A psychological rating instrument: The entrepreneurial pitching success scale and its reliability and validity

Entrepreneurial pitching success (EPS) is a behavioral observation scale consisting of behaviorally anchored items developed to understand behavioral predictors of pitching success; it is based on a scoping review of the empirical literature on pitching, condensed to 13 important aspects. Similar to the elaboration likelihood theory and system 1/system 2 decision-making, we suggest two routes of persuasion in pitching—rational arguments and inspirational and affective approaches. Study 1 (N = 100) on the first version of the scale established interrater reliability and improved the precision of the wording of the items. Study 2 (N = 185) on the criterion validity correlated the predictor items and factors with three success variables: 1) feeling inspired by the pitch; 2) convinced of good market opportunities; and 3) advancing to the next level in the Slush Pitching Competition as “objective” success. Study 2 proves clear criterion validity of the EPS. Thus, EPS can be used to bridge research and practice.