Request a Demo

Blog

Posts Tagged ‘the value of modeling’

It’s Time to Rip Off the Band-Aid and Share Results: Here are 6 Reasons Why!

Posted on: July 8th, 2016 | by Bill Kenney

We talk to organizations every day who are concerned about sharing the results from their pitch events and demo days. Their concerns range from uncertainty of result validity and judging to concerns about inadvertently discouraging the students, entrepreneurs and intrapreneurs in their charge.

From serving, partnering and associating with thousands of organizers over the last few years, we’ve learned that democratizing results is one of the biggest keys to building community, accelerating your current cohort and improving the starting point and trajectory of future cohorts.

Here are our 6 reasons why it’s imperative that you democratize your pitch event and demo day results starting today!

  1. Participants need to learn how to internalize and action feedback – Customers, investors, strategic partners and employees will not shelter your teams from critical feedback. The best time for your teams to learn how to listen, ask questions and appropriately respond to feedback is when they’re with you. This is a lot like how artists gain from critiquing. They learn how to listen and evolve in safe and collegial environments. It is much better to be “wrong” when a sale or investment is not on the line. Beware of coddling.
  2. Referential learning – While seeing your individual scores and feedback may be helpful, it is abstract. Seeing your scores and feedback in relation to your peer group adds significant context and allows high speed leapfrogging. This context allows participants to model better performers, benchmark relative change and resource those who are moving fastest.
  3. Start ahead – Yes, it’s really amazing that each wave of new participants is asked to start at the absolute beginning. They gain nothing from the previous generations of participants. Democratizing results allows the community, including all future participants, to learn from and stand on the shoulders of previous participants. This also helps take the mystery out of the program, which better engages future participants and allows them to onboard more prepared for success. Competitive runners use democratized results from previous versions of events they will compete in to know how to train, identify training partners and fully commit to events.
  4. Program transparency – Nothing creates judging or process suspicion quicker than cloaking results. Transparency also assures that any weaknesses in the judging processes are found out and corrected quickly. Community trust and integrity are founded on transparency.
  5. All feedback is perfect – While there are some improvements that can be made in most judging processes to improve the utility and utilization feedback, the biggest opportunity is for organizers and participants is to learn that all feedback is perfect. Feedback is somebody’s opinion based on their frame of reference. Anyone sharing their opinion is taking a risk. They do so with an earnest interest in providing valuable insight. Participants need orientation and training before getting feedback. Honoring and respecting all feedback assures a steady pipeline of valuable input.
  6. Do it today, delay is expensive – Waiting only prolongs the work you’ll have to do to shift your culture. With every passing day that results are not democratized, your community and current participants are losing value and potential energy. It’s up to you to break these antiquated Darwinian traditions and propel your community to new heights.

According to performance expert, Lisa Marshall (lisabmarshall.com) “Feedback from others is the fastest way to improve. It’s how we learn and excel. Feedback motivates us and helps us to make course corrections. It’s critically important to understand that the MAIN idea behind feedback is to MOTIVATE behavior.”

Amplify learning, growth and engagement by democratizing your results today.

About
Score My Pitch is a pitch event judging and feedback system. Harness the wisdom and potential energy in your community. Produce reliable results. Share contextual and actionable feedback. Watch the video.

Ask us how we can help you successfully democratize pitch event results in your community. Email or call Bill Kenney today at bkenney@testmypitch.com or +1 (860) 573-4821.