pitching in business refers to presenting business ideas to another party. For example, you may pitch your startup business to potential investors or your products to potential customers. A business pitch needs to give your audience a clear understanding of your plan or goals to gain buy-in.

We all agree that in recent times, people have less and fewer attention spans. They have less time and patience to sit through long speeches where you list all your product features and offer a great deal to close.

 In other words, Pitching enables you to present your idea concisely and convincingly, so that your idea, message, or product – no matter what it gets people’s attention.

Types of Pitch

  •         One-Word Pitch
  •         Social Media Pitch
  •         Elevator Pitch
  •         Cold Call Pitch
  •         Email Pitch
  •         Follow-up Pitch

One-Word Pitch

Put simply, A One-Word Pitch is a single, powerful word that best describes your brand. Finding a word that best describes your brand might be a little difficult. But you can select one from your brand’s

  •         Aims
  •         Values
  •         And or Products

For example, Google’s One-word pitch is ‘Search’.

When you find a word, you can use synonyms to make it unique.

This one-word pitch should be used by everyone in your organization—wherever possible. Once people associate the word with your brand, your potential customers will recognize you instantly.

Social media Pitch

This is crafting your social media post around the basics of your brand. It is important because you have to make customers want more.

Elevator Pitch

An elevator pitch is a short, snappy, easy-to-grasp explanation of your company and its products…

In no more than 30 seconds your pitch should describe the basics of your business  (it should be short enough to cover in an elevator ride, hence its name)

Elevator pitches must be engaging and friendly,

To be great at using this pitch, you need to practice, so it’s clear, concise, and well-paced.

Cold call Pitch

A cold call is when you reach out to a person you’ve never spoken with before, intending to sell them your product or service.

Even though the person may not be aware of your brand, a cold call is made to some who is likely to have an interest in or benefit from your brand’s product.

A cold call sales pitch is unique because it provides an opportunity for a personal connection.

Email Pitch

An email pitch is a sales pitch that is delivered to potential clients and or customers via email. Most times, it is used to create brand awareness; they are brief and serve as a starter for conversations.

Follow-up Pitch

Pitching without follow-up is no pitching at all.  This aspect can either make or break your deal. The quicker you do a follow-up the more likely you are to close the deal.  Do not give up after the first attempt, or you would be missing out on opportunities to make that sale.

So when creating that follow-up pitch try to keep it brief.

A perfectly made pitch cannot be underestimated; you need to make sure that you clearly understand the differences between the different startup pitches and work towards perfecting each one of them.

 The next time you are about to sell that business idea or contact a prospective customer, use the pitches outlined above.

Tell your brand’s story and the success of your products and services and back up with facts and statistics. Work hard to engage your audience. Practice with friends and colleagues until you master the right pitch for you.

What do you think? Can you write an effective business pitch in 10 minutes?

Let us know your thoughts.

Emotional Intelligence: How You Can Improve

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We all know that Academic Aptitude is a measure of Intellectual Intelligence. But Emotional Intelligence is used to measure one’s social skills.   

Hence, Emotional Intelligence or quotient (EQ) is the ability to understand, use and manage one’s emotions. It could also be referred to as being people smart… It is a part of the human mind that can be developed and improved upon by learning and practicing new skills. Some people naturally have good EQ skills, but others may need to work on them.

 Developing Emotional Intelligence can:

  1. help to build and maintain strong friendships
  2. make informed decisions
  3. deal with difficult situations
  4. help turn intentions into actions

Understanding and getting along with people is a useful skill that applies in almost any area of life.

Improving Your EQ

According to Daniel Goleman to improve one’s Emotional Quotient, there are five personal skills one must develop which are;

  1. Self-awareness
  2. Self-regulation
  3. Social Skill
  4. Empathy
  5. Motivation

Skill one: Self-awareness  

Put simply, self-awareness is understanding your emotions and how they affect your actions and interpersonal relationships with others.

To master this skill, you must be able to monitor your emotions, recognize your emotional reactions to certain situations. Understand the relationship between how you feel and behave, know your strengths, limitations, have a good sense of humor, and be confident in yourself.

Skill two: Self-Regulation

This is being able to express your emotions appropriately. To be proficient at regulating one’s emotions you need to be flexible and adaptable. Self-Regulation also involves being able to manage conflict and diffuse tense and difficult situations.

Skill Three: Social skills

Developing social skills is important for connecting with others, to handle and affect other people’s emotions effectively.

Strong social skills allow for meaningful relationships with others. These social skills include active listening, verbal communication, non-verbal communication, and persuasiveness.

Skill Four: Empathy

Emotional Empathy is literally feeling what the other person is feeling. To build on this skill, you respect the feelings of others even when you don’t agree with them, do not belittle or make judgmental comments instead use questions to know how they feel.

Skill Five: Motivation

Motivation is having the drive to achieve a goal; it includes taking initiative, being committed, and being persistent. To stay motivated, set clear achievable goals, do not compare yourself to others, be determined not to give up, and be positive.

Only those who understand and regulate their emotions are able to work effectively with others. So, understand your own emotions, manage them appropriately, use them to achieve your goals; by doing this you will understand the emotions of others and influence them positively.

Emotional intelligence helps you work in a team. Read how to build a winning team.

Building a Winning Team

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Effective leadership cannot be overemphasized when it comes to success especially within a team. Of the many roles of a leader, building a winning team is one of the most important. We all agree that a leader cannot succeed without the cooperation of teammates. But then, why is team building important?

Team building…

  1. makes for more open communication,
  2. increases productivity,
  3. encourages collaboration and builds trust and respect among teammates.

Team building also helps a workforce get on the same page, work together, and increase their motivation to complete tasks promptly.

Seven C’S to building a winning team

Coaching: seeks to create an environment that has everything a team needs for great teamwork: trust, honesty, and healthy discussions to navigate through existing conflict, mutual commitment to decisions and plans, accountability, and a collective focus on results.

Character: a leader aims to encourage good morals among teammates, as this will yield admirable traits such as honesty, responsibility, and courage.

Communication: effective communication within a team will build a common purpose among team members that will allow them to reach their goals. Strong group communication will create understanding, and that understanding will forge strong relationships within a team.

Commitment: A shared vision uplifts a team’s aspirations. It gives a higher purpose to work. It creates a sense of immersion, excitement, and passion. Commitment also matters because it fosters reliability. Reliability is one of the four behaviors that build trust within a team.

Contagious Energy: a team leader needs to beam with Positive energy (positive vibes). This is because whatever a leader thinks and feels projects on the team and has an impact on them. That’s why positivity is not just about you. It’s about everyone around you!!!

Caring: when team members feel cared for and especially by their team leader they tend to reciprocate, become more invested, and also care more.

Consistency: The value of consistency is that people know what to expect and so can act accordingly. Within a team, consistency equals reliability.

Remember,

The strength of the team is each member. The strength of each member is the team.” Phil Jackson

To learn more about being a successful leader and other personal development skills, we encourage you to join this year’s Youth Lead Virtual Fellowship 2021.

Sign up and Register at bit.ly/YLEAD21

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