Prepare your answers

Introduction

Don't think of the Q&A session as separate from the pitch. By anticipating the types of questions judges are likely to ask, you can strategically remove content from your pitch. This will allow you to maximize the total time allocated.

Once this lesson is completed and approved, learners will be able to:

1. Anticipate questions

2. Prepare answers

In this lesson, we will learn how the Q&A session is an integral part of the pitch that should not be underestimated, as it gives you a unique opportunity to present your project further providing valuable answers.

1. The Q&A session

During a mid-to-long pitch, you are expected to cover financial information. Be sure to include a general financial overview slide with a sampling of important facts (break-even units and dollars, primary costs, pricing etc.) but don't go into great detail. Anticipate that the judges will ask you a follow-up question regarding financials during the Q&A session (be it projections, profitability date, etc.) and prepare a detailed response. To augment this, you may create slides containing more complex financial charts in your slide deck's appendix.

The appendix will be a group of slides located after your final slide in your pitch deck. This info will not be shown during the allotted pitch time but can be shown/referenced during the Q&A session.

Again, taking into account who is listening to your pitch, the interlocutor will not ask the same questions if is an investor than is a business partner, a customer or a jury.

2. The Question and Answer Session tips

Here you have some tips to go strong for the Q&A Session:

- Anticipate any questions they may ask you. Put yourself in the place of your interlocutor, who would need to know what you have told us, prepare anticipated answers for each of these questions. Generally, your audience will ask similar questions, learn from what you ask, how they respond and if the information satisfies them. Constantly adapt your answers according to the feedback of your interlocutors.

-Don't spend more time than necessary answering. Just as the pitch was short, so should your answer, concrete and to the point. Generally, you will ask yourself at least a couple of questions, do not waste time on the easy questions, to have time in case you have to explain.

-Keep showing yourself confidence in every answer you give, without being overbearing and with clear language and no jargon

-If you don't know the answer to a question, don't make it up. Admit that you don't know, but acknowledge that this is a good question and that you will take time to answer it after launch and that you will contact the interlocutor to provide an answer. Obviously, take note of the question, reflect on the answer and add it to the Q&A annexe.

Finally, do not forget to be grateful for the time they have dedicated to you, for what they have been able to point you to improve or what you have learned with them.

Conclusion

A good Q&A session, where you are able to adequately answer the eventual question of the audience, can determine the choice of the audience to follow you in your project. Thus, this part of the pitch should not under any circumstance be neglected.

Bibliography

Pitching Basics

Here you have the contents of the lesson in PDF: