Today, I was leaving a coworking space when two entrepreneurs independently struck up conversations with me. Entrepreneurs love to hear about what peers are working on; it’s their version of talking shop. Both asked me the customary “What are you working on?” question. It was an opportunity to test out my new problem and vision statements, so I dove in. A few takeaways after reflecting on both pitches:

• Problem statement – Having the wording for the problem statement nailed down helped tremendously. Both entrepreneurs quickly grasped the problem. This is the most important part of any pitch.
• Rambling – I caught myself talking too much after I’d described the problem. I was excited about this project, and that energy translated into some rambling. I need to control my excitement and pause to allow the other person to ask questions so it’s a conversation, not me vomiting on them.
• Elevator pitch – I need to develop a thirty-second elevator pitch. I have the pieces of it, but I need to hone it, memorize it, and have it ready. I didn’t have that, which contributed to the rambling.
• Reps – I was a little rusty overall. Putting your problem statement, vision, etc. down on paper is different than pitching them live. Getting more reps is what makes the pitch crisp. I need more reps. I’ll likely go to some pitch practice sessions the coworking space offers.
• Connection – People have a personal connection with books. One person today told me he chose his career after reading a biography as a child. His career mirrors that of the person he read about. If the person I’m pitching has a connection with books, I should explore that up front and lean into it during my pitch.
• Analogy – I tested an analogy today. I said I’m building the Bloomberg terminal for entrepreneurs. I’m not sure why; it just came out during my verbal ramble, so I ran with it. Surprisingly, it landed well. Both people got it instantly. I’m not sure if I’ll use it going forward, but it’s good to know it’s there.
• Stay ready – I wasn’t planning on pitching today, but it happened twice in five minutes. My takeaway is to stay ready to pitch.
• Energy – I was excited and had energy because I’m excited about what I’m working on (and I finally know how to communicate it, lol). My energy got my listeners excited too. I’m usually a laid-back, easygoing person, but I need to embrace and share the energy this project gives me.

That’s it. That’s what I learned from pitching on the fly twice. I didn’t bomb, but it wasn’t as good as it could be. There’s more work for me to do on my pitch. It feels good to be back in the early-stage founder mode.