Wednesday, July 31, 2024

Pitching an Idea

 How to Pitch an Idea: Process, preparation and Structure

Idea Pitch

When an idea is presented to someone, it is called pitching an idea.  It is also known as presentation of idea and oneself to others for consideration.

Idea can be pitched in formal as well as informal way but in professional setting it is advised to be formal with a little flexibility.

Benefits of pitching an idea

Creating improvements: If a person has an idea to improve something, delivering a pitch successfully can help a person achieve that objective.

Generating revenue: The pitch may allow a company to generate more revenue by pitching a potential new customer.

Developing relationships: A strong idea pitch can allow a person to develop relationships with potential partners, which could procure more resources for the business.

How to pitch a business idea

An entrepreneur needs to make a successful pitch to convince the investor for funding in his innovative idea in business. Here are the steps one should take in order to deliver a successful idea pitch:

1.        Think about idea

Before pitch an idea to anyone, ensure that ir must be specific and actionable. It must solve and justify the cost of solution.

2.       Understand the scope of the idea

Understand the scope of idea. Big ideas need a lot of preparation, time and multiple meetings while a small idea may need lesser than this.

3.       Identify the decision-maker

Identify the person who has the ability to approve the idea. Small idea can be approved at lower level like peers but big ideas are approved by higher authorities. A person must identify the decision maker on his idea.

4.       Consider the other person's perspective

Always consider the perspective of the listener or decision makers. If the pitch of idea suits to the decision makers the chances of success improves.

5.       Plan the pitch

The next step is the planning of pitch.  Generally, pitch is divided into three forms

a.       Elevator pitch- it takes 60 seconds.

b.      Short pitch- it takes 3-10 minutes

c.       Long pitch- more than 10 minutes.

6.      Cover all the relevant details required for pitching

Don’t forget to complete the content of pitch in all the ways. Take advantage of a chance.

7.       Practice the pitch

After considering all the above suggestions, start practicing pitch for others who can give an honest feedback. Constructive feedback can help improve upon idea and cast a good impact.

How to prepare a pitch for business

Pitch must include

1.       Intro: Introduction must include answer of who you are, why are you there in the meeting, why do you need funds, what are the chances of success.

2.       Problem and its solution: Emphasis on the real problems of customers and presents a solution firmly. Also mention why your solution is better than other.

3.       Opportunity and market size: a good research on opportunity and market size can give strength to pitching idea. Focus on three things

a.       TAM- Total addressable Market

b.      SAM- Serviceable addressable market,

c.       SOM- Serviceable Obtainable Market

4.       Competitive Analysis: Elaborate the uniqueness of your  business modal. It will give you competitive advantage.

5.      Marketing plan: Give a clear idea reaching your customers quickly.

6.       Business modal: Show profit in your proposed business.

7.      Financials: A good explanation on investment and returns will helps your pitching business idea.

8.      Asking for funding: Give details how much fund is required, and what is your expectation to reach to good returns.

Technical proposal

 Technical Proposal

1.     Technical comes from the Greek tekhno, which means "art or skill." Anything technical requires both art and skill.

2.     The word propose comes from the Old French root words pro, meaning "forth" and poser, meaning "put, place." 

3.     A technical proposal is a type of document that outlines the precise details of a proposed product or service.

4.     It is a  plan that suggest somethng to be done for future.

5.     Technical proposal is written in a formal set-up.

6.     It is made for

                        i.         Changing the existing thing

                       ii.         Making new thing

7.     It either provides its services or products to the second party.

8.     Oxford Dictionary defines proposal as,“A formal suggestion or plan or the act of making a suggestion.”

9.     Propoal includes the demand, expenditure and time for completing proposed statement.

Characteristics of a good proposal:

1.     A good proposal should be presented in a persuasive manner.

2.     It should be written in simple language.

3.     All the information should be precise and well organized.

4.     Proposal should be attractive and neatly prepared.

5.     The theme should be so convincing, as it may attract the attention of theconcerned person.

6.     A good proposal must highlight the benefits and advantages of proposal in full.

Purposes of writing proposals

1.     To alter any exisxting service or product or action, etc.

2.     To bring improvements.

3.     To plan and construct new things.

4.     To start something new, never before

Need/importance of a proposal

a.     It is used to make changes.

b.     It can suggest a new idea for betterment.

c.     It is used to improve engineering/technical performance within an organization.

d.     A good proposal helps the organization to get financial returns.

e.     Thes are are valuable records for an organizations.

f.      Promising proposals gives good writtens.

g.     These promotes various reasearch acivities

h.     These also helps to win contracts.

Categories of Proposal

All kinds of proposal are divided into two brod categories-:

1-    Solicited proposal:

Whenaproposalisinvitedby some individual/body or party,itisknownassolicitedproposal.Solicitedproposalsaregenerallysent in response to advertisements.

2-    Unsolicited Proposals: proposal:Sometimestheproposalsarenotinvitedbyanybody.Butanindividualorateamofindividualsthinksthatanewtechnologyorfacilitycanbedevelopedormodifiedbyworkingonadefiniteplan. He can prepareaproposalto start that workandsendittothebody,whomightfeelinterestedinthatkindofwork.Thistypeofproposaliscalledanunsolicitedproposal.

Types of Proposals

1.     Business proposals: the proposals that deals with any aspect related to business is called business proposal. These proposals helps in growth of the organization.

2.     Research proposals: Proposals that contributes in research field. These proposal needs scientific and systematic investigation.

3.     Technical Proposals: The proposals related to technology are called technical proposals.

Structure of Proposal

A good proposal has four essential parts. These are:

1.     Front matter

2.     Technical section

3.     Managerial section

4.     Financial section

1.     Front Matter: It includes many parts:

a.     Cover page: A long proposal needs a cover. Generally, light-colored/white-colored pages should be used as a cover. Cover bears:

                             i.         The name of the writer

                           ii.         Title of the report

                         iii.         Its date

                          iv.         Name of the authority/body to whom the report is to be submitted

b.     Title page: Next to the cover page, there is a title page. Title page bears:

                             i.         Title of the proposal

                           ii.         Name of the proposal writer

                         iii.         Its date

                          iv.         The project number, if it is…

c.     Letter of transmittal- Fund transfer and conditions

d.     Draft Contract-

e.     Acknowledgement: Many people help a proposer in making his proposal. The proposal acknowledges their contribution and thanks them. He mentions:

                             i.         Name of the persons

                           ii.         Their designation

                         iii.         The institution/where they are associated with.

f.      Table of contents: If the proposal is extra long, there needs a 'table of contents' but in a short report, there is no need to maintain a table of contents. It has:

                             i.         A list of headings

                           ii.         Sub-headings

                         iii.         The page number, on which these occur.

                          iv.         The list of enclosed tables/graphs should be clearly written.

g.     Executive summary: Summary must highlight:

                             i.         Objective of the proposal

                           ii.         Procedures adopted

                         iii.         Outcome of the proposal

2.     Technical section: The main body is the technical section. The technical section includes-

                             i.         Introduction- states the problems,

                           ii.         Background- describes the work that is already done,

                         iii.         Objective- Explains the objective,

                          iv.         Scope and limitation- Significance of the proposed work and its limitations.

                           v.         Technical Procedure- describes the technical procedure.

                          vi.         Methodology- the method of conducting the actual plan is mentioned.

3.     Managerial Section: This section provides information about:

a.     Sequence of activities

b.     The existing pieces of equipment, facilities, and products

c.     Required facilities

Besides, the proposer must convince the concerned authority about his potential in the concerned area. For this, he needs to mention:

a.     His academic qualities

b.     His professional/technical qualifications

c.     His experience in the specific area.

4.     The Financial Section: In this section, the proposer furnishes details of the expenses. This may include:

a.     Cost of the material

b.     Wages(to be given)

c.     Expenses on electricity/water/food/pieces of equipment/machines etc.

5.     Supplementary parts: Besides these, some more parts can be added, in case if the proposal goes lengthy.Such as:

                             i.         Appendices

                           ii.         Glossary

Thesis and Project Report Writing

 Thesis and Report

 

Thesis

Report

Work Type

Thesis is a scholarly work focuses on academic knowledge.

Report is a practical and factual document focused on communicating information .

Purpose

It presents original research, analysis, & arguments to advance knowledge in academics.

It communicates information, findings, and recommendations on a specific topic or project. 

Length & Depth

Thesis is lengthy and deep to provide a comprehensive and thorough investigation.

Report is generally more concise, focusing on the main points,

Structure

Thesis has a flexible structure that allows for the in-depth exploration of the research.

Generally, a repot has standardized structure to present the information impressively.

Originality

A thesis is expected to contain original research and contribution to the field.

A report may summarize and synthesize existing information.

Audience

Thesis is aimed at an academic audience, such as professors and peers in the field.       

A report is typically written for a specific audience, such as managers or clients

Area

Used in academic field

Used in administartion, business, corporates, etc.

Thesis

·       In modern English the word " thesis" has come from different route like from

ü  The Greek root τῐ́θημῐ (títhēmi) and (θέσις)

ü  Latin word’’ thesis

ü  Late middle English‘Thesis’

·        Thesis means ‘something to put forth’.

·       It is a lengthy, detailed analysis on a particular topic for the purpose of original research.

·       Its main aim is to investigate new dimensions on a particular problem.

·       It is generally used in academic field.

Importance of thesis –

1.     It helps to form argumentative analysis and discussion on a problem.

2.     It serves as a roadmap for readers, providing clarity about the topic and author’s point of view.

3.     It improvesvarious soft skills like- logical thinking, analytical power, critical thinking, creativity and innovation.

4.     It also enhances the writing skills.

How to write thesis(Structure of thesis)-

Starting a thesis can be daunting. There are so many questions in the beginning-

1.     How do you actually start your thesis?

2.     How do you structure it?

3.     What information should the individual chapters contain?

Each educational program has different demands. Depending on the demand of your program you have to decide and take the further steps.

Structure of thesis

Parts

Function

components

Front part

Frames the thesis work

1.     Title page- title, author, supervisor, place, date, etc.

2.     Declaration - if any thing to declare to the reader

3.     Certificate - if any certificate received during thesis  

4.     Acknowledgement- name of all the creditors who assist you.

5.     Abstract- research poblems, methodology, key result, conclusion

6.     Table of content- Heading and subheading with pagenumber

7.     List of figures-figure numbers,titles and  page numbers.  

8.     list of tables-table number, titles, and page numbers

Main Body

Includes, introduction, narrative, and analysis

1.     Intoduction- purpose of investigation, problem being investigated, Literature review/backgroud (citing previous work)

2.     Theory-Theory of your experiments, research, calculation.

3.     List of figures - details of any material used for thesis.

4.     Apparatus- name und purpose of using any apparatus.

5.     Procesure- Deatail of research including illustrations.

6.     Result- result must be presented with enough supportive material like tables, graphs, etc.

End Matter

Gives referential material

1.     Appendixes- any addition documents or pages.

2.     Bibliography- Alphabetical list of work referred.

3.     Glossary-alphabetical list of difficult words with their meaning.

Front Part

1.     Title page- This is an introductory page of any thesis.

This page introduces the reader about the title, author, supervisor, time, place and, etc.

2.     Declaration - If any thing to declare to the reader. This is for general announcement or any other information that author wants to give in advance to the reader.

3.     Certificate – Here, author mention the certificates he received from authorities required for the conduction of reasearc or any other certificate received during thesis. 

4.     Acknowledgement- This section shows the humbleness of author. He thanks to all who helped him in any way. It may one or more pages to name of all the creditors who assist the author.

5.     Abstract- The abstract is the overview of a thesis and it is generally very short. Research poblems, methodology, key result, and conclusion are included in it.

This section should highlight the main content of the  thesis at a glance so that someone who is curious about your work can get the idea quickly.

6.     Table of content- Heading and subheading with page number.

7.     List of figures-Figure numbers, titles and  page numbers are mentioned in this section. 

8.     List of tables-Table numbers, titles, and page numbers are mentioned in this section.

Main Body

1.     Intoduction- The introduction of a thesis gives an overview of its basics or main points. It should answer the following questions-

ü  Purpose of investigation, (objectives)

ü  How is the topic being studied ?(Methodology)

ü  What is being studied?(Content)

a.     Purpose- Problem being investigated,

b.     Literature review/backgroud (citing previous work)-

A literature review is often a part of the introduction, but it can be a separate section. It is an evaluation of previous research on the topic, showing that there are gaps that your research will attempt to fill.

c.     Methodology- The methodology chapter outlines-

·       Which methods you choose to gather data?

·       How the data is analyzed?

·       Justification of choosing that methodology.

Thus, methodology section shows how your choice of design and research methods is suited to answer your research questions

9.     Theory-Theory of experiments, research, calculation is written here.

10.  List of figures - Details of figures, if, is mentioned in this section.

11.  Apparatus- Name und purpose of using any apparatus.

12.  Procesure- Detail of research conduction of research including illustrations.

13.  Result- result must be presented with enough supportive material like tables, graphs, etc

The result chapter outlines what you found out in relation to your research questions or hypothesis. Clearly visualize your results using tables and graphs.

14.  Conclusion: Here author highlights research objectives that have been achieved. Author  can also reiterate any limitations to his study and make suggestions for future research. In conclusions, following points should be checked:-

·       Thesis should be tied up nicely in the conclusion and show clearly-

ü   What you did ?.

ü  What results you got….

ü  And what you learned…

End Matter

1.     Appendixes- any addition documents or pages.

2.     Bibliography- Alphabetical list of work referred.

3.     Glossary-alphabetical list of difficult words with their meaning.

4.     References- The details of any quote or line of reference that are used in thesis.

Project Report

1.     A project is a set of tasks that must be completed within a defined timeline to accomplish a specific set of goals. 

2.     The word “Report” is derived from the Latin word of “reportare” which means carry back.

3.     Hence, a project report is a detailed factual description of the project that has been completed with a specific objective.

4.     It is a document ,which provides details on the overall picture of the proposed task.

5.     It contains data/information, on the basis of which the project has been appraised and found feasible

Types of projects

1.     Business Project

2.     Technical Project

3.     Social Project

Need of project report

1.     A project report helps to get the funds/grants sanctioned for the proposed work.

2.     A project report also provides insight about the importance of the work done by the project manager.

Structure of Project Report

1.     Cover page

2.     Title page

3.     Author/s

4.     Abstract

5.     Introduction

6.     Main Content

7.     Conclusion

8.     References

9.     Appendices

Tips for writing a thesis or project report

Thesis or the project report is expected to provide the reader with the important aspects of

your work from the start (introduction) to the finish (conclusion).

1.     Topic must be very much clear to the writer or to the readers.

2.     It must answer why the work is better than the existing one.

3.     It must be build around the central theme.

4.     ‘7 Cs’ of writing (clarity, completeness, correctness, conciseness, coherence, courtesy and consideration) must be followed.

5.     It must show its contribution towards the research community.

6.     It must have explanation to every relted question.

7.     It must relate the finding to the future benefits.

8.     Don’t overdo significant figures.

9.     Avoid the use of contractions and possessives and jargon.

10.  Use jargon only when your audience will understand it and a simple substitution doesn’t exist.

11.  The important thing is to communicate effectively.

12.  It must be proofread many times before submission.