Going about things a different way every now and then, may sometimes introduce you to new and insightful experiences, and acquaint you with knowledge that would otherwise lay hidden or out of reach. Now, that’s why your startup should invest some time and effort into reverse pitching. Rather succinctly, a reverse pitch could sow a seed that could bear much fruit!
But, what is reverse pitching?
Simply put, it’s when a third party (sometimes an investor or a potential investor) pitches the company back to its constituent or founder members, in a role reversal of sorts. This could open up a whole host of wonderful possibilities, so do read on.
Buhbyee, naivete!
Quite often, startups are so taken in and impressed by their ideas and concepts that they spend very little time contemplating, let alone assessing all of the potential pitfalls or downsides to an idea, concept or company. A reverse pitch, can arouse them from this self-congratulatory reverie, neutralise the naivete, and provide them with the focus they need to go higher and further.
Fresh eyes
It also bears recognising that the people in a particular startup have many things in common with each other. In fact, it’s most probably these ‘common things’ that have pulled them together in the first place. Now, while this might provide for many endearing stories and camaraderie, it also provides a hotbed for homogenous thinking and perspectives, which could be detrimental to the company. Therefore, startups should be chomping at the bit at the mere mention of reverse pitching, as it will give them a more than useful view that could be miles away of what they have in their noggins, and which would allow them to be streets ahead of the competition.
Doldrums ahoy!
Sometimes, just sometimes, things may be all smooth sailing at a startup (I know, I know!). And this might lull the enterprise into a false sense of security. While this situation is not to be entirely despised, it prevents the startup from heading in a more profitable direction, or from doing things better. Whoever said, good is the enemy of great was right! Insights and fresh views as made available from a reverse pitch could therefore power the startup to bravely go forth and discover exotic locales and their untold abundant treasures.
Business hot takes
It’s not uncommon for a reverse pitch to be conducted by an investor or potential VC – an experience that could be singularly invaluable to the startup, irrespective of the stage the company is in. As such, besides giving them a new perspective – a highly-charged business one at that, it does remove the scales that have steadily built up over the startup founders’ eyes. It could thereby then help them trim, cut-out, adapt and adopt accordingly. What’s more, it also gives them an investor’s perspective on things, which could help startups better pitch their businesses to investors.
