Your idea isn’t what wins the pitch
If you work in a client-servicing industry, chances are you have been or would soon be involved in a potential new client pitch. Pitches can be unpredictable - sometimes you win and sometimes you lose. I myself have had my fair share of pitching, and over the years I’ve come to realize why we lost some pitches despite our brilliant ideas.
Often when you pitch, it’s not the idea itself that leads to a rejection or a win – it’s how you present it.
I recently listened to an episode of the podcast ‘WorkLife with Adam Grant’ entitled, ‘How to pitch your best ideas’ that really captured this concept. He shared the 3 common myths that limit the effectiveness of winning a pitch.
Myth #1: “Kick off with your big revolutionary idea and how it will make the world a better place!”
A better approach: Before you propose a solution, first convince your stakeholders that there is something wrong with the present.
You need to be able to prove that there is a pressing need or gap in the market that existing offerings are not addressing. Only then can your stakeholders get excited about “what could be”.
Myth #2: “A great pitch is filled with passion!”
A better approach: Prepare your facts.
Research has found that it doesn’t matter how much excitement a pitcher expresses; most winning pitches are from those who come across as more thoughtful, logical and fact-based. Of course it helps to show some passion, but what stakeholders are looking for is preparedness. What clients really want to know is that you’ve done your homework.
Myth #3: “Project confidence!”
A better approach: Show receptivity, rather than ego.
Confidence is important but can also come off as arrogance. Instead, show that you have the right team who is going to fill the gap most effectively. Show that you’re collaborative - that you’re open to learning as opposed to behaving like you’ve got it all figured out. To show receptivity, learn to ask questions and truly listen.
Your ideas and experience are certainly important - it’s why you were invited to pitch in the first place, but it’s only the entry fee. The difference between pitch winners and losers is having the empathy and deeper understanding of your stakeholder’s business, and putting together the right team who’s willing to learn and face the challenges together with them. ●