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Pitching 101
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Pitching 101

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Pitching tips for start-ups from me, UCF and Guy Kawasaki

Pitching tips for start-ups from me, UCF and Guy Kawasaki

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Pitching 101 Pitching 101 Presentation Transcript

  • Art of the Pitch
  • Is a Pitch.You have less than a page toattract people and explain whatthey get for investing.One key = the video!
  • “if your idea can’t be conveyedin a sentence its survival isalready in doubt”
  • Hello! We live in anADD/text/tweet world.
  • Today’s Situation You are Telling a Story. Who What Why How Its not the complete story Just the most compelling one
  • Your Pitch is a Story Who What Why How Its not the complete story: Just the most compelling one. (And hopefully it won’t put everyone asleep.)
  • It’s Not About You Its about them - the audience. Frame it that way. WIII4M Who is the Audience?
  • The strength of the idea is notenough. It’s about whether itresonates and clicks into place in themind of your user in a heartbeat.
  • Very Important Point You are NOT pitching a great idea, team or product. You ARE pitching what your business will do for investors and for customers SO, pitch how your business will solve a tangible problem that exists TODAY!!
  • Kill the geek speakFocus on customer benefits, nottechnical benefits.Tell a story that paints a personalpicture for your audience.
  • Tips from UCF Explain yourself in the first minute. Grab them by the throat. "So what?" Know your audience. 10/20/30: 10 slides, 30 point font, 20 min max "total addressable market"
  • 10 Pieces of the Pitch by UCF1. Problem 6. Competition2. Your Solution 7. Team3. Biz model 8. Projections and milestones4. The Magic 9. Status and timeline5. Marketing 10.Summary /call to action
  • PRACTICE
  • Coach, Mentor, Co-Founder, Board of Advisors
  • Slide 1 of 10: Overview Insert “wow!” descriptive text with a compelling proposition, no more than 10 words. One-sentence “wow!” explaining exactly, tactically what you do. There should be no question about what business you are in and who your customer is after this 60-second description.
  • Slide 2: Problem / Opportunity What searing pain do you cure? Or, what great opportunity do you tap? How many people/organizations feel this pain or provide this opportunity?
  • Slide 3: Unfair Advantages (Advantage 1) - What makes you special? (Advantage 2) - Why will you win? (How do you maintain unfair advantages?) Why is the field tilted in your direction? It can be technology, relationships, founders. “We’re smart, hardworking, and really believe” doesn’t cut it. Everybody says that. Highly unlikely that it’s patents, too.
  • Demo This is the place to do a demo. Ten minutes is long enough. Try not to get sucked into a long demo so you can’t finish your presentation.
  • 5) Sales and Marketing How will you rollout? How will you introduce your product or service? How much have you done already? How will you achieve critical mass? Sorry but “we’ll go viral” isn’t a strategy. Neither is WOM. What is the source of this expertise? Tactics, tactics, tactics -- not wishful thinking
  • COMPETITION We can, it can’t ’ It can, we can’t ’(Competitor 1)(Competitor 2)(Competitor 3)
  • 6) CompetitionAssume that the audience knows as much, andmaybe more, about the segment as you do.If you say “we have no competition,” it usuallymeans that you’re either (a) clueless or (b)addressing a market that doesn’t exist.The reason why you want to show what you can’tdo is to build your credibility. If you’ll admit howyour competition is better than you, people aremore likely to believe you when you discuss howyou’re better than your competition.
  • 7) Business Model• (Pricing)• (Value of each customer)• (Customer acquisition cost) How will you make money? Don’t show multiple revenue streams and don’t try to make the point that you’re inventing a new way to make money. The most important thing to explain is the assumptions in your business model and how they determined the financial projections in the previous slide.
  • Forecast // Vision of Evolution Year 1 Year 2 Year 3 Year 4 Year 5# of Customers# of Employees Sales Expenses Profits “You’re pulling numbers out of the air and you have no idea what will happen.”
  • Slide 9: Team (Name, key facts) (Name, key facts) (Name, key facts) 3-4 key people. Highlights only. Use the logos of recognizable past employers. Do not list your accountant, law firm, and other vendors. You’re paying them. They’re not “investing” in you. If you’re going to list advisors, ensure that they are really well-known for the market you’re going after.
  • 10) Status and Milestones Current status First ship? First revenue? Where are you now? What are the next 2-3 big milestones?
  • Your Slidedeck Don’t have slides this busy. Guy says that because he is Guy he can – you aren’t him. Slides are to paint a story – not to be the story. Reading your slides will annoy those you are pitching to!!!!
  • Now People WhoHave PitchedReuben PressmanSusie SteinerSean Davis
  • Acknowledgements UCF Guy Kawasaki Other sources that I have collected over the years.