on pitching - an open talk on selling business ideas [March, 2013]
1.
InnoVits
Workshop
March
19th
2013
on
pitching
OPEN TALK ON SELLING BUSINESS IDEAS
2. what
is
a
pitch?
In baseball a pitch is the act of throwing a baseball
toward home plate to start a play.
A pitch is one of the most important tools you have
to convince investors about the value of your
business ideas
3. How?
A
pitch
in
a
elevator
You never know
when you’ll have the right chance
You are in a elevator, with the right people
“coincidentally” agaist the
to share you ideas
person that you always want to
meet. so
if it happens
The elevator button lights up to You must be prepared and ready!
the eight floor so you have thirthy
seconds to tell your story:
your elevator pitch.
Does this situation happen
often?
Maybe not. The elevator is too
full or your partner must already
get off at the third floor.
4. anything
but
a
perfect
science!
But it’s not the case to
improvise
Training this competence will help you get the
most out of any chance you might have … to pitch
4
6. be
comfortable
with
the
context
…
… not just the
environment
Know your audience:
is there any particular
subject they pay
attention to?
What situation
are you in?
How much
available time?
6
7. which
ingredients
for
your
recipe?
OBJECTIVES
What do you want out of the
conversation/speech
CONSTRAINTS
Short available time
Uncomfortable location
How much attention by your
interlocutor?
FOCUS
What problems of your customers
help you solve?
PASSION
It’s contagious
Be positive and look comfortable
7
http://en.wikipedia.org/wiki/Pitch_baseball
8. get
straight
to
the
point
Start with an attention grabber
sum up your proposition in one
line
e.g.: You never actually own a
Patek Philippe. You merely
look after it for the next
generation.
A kind of justification to spend
a tremendous amount of
money on one time piece that
could have bought you half a
dozen other Swiss quality
watches 8
9. stairway
to
heaven:
a
logical
path
[1] The PAIN explain the
needs of a potential
customer base. Here you
define the nature of the [2] The SOLUTION – Value
demand. Identify the target. Proposition
Describe how you will solve
the pain from a user
viewpoint (users first)
[3] The BUSINESS MODEL
You have to explain your business model, that
is he way you think you create create value.
This is related to partners, activities,
resources, customer relationships, distribution [4] The TEAM
channels, customer segments, cost structure, The set of competence
revenue streams. needs to be balanced 9
10. be
impressive:
a
matter
of
style
Be direct, persuasive and
enthusiastic
Irony works and is for free!
Do not use overly language
Clearly express your
differentiating value
What is in it for me?
That is … why should the listener
spend his time listening to you?
10
11. perfection
is
not
of
this
world
The perfect pitch … simply does not exist. You have to
adapt to any potential situation the get the result.
Being prepared will make the difference.
The main real value of a business plan is in making your
business proposition believable to a potential investor.
The BP is useful to prepare you.
Never miss a chance to pitch and gather feedbacks.
This will prepare you for the next pitch.
11