Finding Value within the Pitch!

Value creation, a term YE students hear over and over again throughout the course of the year.  We challenge students to develop a business concept that will create value in the lives of consumers; finding a need and fulfilling it.  If you can cultivate value then consumers will continue to seek after your products and services.  Yet far too often students underestimate the value of being able to clearly articulate what their business idea/concept is through verbal communication.

Luckily, YE offers various ways for students to compete and place their business ideas on display.  After all, while there is tremendous value in writing a feasible business plan there is just as much value if not more in being able to communicate it effectively and efficiently to investors and consumers alike.

For this reason YE is holding its first ever ElevatorPitch Contest during the month of April.  Students have been busy finishing up writing their plans, working on presentations, and perhaps have even experienced the excitement of hosting a trade board show.  Now they have the opportunity to create a video elevator pitch for their business.  This is their opportunity to put their business on display for the world to see.  Who knows, perhaps a venture capitalist will see their video and want to invest!  The contest is being hosted on Youth Entrepreneurs Facebook page.

Students who choose to participate will gain something far more valuable than that of the cash prizes that are being awarded.  They will have went through the knowledge processes needed to effectively summarize their business in a way that makes it unique. Others are excited to buy their product or services; a fundamental skill every business owner must have.  A business owner never knows when an opportunity might arise to pitch their business idea/concept so their pitch must always be ready; as handy and accessible as the business card in their back pocket.

Take the popular ABC show Shark Tank for example; here you have the typical business owner pitching their concept to a pool of investors, the “Sharks”.  Some business owners are in the startup phases while others have been in operation for awhile.  Nevertheless, their pitch has to entice the “Sharks” to see the value in investing into their company.  But here is the kicker, while some business owners walk away without an investment from the “Sharks” all is not lost because of the thousand other viewers, i.e. potential investors are receiving the same pitch.  Many past contestants who do not receive an investment on the show will gain investment from outside investors based off of their pitch that was presented. 

Business plans come and go, business cards get lost in the shuffle, but a well develop and executed pitch last in the minds of the listener forever.  So while there is value in the actual pitch itself there is also value in development process as well.  You never know when you might have to pitch your idea so it is best to have it ready to go, and who knows the person standing in the back of the elevator or room might be person who actual walks away persuaded to invest and not the actual person receiving the pitch.

Youth Entrepreneurs Elevator Pitch Contest runs April 16^th – April 30^th via our Facebook page.  Make sure to visit and vote for your favorite elevator pitch!

 - Tiffany Staley, Program Manager