Consider the following scenario: you are on stage, in front of intimidating people who are judging your every move, and you need to persuade them to invest in your business. You are terrified and have no idea what to do or say.
Back up! Many young entrepreneurs pitch their ideas without knowing how to do so. Many people hear the term “pitching” but have no idea what it entails or how to do it.
They find themselves in a situation where they have no idea what to do and are overcome by fear, resulting in tears.
But don’t worry, we’ve got you covered! The top five finalists in the Hanga pitchfest 2022 competition were interviewed by KURA. Don’t dismiss these individuals just yet, because Hanga is one of the largest annual pitching competitions.
They offer $50,000 for first place, $20,000 for second place, $15,000 for third place, and $12,500 for fourth and fifth place.
To give you some context, these five young people applied alongside hundreds of other entrepreneurs. They went through the first round of selection, in which the judges chose 400 startups from various districts.
The 400 selected must pitch their innovations to judges, and only 45 can continue. From the 45, only 25 are chosen, and only five are chosen and awarded. As you might expect, these people know what they’re talking about.
Master your craft
Mulika Farms CEO Hervé Girihirwe believes that one of the things you must master while pitching is your work, your craft.
He is a firm believer in knowing everything there is to know about their company rather than memorizing a script.
“You must master your craft; no one knows your business better than you. When you’re in the room, you’re the expert.”
Show your core passion
Peace Ndoli, the co-founder and COO of Lifesten, believes that passion can take you far.
“You have to be passionate about the solution you’re telling people,” she says, “because people can tell if it’s truly coming from the youth and is in line with your core values or if it’s just for money.”
She advised other young people to do businesses that they are really passionate about and that really speaks about “you as a person”.
Showcase your strengths
According to Ignace Turatsinze of PayingTone, it is critical that when pitching, you communicate those points and polish them so that investors can see your potential.
“If your team is your strength, make sure you communicate that early on,” he advises.
He also emphasized the importance of knowing your numbers and facts as an entrepreneur. He added that it is also critical to consider potential questions from the judges.
Make yourself comfortable with the audience
Jean Marie Vianney, the founder of Schoolnest, believes that getting comfortable with your listeners can make it a lot easier for you.
“When you’re presenting, a lot of eyes are on you, and you might start feeling nervous,” he said, adding that “trying to familiarize yourself with the audience might help.”
Prepare beforehand
Preparation is essential! The most important tip Iradukunda Marie Grace, founder of Huuza Games, has for her is to be prepared.
“You must ensure that you are prepared in every way so that you are sharp on the dot,” she said.
Aside from that, she emphasizes the importance of believing in yourself and going for it.
