Pitch perfect: The role of emotions in entrepreneurial pitches

We’ve all heard of shows like Shark Tank or Dragon’s Den. Hopeful, eager entrepreneurs present their best pitches in the hopes that one of the Sharks or Dragons will see the potential in their idea and invest in their venture. The stakes are high, and entrepreneurs put a lot of time and effort into preparing the “perfect pitch.” But what if there were a scientific method to improve their odds of success?

This is what Shirin Biglari, PhD candidate at the Telfer School of Management, hopes to find out. Under the supervision of Professor Wadid Lamine, Biglari is exploring how the emotional connection between pitcher and investor affects the outcome of the pitch.

“Entrepreneurial pitching has become the face of entrepreneurship,” says Biglari. “Pitching is done everywhere, like the obvious reality TV shows, but also in schools, incubators, as well as government and financial institutions.”

According to Biglari, a good pitch should be compelling and include both cognitive and emotional triggers. For example: A pitcher should think about projecting professionalism—demonstrating their commitment and knowledge—as well as showing their excitement and passion for their venture.

There can be too much of a good thing, however. Studies show that a threshold exists for passion: showing passion wins you points, but showing too much will cost you. So, can the same be true about showing other emotions?

The gamut of emotions

Biglari’s research is focused on analyzing emotion through facial expressions, voice and speech for both the pitcher and the investor. Her interest in this topic was piqued by her work in the entrepreneurial ecosystem in Iran, where she learned that entrepreneurship is an emotional journey, particularly early on, when the stakes are high.

Biglari is conducting her studies in the brand-new Triple I Laboratory at Telfer, which is equipped with state-of-the-art technology allowing observational behavioural research. In addition to neutrality, the lab’s equipment has been trained to recognize eight common emotions: joy, sadness, anger, surprise, fear, disgust, contempt and confusion.

“It is both rewarding and challenging,” Biglari says about working in the lab. “It’s rewarding because the lab’s cutting-edge technologies enable a more objective and in-depth analysis of human behaviour, which is difficult using traditional methods in management research. At the same time, it is challenging because it isn’t completely automated. AI enhances research, but human expertise, supervision and validation are essential. Being among the first to use these technologies also means constant learning, trial and error, and troubleshooting.”

Nix the neutral

In November 2024, in collaboration with uOttawa’s Kanata North campus, Biglari presented her ongoing research study to a group of curious entrepreneurs and researchers. Her presentation was titled “Pitch Perfect: Mastering Investor Engagement.”

Biglari showed participants three different pitches for the same product and asked them to say which they found most compelling. A strong majority chose one pitch. Following that experiment, participants learned that the pitch they had found most compelling contained the most outward expression of emotion or, seen differently, the least neutrality.

The next steps in the study include recognizing and measuring emotions displayed by entrepreneurs during their pitch, as well as the emotions of the catchers (the people to whom the pitch is being presented), to find out if the emotions expressed contribute to the success of the pitch.

Over 2,000 Telfer students practice their pitches to take part in more than 30 case competitions. Check out the case competitions at Telfer and get involved!