Securing funding is one of the options that projects resort to in order to sustain their operations, or to seek growth and expansion.This requires pitching the project idea to investors in a professional manner, to convince them to fund the idea.
What are the key contents of an Idea Pitching?
There are steps that should be followed in pitching a project idea, serving as a methodology for what should be included in the pitching to convey the idea to the investor in an easy and simple way. The most important contents that must be included in pitching a project idea are as follows:
- The Problem Addressed by the Project
It is important to start by discussing the problem that the project seeks to solve, for example, real problems existing in your current environment or the environment in which you intend to operate the project, while addressing those affected by this problem and if there are any numbers or statistics supporting and illustrating the size of the problem. Starting with a clear problem outline directs the presentation method towards clarifying the existence of a real opportunity through your project idea. You do not just want to implement a new project, but you are doing so based on the existence of an actual problem with clear dimensions and effects on society.
2. The Proposed Solution
After presenting the problem or opportunity existing in your project, you can move on to discussing your proposed vision for the solution you will provide through your project. It is important to offer realistic, applicable solutions, along with having a proposed plan for implementing this solution, and most importantly, having a unique feature that differentiates you from other competitors, making customers willing to adopt it.
It is also important to address how this solution works, and how customers will be able to use it easily, particularly if the solution involves relying on specific software with its own unique usage method. If you have a prototype to include in the project idea pitching, this will be a positive addition to clarify the idea.
3. The Target Market Size
One of the most important aspects of pitching a project idea is focusing on the size of the target market for the idea. The larger the market size, the higher the possibility of success and the conviction of investors in the presence of a real opportunity that has a great chance of success and expansion. This also indicates your good understanding of your project's reality. It is important, during the presentation of the market size, to ensure it aligns with the size of the target group. For example, if you aim to implement your idea in a specific city, not all residents of this city are potential customers, but only a specific segment based on the specifications you defined earlier when referring to the problem.
