The Art of the Pitching

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Guy Kawasaki's Lecture Series

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The Art of the Pitching

  1. 1. 1
  2. 2. The Art of Pitching Bill Joos Go To Market Consulting bill @ go to market consulting .com +1 650 799-5980 bill joos blog.com © 2005 Garage Technology Ventures and Bill Joos 2
  3. 3. The Art of Two Parts . . . Pitching Content Delivery 1: 2: 3: Players, 4: Title Company Problem Pain & Pain Killer 5: 6: 7: 8: Technologies Competition Biz Model Go to Market 9: 10: 11: 12: Metrics & Team Timelines & Why Us? Money Status What How 95% 5% Go To Market Consulting 3
  4. 4. The Art of Two Parts . . . Pitching Content Delivery 1: 2: 3: Players, 4: Title Company Problem Pain & Pain Killer 5: 6: 7: 8: Technologies Competition Biz Model Go to Market 9: 10: 11: 12: Metrics & Team Timelines & Why Us? Money Status What How 50% 50% Go To Market Consulting 4
  5. 5. The Art of Two Parts . . . Pitching Content 1: 2: 3: Players, 4: Title Company Problem Pain & Pain Killer 5: 6: 7: 8: Technologies Competition Biz Model Go to Market 9: 10: 11: 12: Metrics & Team Timelines & Why Us? Money Status What 50% Go To Market Consulting 5
  6. 6. The Art of Analytical Mind of Investors Pitching SWOT Strength Weakness - + Opportunity Threat - + Go To Market Consulting 6
  7. 7. The Art of Pitching 1 Begin with “The End” Allow for pitch decay Go To Market Consulting 7
  8. 8. The Art of Pitch Decay Pitching Go To Market Consulting 8
  9. 9. The Art of Pitch Decay Pitching 50% left after just one hour Go To Market Consulting 9
  10. 10. The Art of Pitch Decay Pitching 20% left after just one day Go To Market Consulting 10
  11. 11. The Art of Pitch Decay Pitching Only 10% left after just one week Go To Market Consulting 11
  12. 12. The Art of What’s the 10% that Matters? Pitching • If you just remember three things today: – 1. Big point one – 2. Big point two – 3. Big point three Go To Market Consulting 12
  13. 13. The Art Build Your “Why Us?” of Summary Slide First Pitching Begin with “The End” 12: Why Us? Here is why you should invest in us Go To Market Consulting 13
  14. 14. The Art of Pitching 2 Be brief …but it is much harder to do Go To Market Consulting 14
  15. 15. The Art of Mark Twain Said It Best: Pitching “I didn’t have time to write you a short letter, so I wrote you a long one.” Elevator Pitch Overview Presentation Samuel Clemens, a.k.a. Mark Twain Go To Market Consulting 15
  16. 16. The Art of KISS: Keep It Simple Stupid Pitching Our technology is the first integrated and automatic Book Scanner that will scan and digitize bound documents at speeds of 1,200 pages per hour and at a fraction of the cost of existing products, based on a disruptive digital imaging technology initially developed at Xerox PARC and protected by 5 granted patents and one pending. Go To Market Consulting 16
  17. 17. The Art of KISS: Keep It Simple Stupid Pitching Our technology is the first integrated and automatic Book Scanner that will scan and digitize bound documents at speeds of 1,200 pages sgdb xfeo desd if xwfe n sqnd sjdivqo sjd efk nje epldi dfjf wq nvedo jful nvby jfwin fjel bwlo fjmo jims dhf this guy is boring me to death dhew bgfp fths jswi beejh ex d sadjdm gd dm ndgfclms. We capture the future of knowledge. Go To Market Consulting 17
  18. 18. The Art of Kill “Geek Speak” Pitching Utilizing the 2048-bit Diffie-Hellman key exchange and 168-bit, triple-DES, we provide intrusion protection for digital voice, fax and wireless communications. We safeguard your communications. Go To Market Consulting 18
  19. 19. The Art “Wait a of Pitching Tell m 3 “Bait the Hook” Bait the hook Your Go To Market Consulting Get ‘em Interested 19
  20. 20. The Art Elevator Pitch: of Where Does It Fit? ... “Wait a minute Pitching Tell me more!” tch tch Where Does Your Elevator iPitch Belong?Where Does Your Elevator Pitch Belong? Pi P r r to to a a ev ev El El “Wait a minute… “Wait a minute… Tell me more!” Tell me more!” “Bait the Hook” “Feed the Fish” Hook” “Bait the “Feed the Fish” “Reel ‘em in” “Bait the hook” Your elevator pitch Your elevator pitch Get ‘em Close ‘em ‘em Interested Get Close ‘em Get ‘em Interested Close ‘em interested Go To Market Consulting 20
  21. 21. The Art Elevator Pitch: of Where Does It Fit? Pitching n io y t nt r n ta io ma II e I at m n e m e e te itch ent Su an Pres enc enc et Pl Your ig aP St es v Where Does d Elevator Pitch Belong? e Where DoeseYour Elevatorr Pitch Belong?e ilig Sh ss ile n to l Pr ti il Lin sio va ia e D eD m cu sin eta e s le g t ni Exe Bu “Wait a minute… Du Ter a aMi E Du T“Wait minute… I D Tell me more!” Tell me more!” “Bait the Hook” “Feed the Fish” Hook” “Bait the “Feed the Fish” “Reel ‘em in” “Bait the hook” Your elevator pitch Your elevator pitch Get ‘em Close ‘em ‘em Interested Get Close ‘em Get ‘em Interested Close ‘em interested Go To Market Consulting 21
  22. 22. The Art of Simple Elevator Pitch Pitching Call to Action? Why you? Why now? What / Who Go To Market Consulting 22
  23. 23. The Art of Advanced Elevator Pitch Pitching Call to Action? Mission Statement Unique Differentiators So What? Benefits What? (50,000’) Market Opportunity Burning Problem Tag Line Go To Market Consulting 23
  24. 24. The Art of Pitching 4 Get high and stay high Go To Market Consulting 24
  25. 25. The Art of Molly Pitching Go To Market Consulting 25
  26. 26. The Art of Get High and Stay High Pitching What? So What? Benefits How Go To Market Consulting 26
  27. 27. The Art of Focus on Customer Benefits Pitching • Technical benefits – Seamless integration – Scalable, adaptable and secure – Improves network performance • Business benefits – Increases revenue streams – Reduces risk – Cuts costs by 30% Go To Market Consulting 27
  28. 28. The Art of Pitching 5 Obey the 12/20 rule …about a dozen slides in twenty minutes Go To Market Consulting 28
  29. 29. The Art of Use About a Dozen Slides! Pitching 1: Title 2: Company 3: Players, Problem 4: Pain Killer   & Pain (i.e. Solution) Title; speaker Company Market definition; Our value intro & contact overview; w/ (get problem & proposition; “so info; kick-off elevator pitch or pain buy-in); what” benefits; tag line mission stmt market size ROI logic 5: Technologies 6: Competition 7: Biz Model 8: Go to Market Who else is doing Our “magic”; Here’s how we’ll Our marketing this? (Don’t forget intellectual make money plans & status quo & home property leverage points grown) 9: Metrics & Money 10: Team 11: Timelines & Status 12: Why Us? Success metrics Here’s who will To date (on Here is why you (biz drivers) & be responsible OPM); next “x” should invest in revenue/margin for our success; months; use of us projections maybe BoD too proceeds Go To Market Consulting 29
  30. 30. The Art of Use About a Dozen Slides! Pitching 1: Title 2: Company 3: Players, Problem 4: Pain Killer   & Pain (i.e. Solution) Title; speaker Company Market definition; Our value intro & contact overview; w/ (get problem & proposition; “so info; kick-off elevator pitch or pain buy-in); what” benefits; tag line mission stmt market size ROI logic 5: Technologies 6: Competition 7: Biz Model 8: Go to Market Who else is doing Our “magic”; Here’s how we’ll Our marketing this? (Don’t forget intellectual make money plans & status quo & home property leverage points grown) 9: Metrics & Money 10: Team 11: Timelines & Status 12: Why Us? Success metrics Here’s who will To date (on Here is why you (biz drivers) & be responsible OPM); next “x” should invest in revenue/margin for our success; months; use of us projections maybe BoD too proceeds Go To Market Consulting 30
  31. 31. The Art of Two Parts . . . Pitching Delivery How 50% Go To Market Consulting 31
  32. 32. The Art of Pitching 6 Change people’s pulse audience A bond B communicate C Go To Market Consulting 32
  33. 33. The Art Ask Relevant Questions of The answers will tell you what to stress! Pitching • What are the three most important things I could tell you about my company today? • What attracted you to my business plan? Do research up-front Go To Market Consulting 33
  34. 34. The Art Ask Relevant Questions of How will the VC help you? Pitching • Tell me about your last investment? • What was the last partnership you struck for one of your portfolio companies? • How will you help accelerate our success? Do research up-front Go To Market Consulting 34
  35. 35. The Art of Change People’s Pulse Pitching Pitch High Low Go To Market Consulting 35
  36. 36. The Art of Change People’s Pulse Pitching Pitch Volume High Loud Soft Low Go To Market Consulting 36
  37. 37. The Art of Change People’s Pulse Pitching Pitch Volume Speed Slow High Loud Soft Fast Low Fast Go To Market Consulting 37
  38. 38. The Art of Change People’s Pulse Pitching Pitch Volume Speed Slow High Loud Soft Fast Low Fast Go To Market Consulting 38
  39. 39. The Art of Pitching 7 Tell stories that sell • Passion • Energy Confidence. • Compelling Go To Market Consulting 39
  40. 40. The Art of Pitching 8 Get a transition • Ask a rhetorical question • Build upon last topic • Make a statement • Say “next” Go To Market Consulting 40
  41. 41. The Art of Pitching 9 Practice and integrate feedback …it shows either way Go To Market Consulting 41
  42. 42. The Art of Tips for Practicing Your Pitch Pitching • Use a timer • Videotape your team presentation Go To Market Consulting 42
  43. 43. TheTell Them… 1. Art of Expectation Setting …what you are going to tell ‘em Pitching 1: Title 2: Company 3: Players, Problem 4: Pain Killer   & Pain (i.e. Solution) 3. Tell Them… Title; speaker Company Market definition; Our value intro & contact overview; w/ (get problem &what you told “so proposition; them … info; kick-off elevator pitch or pain buy-in); what” benefits; tag line mission stmt market size ROI logic 5: Technologies 6: Competition 7: Biz Model 8: Go to Market Who else is doing Our “magic”; Here’s how we’ll Our marketing this? (Don’t forget intellectual make money plans & status quo & home property leverage points grown) 9: Metrics & Money 10: Team 11: Timelines & Status 12: Why Us? Success metrics Here’s who will To date (on Here is why you (biz drivers) & be responsible OPM); next “x” should invest in revenue/margin for our success; months; use of us projections maybe BoD too proceeds 2. Tell Them Go To Market Consulting 43
  44. 44. The Art of Pitching 10 Develop an “attitude” - never give up! Go To Market Consulting 44
  45. 45. The Art of Two Parts . . . Pitching Content Delivery 1 2 3 4 Problem Title; Company Your buy- in; Speaker intro; overview; solution Market Mission & What $ you size stmt benefits are after 5 6 7 8 Marketing More & Technologies Competition solution leverage details points 9 10 11 12 Status; Success Why Us? Timeline; metrics; Team Call-to- Use of Revenue action funds projections What How 50% 50% Go To Market Consulting 45
  46. 46. The Art of What’s the 10% that Matters? Pitching • If you just remember three things today: – 1. Begin at the end – 2. Be brief – 3. Change people’s pulse Go To Market Consulting 46
  47. 47. The Art of Perfecting Your Pitching Pitching 1. Begin with “The End” 2. Be Brief 3. Bait the Hook 4. Get High and Stay High 5. Obey the 12/20 Rule 6. Change People’s Pulse 7. Tell Stories that Sell 8. Get a Transition 9. Practice and Integrate Feedback 10. Develop an Attitude Go To Market Consulting 47
  48. 48. The Art of Want More? Pitching bill joos blog.com “Tips from the Trenches” Sales, Marketing, Business Plan and Equity Fundraising Insights Go To Market Consulting 48
  49. 49. The Art of Pitching Bill Joos Go To Market Consulting bill @ go to market consulting .com +1 650 799-5980 bill joos blog.com 49
  50. 50. te : ly N o le O n ta p Da xamonal E ti F ic ™ 1 X one Empowering Mobile Communication Groups Bob Johnston President and CEO rich @ xone.com 650-555-1212 Confidential and Proprietary
  51. 51. te : 1 ly N o le O n ta X one 30,000’ Overview p Da xamonal E ti F ic  Mantra: Empowering Mobile Communication Groups  Markets: Pervasive groups of associated individuals  Key IP: Proprietary and protectable 3G thin-client, server and location-based s/w technologies  Business Model: Profitable “$ per seat” ASP service model  Founders: Seasoned expert data comm entrepreneurs  Invested: Founders $xxxK -- and x years -- for validation of need, technology architecture, product design and proof of concept  Seeking: $ M to finalize products, capture dominate share in our initial market, and reach profitability within 18 months after funding Confidential and Proprietary 51
  52. 52. te : Business Model and 1 ly N o le O n ta X one p Da Go To Market xamonal E ti F ic  Carrier; >5,000,000 minimum Negotiated: xx¢/user/month  They want ARPU boosters   Large business; Bechtel-class client; >2,500 to 25,000 Negotiated: $x/token/month  Direct sale   Medium businesses; 250 to 2,500 $x/token/month  Carriers’ VARs / VADs with commission or revenue share   Small businesses; typically <250 tokens $x/token/month  Web self-serve  Confidential and Proprietary 52
  53. 53. te : 1 ly Driving Metrics N o le O n ta X one p Da xamonal and Revenues/Profits E ti F ic $96 Break even $ in M $46 $7 $.25 200x 200x 200x 200x Carrier 0 0 1 2 Large Bus. 0 28 60 88 # of businesses Medium Bus. 7 160 300 520 Small Bus. 5 140 320 440 Confidential and Proprietary 53
  54. 54. te : 1 ly N o le O n ta X one $x Million to . . . p Da xamonal E ti F ic Operations: launch, marketing & sales IP R&D Product Development Confidential and Proprietary 54
  55. 55. The Art of Pitching Bill Joos Go To Market Consulting bill @ go to market consulting .com +1 650 799-5980 bill joos blog.com 55

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