Economy
How Startups Can Conduct Business Pitching for Solid Closing
By Emmanuel Otori
What does pitching in business entail?
In business, pitching means presenting company concepts to another person. As an illustration, you might introduce your fledgling company to possible investors or your items to prospective clients.
To get buy-in, a business pitch must clearly explain your strategy or objectives to the audience. Your goods and business are the subjects of your pitch. Beginning to share your concept is never too early. You must always be prepared to make a pitch in order to impress or excite people about your company. Pitches are target-based to either investors or customers.
A pitch is a speech intended to persuade an audience or listener to take a certain action. The idea of your speech dictates the purpose of your pitch and the likely outcome to anticipate, so the following reasons for a pitch are provided: to attract early adopters who will use your service, to attract investors, and partners who can help you grow your company, request a reasonable sum based on maturity and the stage of your startup.
Kinds of Pitch
Today, it is not uncommon that investors lack the patience and time to listen to traditional pitches where you reel off all the benefits of your product and then make a “great deal” to close.
One-word Pitch: It is important that a word reflects your brand. It is a keyword that summarizes the concept of your product or business. The elements of your brand can stimulate that word that becomes a key of clarity to a first-time hearer. This keyword is often coined from the mission/vision, goals, unique point or even the solution offered.
Elevator Pitch: This is your go-to pitch for networking events, social media, and elevator rides with potential clients. Every salesperson is expected to carry around a pitch like this. Within 30 to 60 seconds, the fundamentals of your product and company are discussed. You risk boring your listener whenever you’re outside. In your speech, you should focus more on why you give a particular solution than what solution you propose. This presents the concept of your product and company in a more persuasive manner.
Investor Pitch: Here is a speech that describes the issues you hope to address as part of your investor pitch. You should not use industry jargon when presenting; it is exclusively for your pitch deck. In an investor pitch, you describe what you do, the level of business maturity, the size of the market, and your partners. If you can create a large company, investors will be interested.
Customer Pitch: The customer pitch is that, in contrast to investors, customers are looking for the problems that your product and business can help them with. Get them to talk more about the issue than you do, and only then can you determine what the appropriate remedy is. Presentations can contain industry terminologies because it is considered that the audience is aware of the market.
Follow-up Pitch: Here’s a reminder of a concept you’ve already pitched to a listener who hasn’t yet lived up to your expectations. This needs to be handled respectfully and with courtesy. A postal pitch or a cold phone pitch can be used to follow up with an investor or a client.
Presenting a Pitch
Firstly, when giving a pitch, begin with a short, friendly introduction and a memorable slogan to pique the audience’s interest. Note that you should keep your opening slide up longer as your investors’ attention is filtered by it.
Next, in an investor pitch, you would continue by discussing a problem your business or idea addresses; whereas, in a customer pitch, you would allow the customer to explain their issue. Make up a story to raise thoughts, and then use the pertinent data and facts to persuade or convince them of the issue. Taking a moment will help your pitch’s dramatic impact.
Furthermore, explain your approach to the audience, outlining how your concept functions and how you have tested it to support it. Use visuals to show how your product or service looks in an investor pitch. These could be videos, images, or screenshots. Keep in mind, that businesses are not without rivals, but your special selling point offers you an advantage in convincing your listener that your solution is the best one.
Moreover, when making a pitch to an investor, describe your business model to demonstrate that you have a sound strategy for generating income. Your traction is a crucial component of your pitch because it details your past successes. Telling your investor how you intend to expand goes a step further. This demonstrates your maturity and where you see your firm going in terms of attracting customers.
Conclusion
You definitely do not want to have a fantastic product or idea but waste your opportunity to close by being unprepared. Before presenting to a prospective investor or consumer, it is critical that you assess your level of readiness in a few actions.
➢ Examine your pitch pattern to make sure it lives up to your expectations.
➢ Be sure to sound assured.
➢ Pitch-matching with a note is improper.
➢ Your pitch should be memorized and practised.
➢ Be mindful of your time and focus just on keywords in your pitch.
➢ Have brief versions of your pitch.
➢ Pair your story with a visual document called a pitch deck which you deliver while pitching.
In your pitch session, you should sell your problem in ways that are evident or set by the consumer to avoid promoting a remedy in your pitch without first detailing the problem, or at least its significance.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
By Adedapo Adesanya
The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, July 17, by N1.35 or 0.07 per cent to N1,380.18/$1 from N1,381.53/$1.
It also improved its value against the Pound Sterling in the same market segment during the session by N11.75 to trade at N1,854.42/£1 compared with the previous day’s N1,866.17/£1, and gained N5.69 against the Euro to sell at N1,576.99/€1 versus Thursday’s closing price of N1,582.68/€1.
In the same vein, the Naira chalked up N1 against the United States currency yesterday at the GTBank forex desk to quote at N1,388/$1, in contrast to the preceding day’s N1,389/$1, but closed flat at the black market at N1,405/$1.
The appreciation of the Nigerian currency on Friday came amid fresh signals that Nigeria is building its external reserves for protection against shocks and excessive currency volatility.
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said the country’s gross reserves had risen above approximately $52 billion by 15 July, while net reserves had increased from about $3 billion when the current CBN leadership took office to more than $40 billion.
Mr Cardoso linked the increase in reserves to reforms that had restored greater confidence in the foreign exchange system. He also pointed to efforts to diversify foreign currency inflows, including policies designed to increase remittances through official channels.
He noted that monthly diaspora remittances had risen above $600 million and the CBN expected them to reach approximately $1 billion by the end of 2026. The target is part of a broader effort to grow reserves through recurring inflows rather than temporary measures.
The improvement, he argued, had strengthened Nigeria’s capacity to respond when unexpected events threatened market stability.
The apex bank has also launched a new digital platform that will track every foreign exchange transaction involving Bureau De Change (BDC) operators, marking a major step in its efforts to improve transparency and strengthen oversight of Nigeria’s retail forex market.
As for the crypto market, prices were up as markets overlooked geopolitical developments and macro forces weighing on the whole market ecosystem rather than anything crypto-specific, with Cardano (ADA) up by 4.6 per cent to $0.1661.
Bitcoin (BTC) jumped by 1.8 per cent to $63,968.32, Ethereum (ETH) improved by 0.9 per cent to $1,843.88, Dogecoin (DOGE) also rose by 0.9 per cent to $0.0723, Solana (SOL) soared by 0.6 per cent to $74.90, Ripple (XRP) also appreciated by 0.6 per cent to $1.08, and Binance Coin (BNB) advanced by 0.1 per cent to $567.32.
However, TRON (TRX) depreciated by 0.2 per cent to close at $0.3218, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
