Mastering the Pitch
Recently, I had the opportunity to attend my first Pitch Night at LaunchPad Huntington. LaunchPad is a business incubator, co-working space and business accelerator which is designed to help start-ups and early-stage companies succeed. EisnerAmper is an active sponsor of the LaunchPad Huntington location and one of the many benefits of being a sponsor is the ability to attend some really fun events, including Pitch Night.
Last night, five audacious entrepreneurs presented their startup or early-stage companies to some of Long Island’s leading angel investors. In a ‘Shark Tank’ like setting, each presenter had seven minutes to present their pitch to the packed crowd. When the seven minutes were up, the investors followed up with a series of questions and then the audience had a chance to ask some additional questions. The room was packed and the questions were flowing. There were many differences between each of the presentations but one thing that each presenter had in common was passion and commitment. I think it’s fair to say that there are no disadvantages to participating as a Pitch Night presenter. The evening gives the entrepreneurs a chance to practice their pitches in front of a crowd while promoting awareness about the product or service they are offering. If necessary, it also gives presenters the chance to go back to the drawing board after the event and work out any kinks or considerations that were raised by investors or audience members.
Although this event was not specifically designed as a forum for the entrepreneurs to solidify deals with the angel investors like they do on television, it serves an even greater purpose in helping to prepare the entrepreneurs for the future by giving them the opportunity to practice their pitch presentation in front of a crowd, take the feedback received and make any necessary adjustments to their product, service or business plan.