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    CREDIT: Getty Images

    APPLICATION TIPS

    Keep the following tips in mind when preparing and delivering your pitch:

     Introduce yourself and your idea.

    • Start with why; people don't buy what you do, they buy why you do it
    • Focus on the problem, and emphasize how your solution will solve it
    • Perform a demonstration and/or describe how the idea works
    • Develop and focus on a core belief or philosophy, a purpose behind your idea when creating your pitch

    Present the target market for your product, service or idea.

    • Define your target in detail and establish why there is a need for the product, service or idea in your target market.
    • Demonstrate that the target market is measurable and sustainable.
    • Explain how your solution will benefit the target demographic

    Identify competitors and establish uniqueness.

    • Describe your uniqueness or how you will differentiate your idea from competitor
    • Explain how your idea will be sustainable or profitable.

    Communicate your business strategies, management strategies, and funding requirements.

    • Define how you will make a profit and or/accomplish your mission and vision.
    • Provide recommendations on how your product, service or idea should be communicated and promote
    • Explain how much funding is needed to produce your idea. Explain how you derived at that amount.
    • Share what you perceive to be your biggest challenge in the future.
    • Communicate the ultimate goal for your idea and how will you succeed
    • Share why you and/or your management team will succeed with this idea.