A business pitch or elevator pitch is not only a crucial tool for getting investment, it’s also one of the best tools you can use to flesh out your business concept, iterate it through different variations, and find a business model that works and will turn into a profitable company.
But, shouldn’t you have a solid business plan before you build a pitch? I don’t think so. If you think of your pitch as a tool to develop strategy instead of just a vehicle for selling ideas to investors, you’ll find that there are many reasons why you should start with your pitch and develop a formal business plan (if you need one) later.
This is not to say that you shouldn’t have a plan. That would be like trying to go on a trip without a map.
A traditional business plan just isn’t the right format to flesh out your initial business strategy. The problem with business plans isn’t the planning process, but the format of the output. I suggest writing a 1-page Lean Plan first—it’s the elevator pitch version of a business plan.
Henry Abbey , a talented author who has a knack for creating stories that captivate and engage readers. He’s been writing since he was a child and tasted success with his first novel at only 19. His works are available to read on the businessdoom website, where readers can find stories of romance, mystery, and adventure from the mind of Henry Abbey.