When Bitcoin first came out, there was a lot of excitement about the possibility of an alternative currency. A cheaper and faster medium of exchange is something everyone was looking forward to. But as the excitement wore off, something even more interesting came to the forefront.
You see, Bitcoin runs on the blockchain technology, which has an immense potential for applications in a wide variety of industries. Maersk, one of the leading logistics companies in the world, has already started testing blockchain for tracking its cargo.
Even banks and other financial firms are using blockchain to make their operations run more smoothly. All these developments plainly show that blockchain technology is a goldmine. It is for this reason that companies and individuals alike are trying to create their own blockchain ventures. Here you can track all the latest blockchain and crypto news.
However, for any venture to succeed, it needs to have some support. The more support an enterprise of any kind has in its infancy, the higher the chances it has of growing and succeeding.
Pitching a blockchain venture can be a tricky endeavor, which is why we have some tips that will help you get the attention you deserve. One of the best places to pitch is at a blockchain conference. This is for the simple reason that the attendees are like-minded, and also interested in blockchain – i.e. the best people to approach to support your venture.
Let’s dig in.
1. Know your target and make sure your research is on point
Initially, there was only one blockchain: the one that Bitcoin runs on. But with time, there have been improvements made upon it that have made other blockchains, such as Ethereum’s, more prominent.
As you start creating your pitch, it is essential for you to find out who you are targeting and, more importantly, what they are most interested in.
It would, for instance, be ineffective to pitch your smart contract idea at a summit that is predominantly focused on money transfer and buying and selling using blockchain.
Knowing your target will also help you to research them and find out what their soft spots and pet peeves are. This makes it easier for you to make a strong impression and set yourself apart from your competitors.
You should also research your competitors; if you are going to get the investor’s attention and funds, you need to be the best. You, therefore, need to make sure you are bringing more to the table than anyone else.
2. Narrow down your niche area
Have you heard the expression, “jack of all trades, master of none”? Well, if you want your venture to succeed, it is crucial for you to choose a narrow niche area. Not only does this allow you to become the expert in that area and present yourself as such, but it is also much easier to manage and grow your business.
If your idea is all over the place, it may be tough to find people who are interested in the entirety of it.
Let me give an example to better illustrate this. We have already seen that Maersk has begun testing blockchain for their logistics business. It would therefore not make any sense for you to pitch to them with an idea that only touches on logistics briefly, going on to talk about how banks can maximize their profits using blockchain.
As much as your idea may make sense holistically, your target will only be interested in a small portion of it that is relevant to them, and the rest will make them doze off. They may also feel like you are spreading yourself too thin and are not dedicated to giving their business the attention it deserves.
3. Confidence is the most attractive outfit you can wear
Let’s face it. There is nothing that screams expert than someone who is put together and knows what they are doing. It is therefore vital for you to know your material thoroughly and take pride in your work. Let your expertise show.
I know that speaking to a crowd of people who you feel hold the future of your venture in their hands can be quite intimidating. Furthermore, those who are best prepared (and thus should feel the least like imposters) often experience the highest levels of imposter syndrome.
There is no easy way to say this, but you simply have to compose yourself and let no one know just how nervous you are.
But how do you do that?
The best way is by knowing your presentation and its subject matter inside out. If you part of a group, you might consider having each member present in the area they are strongest.
Preparation is also key; you can scour through Youtube, Reddit, Quora, and other sites where people post questions to get a feel of what to expect. Find out how to give an excellent presentation, practice in front of the mirror, and even run through it in front of a small crowd.
Remember, no matter how intimidating your audience is, at the end of the day, they are just people.
4. Make the pain point you are addressing the focus of your speech.
As a blockchain enthusiast, you may find yourself becoming so engrossed in the details and jargon that you forget your audience may consist of prospects who aren’t so familiar with those terms and details. Most of all, these people want to know what your venture is offering them and how it will change their lives.
In my years of writing about blockchain, I have discovered how hard it is to dumb it down. It may not be possible to explain everything in layman’s terms, and so you sometimes have to get creative.
This is where you explain things using everyday situations. Nobody likes to be sold to, but people will buy anything if they believe it will make their life easier.
When Bitcoin came into being, its most significant selling points were the immutability of the information on the blockchain, and that it was cheaper and could provide privacy. These are all characteristics that fiat money doesn’t offer, and that sounds very attractive. It wouldn’t have worked if all we knew about Bitcoin was that it was another currency – very few people would have tried it.
So let your presentation say to your audience: I know what problems you are having, and this is how I can resolve them. Do this, and trust me, you will be noticed.
5. Don’t give up upon your first failure
This is a tough one. Failure has never been easy to deal with. You will always ask yourself why you didn’t do well. But, as every motivational speaker and a self-help book on the planet will tell you, failure only shows you how to improve yourself.
You may receive direct feedback, or you may have to reach out for it. The important thing is to sit down, restrategize, and come up with a better concept. Nothing good comes easily, and patience is a virtue that will take you a very long way.
After all, is said and done, pitching is not an easy task. It is even harder when you are supposed to bring people on board a venture they are hearing about for the first time. It’s a harsh world out there.
In today’s world, where there is a new invention every day, competition is cutthroat, and you have to stand out. You need to be wholeheartedly committed to your venture for it to succeed.
Due diligence, thorough preparation, and confidence in yourself and your idea are the best weapons you can carry for this adventure.