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How to pitch your business Idea successfully

If you have a great business idea and are looking for investors or partners, your pitch could result in either growth or early market exit.  The formula is simple: If you have a great pitch, your chances of scoring investor funding increase significantly—and the opposite being true, of course.
So where do you start? During the “How to Pitch Your Business Idea Successfully” workshop, Dr. Sherif Al Abdulwahab, Dean of Al-Imam Muhammad Ibn Saud University and guest Bedaya coach, stressed that pitchers need to first gain a deep understanding of their own weaknesses and of the market they are diving into.
For example, there cannot be a successful pitch if the pitcher does not understand customer needs and what competition is already bringing to the table. Also, once the pitcher properly identifies his/ her weaknesses, they can then look for the right kind of guidance— whether it be a need to brush up on presentation skills or getting help with market research or overall business plan before pitching the idea, and so on.
Another important point that Mr. Al Abdulwahab mentioned was that every entrepreneur needs to have a story. Technical details and market research are critical pieces of information, but just as important is your ability to make the investor relate to your idea by giving them a back-story. Make sure to address the following questions:
How did I come up with this concept and why do I think it is important?
What solutions am I offering to society with my idea?
Why does the market need my idea?
Finally, if you only have 10 minutes to make a great pitch, we leave you with this simple break-down by Mr. Abdulwahab:

  1. Introduction [2 Min]
  2. Main Idea [2 Min]
  3. Why is your business idea important? [ 1 Min]
  4. Give a cost & revenue forecast [ 2 Min]
  5. What will be of your idea in 3-5 years? [ 2 Min]
  6. Why should the investors invest in your idea? And how much? [ 1 Min]

Good luck with your pitch!
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