The popular reality TV show about entrepreneurs making pitches, Shark Tank, is sometimes erroneously described as a show about pitching. This is false. Shark Tank is a show about people, usually inventors, with interesting back stories who are now looking for help getting their product to its next step. The show offers them the opportunity to pitch their idea to a panel of investors who, if they like the idea, make a financial offer in return to help get the product to market. Every pitch is preceded with what reality TV producers deem to be the more interesting narrative—the entrepreneur’s story. Viewers learn what inspires entrepreneurs, how hard they have worked on their prototypes and pitches, and what they have riding on those few minutes in the room with the “sharks.” Only after the entrepreneur’s story is set up do we get to the punch line, so to speak—the five-minute memorized pitch—which, if the entrepreneurs’ ideas seem viable, is followed by further talk about valuation and mentoring.

Developing your pitch

Let’s look more closely at how to develop pitches. We define a pitch as a formal but brief presentation that is delivered (usually) to potential investors in a startup. As such, a pitch is designed to be clear, concise, and compelling around key areas, typically the key problem or unmet need, the market opportunity, the innovative solution, the management plan, the financial needs, and any risks.

You will often need to craft different types of pitches for different audiences. Key audiences include customers, potential investors, social connectors, potential partners, key employee recruits, and the broader community. One misconception about pitching is that it is always done to investors who are ready to fork over a few hundred thousand dollars to the team that presents the best idea of the day. While this is, more or less, the premise of Shark Tank, it is not how pitching works for most entrepreneurs. Entrepreneurs may pitch to friends and family as they develop an idea, and, at another time, they may pitch to well-connected entrepreneurs and investors who have little interest in the market sector in question but who can make the right introductions or helpful connections. Entrepreneurs might make pitches in what is known as a pitch competition, hoping for a shot at funding and mentoring.

Key Elements of the Pitch

No matter to whom you are pitching, you usually need to include references to your problem-solution statement, value proposition, and key features, and how you prioritize that information will change for different audiences. Once those core sections are covered, your different presentations should be tailored for different ultimate “asks.” The ask in a pitch is the specific amount of money, type of assistance you request, or outcome you are seeking.

A pitch is usually presented through what is called a pitch deck, alternately called a slide deck. This is a slide presentation that you create using a program such as PowerPoint, Prezi, Keynote, or Google Slides that gives a quick overview of your product and what you’re asking for. As such, a pitch is designed to be clear, concise, and compelling, and should include the key areas shown in Figure 9.1.

1. Brand Identity, Image, and Tagline

Your opening slide provides the first impression of your venture and establishes the visual and conceptual tone for the rest of the pitch. A strong brand identity signals clarity, professionalism, and strategic positioning. This initial visual alignment helps the audience quickly grasp your identity before you dive into the narrative.

Key Recommendations:

• Use a clean, high-resolution logo or interface mockup.

• Apply consistent color palettes and typography reflecting your brand’s personality.

• Include a succinct tagline that captures your venture’s essence.

Examples:

• Logo/Image: A teal-and-white icon combining a leaf and a lightning bolt for a renewable-energy startup.

• Taglines:

  • “Groceries at your door in 15 minutes.”

  • “Financial clarity for first-time budgeters.”

  • “Transforming unused spaces into shared work hubs.”

• Opening Slide Example: A full-screen image of a medication reminder app interface with the tagline, “Never miss a dose again.”

2. Problem–Solution Narrative

A powerful pitch begins with a clear articulation of the problem your venture addresses, followed by a focused explanation of your solution. This segment builds emotional and logical momentum that sets the stage for understanding your value. A strong narrative paints a vivid “before and after” of life with and without your solution.

Communicating the Problem:

• Present a relatable scenario or user experience.

• Use a concrete pain point grounded in data or user behavior.

• Highlight inefficiency or unmet needs visually (e.g., screenshots, photos, workflow diagrams).

Effective Hook Techniques and Examples:

• Hand-Raiser Question:
  “How many of you have missed an important bill because the reminder got buried in your email?”

• Emotional Testimonial:
  “My grandmother ended up in the hospital after a medication mix-up. We realized the real issue wasn’t the medicine—it was the lack of simple tools for older adults.”

• Mini-Skit:
  Two presenters act out trying to coordinate a meeting across time zones—demonstrating wasted time and confusion.

• Deep Question:
  “What would it mean if managing your personal finances felt as effortless as sending a text?”

• Surprising Statistic:
  “The average commuter wastes 97 hours a year stuck in traffic—almost two full workweeks.”

Problem–Solution Example:

• Problem: Small local restaurants struggle to track customer loyalty using paper punch cards or inconsistent manual systems.

• Solution: DineBack, a simple QR-code–based digital loyalty system requiring no special hardware.

Watch this video on great ideas for a hook.

3. Key Features and Your Value Proposition

This part of your pitch explains how your solution works and why it matters, highlighting the specific attributes that distinguish your offering. A well-defined value proposition situates your venture in terms of outcomes, not just functionalities.

Best Practices:

• Focus on 3–5 core features aligned with the main problem.

• Use prototypes, mockups, or screenshots to illustrate your capabilities.

• Translate features into user benefits to clearly express the value proposition.

Examples:

• Key Features (Budgeting App):

  • Automatic categorization of expenses

  • Real-time alerts when users approach spending limits

  • Shared household budgets

  • Visual savings goals

• Key Features (Nonprofit Food-Rescue Service):

  • Volunteer pickup scheduling

  • GPS-based matching of donors and shelters

  • Safe storage checklists and guidance

• Value Proposition Examples:

  • “Cuts weekly grocery spending by 20% with personalized recommendations.”

  • “Eliminates 90% of manual data entry for small business owners.”

  • “Enables nonprofits to recover 1,000+ pounds of food monthly without added staffing.”

4. Product–Market Fit Description

Product–market fit illustrates the alignment between your solution and the specific audience that needs it. This section demonstrates that the problem is not only real but worth solving commercially or socially. This explanation reassures investors that your venture aligns with a viable, motivated market.

What to Include:

• Clear definition of your target market segment

• Evidence that the audience values your solution

• Early traction data if available
• Market size estimates (TAM, SAM, SOM)
  • Total Addressable Market (TAM): This is the total market demand and revenue opportunity for a product or service if you were to capture 100% of the market share, without any competitive limitations or geographical boundaries. It represents the maximum theoretical size of the market.
  • Serviceable Addressable Market (SAM): This is a subset of the TAM that your business can realistically target and serve given its current business model, product capabilities, and geographical reach. It is the portion of the market where your product-market fit is strong.
  • Serviceable Obtainable Market (SOM): This is the portion of the SAM that a company can realistically capture in the near term, considering current resources, sales channels, and competition. It is your specific, achievable target market and helps set practical, short-term revenue goals. 

Examples:

• Market Niche:
  “Our primary users are college students managing personal finances for the first time.”

• Why They Care:
  “Students seek tools that reduce financial confusion without requiring prior budgeting knowledge.”

• Market Size:

  • Budgeting apps: $1.3B industry growing 18% annually

  • Independent fitness trainers: 1.1M in the U.S., with 35% operating independently

• Early Traction Examples:

  • 2,000+ waitlist sign-ups in three weeks

  • Pilot test with three restaurants increased repeat visits by 27%

  • Retirement community committed to testing medication reminder devices

5. Competitive Analysis

A thorough understanding of the competitive landscape underscores your credibility and strategic awareness. Investors want evidence that you’ve researched existing solutions and identified your differentiators. A thoughtful analysis reduces concerns about market saturation or copycat risks.

What to Show:

• Direct and indirect competitors

• Visual comparison (2×2 matrix, feature chart, etc.)

• Key differentiators

• Barriers to entry

Examples:

• Competitors (Scheduling App):

  • Direct: Calendly, When2Meet

  • Indirect: Email threads, group chats

• Competitors (Community Composting Service):

  • Direct: Local compost subscription services

  • Indirect: Municipal yard waste programs

• Differentiators:

  • “Our scheduling tool automatically adjusts for daylight savings and multiple time zones.”

  • “Our compost program uses solar-powered drop-off bins for 24/7 access.”

  • “Our budgeting app includes voice-activated guidance for users with visual impairments.”

• Barriers to Entry:

  • Proprietary algorithms

  • Exclusive school district partnerships

  • Community volunteer infrastructure

  • Patent-pending device design

6. Financial Projections

Financial projections communicate the economic potential of your venture and demonstrate your understanding of its underlying business model. These projections should be realistic, justified, and structured around key assumptions.

Recommendations:

• Connect projections to your Business Model Canvas.

• Identify your revenue streams and major cost drivers.

• Present TAM, SAM, SOM estimates.

• Provide 3–5 years of forecasted revenue and key milestones.

• Explain how investor funds will be used.

Examples:

• Revenue Models:

  • Subscription: $4.99/month

  • Licensing: $3 per student per year

  • Transaction fees: 2% per restaurant loyalty transaction

  • Service subscription: nonprofits pay a monthly fee

• Market Size (Youth Mental Health App):

  • TAM: $5B global digital wellness market

  • SAM: $800M U.S. youth-focused segment

  • SOM: 0.25% Year 1 = $2M potential revenue

• Sample Projections:

  • Year 1: 8,000 users, $120k revenue

  • Year 2: 25,000 users, $480k revenue

  • Year 3: 60,000 users, $1.2M revenue

• Use of Funds:

  • 40% product development

  • 30% marketing

  • 20% staffing

  • 10% operations

Pitch decks serve not only as tools for securing funding or support but as strategic narratives that help refine your understanding of your idea’s value. Each element—brand identity, narrative, features, market fit, competition, and financial outlook—works together to articulate why your venture matters and why others should invest in its success.

Elevator Pitches

An elevator pitch is an abbreviated pitch, a memorized talk that can get you in the door to put your full pitch deck on display. The elevator pitch should touch on the key elements of problem-solution, value proposition, product-market fit, and team, and not much else.

Giving an elevator pitch is an art. The elevator pitch can be memorized and should be. It might be delivered informally at networking events or at dinner parties or other social engagements. You never know when you might need to give an elevator speech. You might find yourself talking to someone who’d be interested in your venture, and it might be at a golf outing, on the ski slopes, on the street, in a store, or in a giant investment firm’s lobby. And of course, in elevators. That’s why it should be memorized and up to date.