This April, entrepreneurs in Southern Maryland are invited to participate in the Crab Pot pitch contest, allowing them to share their ideas to a panel of judges and investors. In addition to having the chance to perfect their pitches and gain exposure for their companies, entrepreneurs have the opportunity to win cash prizes and a bushel of crabs.
This year, Crab Pot welcomes a new format. The Speed Round, which gives all qualified contestants 90 seconds to present their pitch, will take place at Elements Eatery & Mixology on Thursday, April 13 at 6 p.m. The final five finalists, based on an audience vote following the Speed Round, will return on May 11 to compete in the Crab Pot Finals at the Patuxent River Naval Air Museum, where they will have five minutes to pitch to judges and the audience.
So, are you ready to pitch your business idea? With these tips on how to perfect your pitch from Kim Mozingo, TechFire program manager and serial entrepreneur, you’re shore to succeed!
- Get Registered. This is a key first step. Interested entrepreneurs can sign up to pitch on April 13 here. The deadline to register is April 6, 2017.
- Know Your Why. Be prepared to talk about why your idea or business matters (not just to you) to your intended audience (customers or clients) and how that idea or business will provide a solution or fulfill a need/void. Be sure to have an “ask”—do you want investors, partners, customers?
- Tell A Story. The best presentations tell a memorable story and stand out from the hundreds to thousands of pitches people hear. Give your story a beginning, middle, and logical end, and make it interesting!
- Practice, Practice, Practice! The more you practice, the more comfortable you will be with your pitch. Practice in front of friends, family, strangers, the mirror, a video camera…and ask for feedback.
- Time Your Pitch. Whether competing in the Crab Pot, or in another pitch contest, it’s important to be conscious of time constraints; the Speed Round has a 90 second limit, while the finals have a five minute limit. Pitches should not be so longwinded that your audience loses the point of your story (look at #3). Time your pitch when you practice, and try to time it when presenting to make sure you’re not running long.
Crab Pot is hosted by PaxSpace, Inc. in conjunction with the Southern Maryland Innovation and Technology (SMIT) meetup. PaxSpace provides training and resources for community members to collaborate and create innovative projects. SMIT is a regional initiative designed to ignite and fuel technology entrepreneurship by fostering an inclusive and collaborative ecosystem in Southern Maryland.
The Charles County Economic Development Department is here to assist entrepreneurs and small businesses as they start and grow. To learn more about how we can help, visit our Entrepreneurship page or contact us at firstname.lastname@example.org.