I confess—we ran pitch competitions for more than 10 years. Rooms were packed, trophies given, winners celebrated. But they were theater, not business. Winning means nothing if customers aren’t paying.

Last Friday, I judged Pitch Challenge Istanbul. 59 founders pitched. By number 25, I had to leave—not because I didn’t care, but because the same mistakes kept repeating: jargon-stuffed slides, features over problems, and “change the world” visions with no traction. Here’s the reality:

• 3 seconds → Do I get what you do?
• 30 seconds → Do I believe it matters?
• 3 minutes → Do I want to learn more?

Most fail in second one.

Use competitions for practice, not validation. They can sharpen your message and toughen your skin. But remember: the only scoreboard is revenue. Investors don’t invest in winners. They fund customers.

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