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No	
  one	
  knows	
  your	
  
product	
  be1er	
  than	
  you.	
  
 
	
  
1.  Storytelling	
  
 
	
  
	
  
	
  
	
  
	
  
	
  
	
  	
  	
  	
  	
  	
  	
  	
  
	
  
	
  	
  	
  	
  “I	
  want	
  to	
  know	
  more…”	
  
 	
  
What	
  kind	
  of	
  Pitch	
  are	
  you?	
  
From	
  www.investorpitches.com	
  
	
  
THE	
  DISTRUPTER	
  
THE	
  FOUNDER	
  
THE	
  DREAM	
  TEAM	
  
THE	
  DETECTIVE	
  
THE	
  EMANCIPATOR	
  
THE	
  PERFECT	
  WORLD	
  
1.  Storytelling	
  
2.  Story	
  Arc	
  
THE	
  STORY	
  ARC	
  
You	
  can’t	
  afford	
  a	
  bad	
  hire	
  
You	
  can’t	
  afford	
  a	
  bad	
  hire	
  
1.  Storytelling	
  
2.  Story	
  Arc	
  
3.  Timing	
  
May	
  2015	
   21	
  
Innova7on	
  &	
  Entrepreneur	
  MBA	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
  
(India)	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   22	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
What	
  You	
  Know	
  About	
  
Your	
  Business	
  
Elevator	
  pitch	
  
Product	
  features	
  &	
  benefits	
  
How	
  my	
  product	
  works	
  Really	
  big	
  market	
  size	
  numbers	
  
Really	
  impressive	
  
hockey	
  sbck	
  curves	
  
Who	
  we	
  are	
  
Our	
  ask	
  
Compebbon	
  (or	
  lack	
  of)	
  
and	
  amazing	
  differenbabon	
  
The	
  problems	
  we	
  solve	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   23	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
What	
  You	
  Know	
  About	
  
Your	
  Business	
  
Elevator	
  pitch	
  
Product	
  features	
  &	
  benefits	
  
How	
  my	
  product	
  works	
  Really	
  big	
  market	
  size	
  numbers	
  
Really	
  impressive	
  
hockey	
  sbck	
  curves	
  
Who	
  we	
  are	
  
Our	
  ask	
  
Compebbon	
  (or	
  lack	
  of)	
  
and	
  amazing	
  differenbabon	
  
The	
  problems	
  we	
  solve	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   24	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
	
  	
  	
  	
  	
  is	
  the	
  “story”	
  you	
  tell	
  that	
  will	
  
excite	
  an	
  investor	
  so	
  that	
  they	
  want	
  
to	
  learn	
  more?	
  
	
  
Baseline	
  Story	
  
(with	
  “accordion”	
  properbes)	
  
13	
  topics	
  
13-­‐16	
  slides	
  
12	
  minutes	
  (+/-­‐)	
  
Investable	
  Story	
  …	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
  
1	
  –	
  Introducbon	
  
2	
  –	
  Elevator	
  Pitch	
  
3	
  –	
  Problem	
  	
  
4	
  –	
  Problem	
  /	
  Market	
  Size	
  
5	
  –	
  Solubon	
  	
  
6	
  –	
  Why	
  Now	
  
7	
  –	
  Go	
  To	
  Market	
  (GTM)	
  
8	
  –	
  Compebbon	
  /	
  Differenbabon	
  
9	
  –	
  Revenue	
  Model	
  
10	
  –	
  Projecbons	
  
11	
  –	
  Team	
  	
  
12	
  –	
  Financing	
  to	
  Date	
  /	
  Ask	
  /	
  
Use	
  of	
  Proceeds	
  
13	
  –	
  Summary	
  	
  	
  
Get	
  
Interest	
  
Sell	
  
Close	
  	
  
or	
  	
  
Lose	
  
Provide	
  background	
  informabon	
  to	
  
capture	
  interest	
  
Convince	
  investors	
  that	
  your	
  idea	
  is	
  an	
  
invesbble	
  business;	
  you’re	
  selling	
  “the	
  
next	
  meebng”	
  
Round	
  out	
  your	
  GTM	
  plans	
  with	
  the	
  rest	
  
of	
  the	
  story;	
  here,	
  you	
  will	
  either	
  close	
  the	
  
next	
  meebng	
  or	
  lose	
  their	
  interest	
  
The	
  Artful	
  Science of	
  Pitching™	
  
Objecbve	
  of	
  Your	
  Pitch	
  
May	
  2015	
  
A1racbng,	
  negobabng	
  and	
  closing	
  
investment	
  is	
  a	
  process	
  
26	
  
The	
  Artful	
  Science of	
  Pitching™	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   27	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
1.	
  Title	
  page	
  
Investable	
  Story	
  
First	
  impressions	
  
count	
  
Introduce	
  your	
  
company,	
  yourself,	
  and	
  
why	
  you’re	
  pitching	
  P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   28	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
1.	
  Title	
  page	
  –	
  first	
  impressions!	
  
2.	
  Elevator	
  pitch	
  Investable	
  Story	
  
Keep	
  it	
  concise	
  	
  
(short	
  sentences,	
  watch	
  syllables)	
  
Be	
  clear	
  &	
  make	
  it	
  compelling	
  
	
  
Pracbce	
  PEGS:	
  
Have	
  them	
  ready	
  &	
  Prac7ced	
  	
  	
  
(them:	
  	
  15,	
  45,	
  90	
  seconds)	
  
Show	
  Energy	
  and	
  passion	
  
Goal-­‐target*	
  your	
  audience	
  
Tell	
  an	
  understandable	
  Story	
  	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   29	
  
Elevator	
  Pitch	
  –	
  Example	
  
O	
  	
  We	
  have	
  developed	
  an	
  opbmally-­‐sized,	
  	
  
open,	
  and	
  standards	
  compliant	
  	
  
operabng	
  system	
  for	
  the	
  class	
  A-­‐compabble	
  	
  
and	
  class	
  B	
  micro-­‐processor	
  units	
  	
  
found	
  in	
  low-­‐end	
  intelligent-­‐enabled	
  appliances.	
  
	
  
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   30	
  
Elevator	
  Pitch	
  –	
  Example	
  
O	
  	
  We	
  have	
  developed	
  an	
  opbmally-­‐sized,	
  	
  
open,	
  and	
  standards	
  compliant	
  	
  
operabng	
  system	
  for	
  the	
  class	
  A-­‐compabble	
  	
  
and	
  class	
  B	
  micro-­‐processor	
  units	
  	
  
found	
  in	
  low-­‐end	
  intelligent-­‐enabled	
  appliances.	
  
	
  
P	
  	
  I’m	
  Andy	
  Preneur,	
  founder	
  of	
  SmartCPU.	
  	
  We’ve	
  developed	
  a	
  
best-­‐in-­‐class	
  operabng	
  system	
  for	
  smart	
  devices	
  like	
  your	
  
toaster.	
  	
  We	
  cost	
  less	
  and	
  leave	
  more	
  room	
  for	
  the	
  apps	
  that	
  
make	
  your	
  toaster	
  smart.	
  We’re	
  proven	
  and	
  I	
  need	
  investment	
  
to	
  grow.	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   31	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
“Problem”	
  
Sets	
  Deeper	
  
Context	
  
Size	
  of	
  	
  
Problem	
  
	
  =	
  Business	
  	
  
Opportunity	
   Solubon	
  
Value	
  
Proposibon	
  
Go	
  To	
  
Market	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   32	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
If	
  your	
  aspirabon	
  	
  
is	
  bigger	
  than	
  your	
  current	
  focus,	
  	
  
show	
  both	
  
Bigger	
  focus	
  =	
  Business	
  potenbal	
  
Current	
  focus	
  =	
  investable	
  story	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   33	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Really	
  big	
  market	
  size	
  numbers	
  
	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   34	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Really	
  big	
  market	
  size	
  numbers	
  
	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   35	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Really	
  big	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
Investable	
  Story	
  
Defining	
  Market	
  Size	
  
	
  
It’s	
  less	
  about	
  large	
  numbers,	
  	
  
more	
  about	
  logic	
  and	
  reasonableness	
  
	
  
Link	
  it	
  to	
  the	
  problem	
  you	
  solve	
  
	
  
Top	
  down	
  analysis:	
  	
  	
  
check	
  census,	
  StatsCan,	
  US	
  Bureau	
  of	
  Labor	
  stats,	
  ...	
  
	
  
Bo1om	
  up	
  analysis:	
  	
  	
  
market	
  intelligence	
  research,	
  original	
  research,	
  …	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   36	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  	
  Product	
  features	
  &	
  benefits	
  
How	
  my	
  product	
  works	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   37	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  	
  Product	
  features	
  &	
  benefits	
  
How	
  my	
  product	
  works	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
	
  Product	
  value	
  proposibon	
  
Context:	
  	
  Your	
  product	
  is	
  one	
  FEATURE	
  of	
  
your	
  business!	
  
	
  IP*	
  
How	
  product	
  solves	
  the	
  problem	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   38	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
Investable	
  Story	
  
3rd	
  party	
  research	
  
Original	
  research	
  
Why	
  is	
  now	
  	
  
the	
  right	
  bme?	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   39	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
Investable	
  Story	
  
Everything	
  	
  
up	
  to	
  now	
  is	
  
background	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
Everything	
  	
  
ater	
  this	
  is	
  
closing	
  the	
  sale	
  
(aka	
  next	
  mtg)	
  
GTM	
  is	
  where	
  
you	
  are	
  	
  
selling	
  the	
  
“next	
  meebng”	
  
The	
  Artful	
  Science of	
  Pitching™	
  
VEGaS	
  
May	
  2015	
   40	
  
Validabon	
  
Entry	
  
Grow	
  
Scale	
  
bme	
  
$	
  
#	
  
etc	
  
Graphically	
  explains	
  your	
  Go	
  
To	
  Market	
  strategy	
  &	
  plan	
  
If	
  appropriate	
  dedicate	
  a	
  page	
  
to	
  a	
  stage	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   41	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
	
  IP*	
  Present	
  a	
  fair	
  
assessment	
  of	
  the	
  
compebbve	
  
landscape	
  and	
  your	
  
differenbabon	
  	
  
Never	
  assume	
  you	
  have	
  no	
  	
  
compebbon.	
  	
  Focus	
  on	
  what	
  	
  
makes	
  your	
  product	
  great.	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  (or	
  lack	
  of)	
  &	
  Differenbabon	
  
Amazing	
  differenbabon	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   42	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
9.	
  Really	
  impressive	
  hockey	
  sbck	
  curves	
  
	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   43	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
Really	
  impressive	
  hockey	
  sbck	
  curves	
  
9.	
  Pricing	
  /	
  revenue	
  model	
  
10.	
  Revenue	
  &	
  cost	
  curves	
  that	
  make	
  sense	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   44	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
Investable	
  Story	
  
9.	
  Revenue	
  model	
  
10.	
  Projecbons	
  	
  u	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
  
t0 t1
#1
#0
If	
  you	
  want	
  to	
  replicate	
  
someone	
  else’s	
  sales	
  
pa1ern,	
  check	
  how	
  
much	
  they	
  raised	
  to	
  
support	
  the	
  pa1ern!	
  
May	
  2015	
   45	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
Investable	
  Story	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
9.	
  Revenue	
  model	
  
10.	
  Projecbons	
  	
  u	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   46	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
9.	
  Pricing	
  /	
  revenue	
  model	
  
10.	
  Revenue	
  &	
  cost	
  curves	
  that	
  make	
  sense	
  
11.	
  Who	
  we	
  are	
  (credibility,	
  comfort)	
  
Investable	
  Story	
  
Relevant	
  experience	
  
Photos	
  
Advisors/Board	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
…and	
  
Gaps!	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   47	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
9.	
  Pricing	
  /	
  revenue	
  model	
  
10.	
  Revenue	
  &	
  cost	
  curves	
  that	
  make	
  sense	
  
11.	
  Who	
  we	
  are	
  (credibility,	
  comfort)	
  
12.	
  	
  Our	
  ask	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   48	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
9.	
  Pricing	
  /	
  revenue	
  model	
  
10.	
  Revenue	
  &	
  cost	
  curves	
  that	
  make	
  sense	
  
11.	
  Who	
  we	
  are	
  (credibility,	
  comfort)	
  
12.	
  Previous	
  funding,	
  our	
  ask,	
  	
  
use	
  of	
  proceeds	
  
Investable	
  Story	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   49	
  ©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
2.	
  Elevator	
  pitch	
  
3.	
  The	
  problems	
  we	
  solve	
  
4.	
  Market	
  size	
  numbers	
  that	
  make	
  sense	
  
5.	
  Our	
  product	
  …	
  and	
  why	
  people	
  will	
  buy	
  it	
  
6.	
  Why	
  Now?	
  
7.	
  How/when/where	
  we	
  will	
  sell	
  it	
  (“go	
  to	
  market”)	
  
8.	
  Compebbon	
  &	
  Differenbabon	
  
9.	
  Pricing	
  /	
  revenue	
  model	
  
10.	
  Revenue	
  &	
  cost	
  curves	
  that	
  make	
  sense	
  
11.	
  Who	
  we	
  are	
  (credibility,	
  comfort)	
  
12.	
  Previous	
  funding,	
  our	
  ask,	
  	
  
use	
  of	
  proceeds	
  
13.	
  Summary	
  
Investable	
  Story	
  
“The	
  3-­‐4	
  things	
  I	
  want	
  you	
  	
  
to	
  remember	
  from	
  my	
  pitch	
  are	
  …”	
  
P?	
  
??	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   50	
  
Title	
  Page	
  
Elevator	
  pitch	
  
Problem	
  We	
  Solve	
  
Size	
  of	
  Problem	
  
Product	
  /	
  Solubon	
  
Why	
  Now?	
  
Go	
  To	
  Market	
  
Compebbon	
  &	
  Differenbabon	
  
Revenue	
  Model	
  
Projecbons	
  
Team	
  
Financing	
  /	
  Ask	
  /	
  Use	
  of	
  Proceeds	
  
Summary	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
Pitch	
  Topics	
  and	
  
Flow	
  
12	
  minutes,	
  13-­‐16	
  slides	
  
P	
  
P	
  
What	
  investors	
  
need	
  to	
  know	
  	
  
from	
  your	
  pitch	
  
	
  
“Accordion”	
  Pitch	
  
	
  
Stretch	
  and	
  
Squeeze	
  as	
  
needed	
  
	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
   51	
  
Title	
  Page	
  
Elevator	
  pitch	
  
Problem	
  We	
  Solve	
  
Size	
  of	
  Problem	
  
Product	
  /	
  Solubon	
  
Why	
  Now?	
  
Go	
  To	
  Market	
  
Compebbon	
  &	
  Differenbabon	
  
Revenue	
  Model	
  
Projecbons	
  
Team	
  
Financing	
  /	
  Ask	
  /	
  Use	
  of	
  Funds	
  
Summary	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
Customer	
  
Relabonships	
  
Key	
  Partners	
  
Key	
  Acbvibes	
  
Channels	
  
Customer	
  Segments	
  
Revenue	
  
Streams	
  
Cost	
  Structure	
  
Key	
  Resources	
  
Mapping	
  to	
  Business	
  	
  
Model	
  Canvas	
  
Value	
  
Proposibons	
  
The	
  Artful	
  
Science 	
  
of	
  Pitching™	
  
The	
  Artful	
  Science of	
  Pitching™	
   October	
  2014	
   52	
  
Value	
  
Proposibon	
  
3	
  Problem	
  Solved	
  or	
  
Opportunity	
  Created	
  
7	
  Go	
  To	
  Market	
  
Cost	
  Structure	
  
9	
  Revenue	
  Model	
  
10	
  ProjecWons	
  
*	
  Key	
  Partners	
  
7	
  Go	
  To	
  Market	
  
	
  
	
  
	
  
†	
  Problem	
  	
  
3	
  Problem	
  Solved	
  or	
  
Opportunity	
  Created	
  
4	
  Market	
  Size	
  
	
  	
  
*	
  Key	
  
Acbvibes	
  
7	
  Go	
  To	
  Market	
  
	
  
†	
  Solubon	
  
3	
  SoluWon	
  /	
  Product	
   Customer	
  
Segments	
  
4	
  Market	
  Size	
  
7	
  Go	
  To	
  Market	
  *	
  Key	
  Resources	
  
11	
  Team	
  
12	
  Financing	
  to	
  Date,	
  
Ask,	
  Use	
  of	
  Proceeds	
  
	
  
†	
  Key	
  Metrics	
  
7	
  Go	
  To	
  Market	
  
10	
  ProjecWons	
  
Revenue	
  Streams	
  
9	
  Revenue	
  Model	
  
10	
  ProjecWons	
  
*	
  Customer	
  
Relabonships	
  
7	
  Go	
  To	
  Market	
  
	
  
†	
  Unfair	
  
Advantage	
  
11	
  CompeWWon	
  /	
  
DifferenWaWon	
  
Channels	
  
7	
  Go	
  To	
  Market	
  
	
  
*Green	
  is	
  Business	
  Model	
  Canvas	
  	
  	
  	
  	
  	
  	
  	
  	
  †Orange	
  is	
  Lean	
  Canvas	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Black	
  is	
  Both	
  
Small	
  text	
  is	
  where	
  Canvas	
  element	
  is	
  used	
  in	
  The	
  Ar^ul	
  Science	
  of	
  Pitching	
  framework	
  
Mapping	
  Aryul	
  Science	
  to	
  Business	
  Model	
  &	
  Lean	
  Canvas	
  
Business	
  
Model	
  
Canvas	
  
Lean	
  
Canvas	
  
(Alexander	
  Osterwalder	
  
&	
  Yves	
  Pigneur)	
  	
  
(Ash	
  Maurya)	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
  
Pitch	
   Framework	
   Common	
  Pitch	
  Risks	
  
Title	
  page	
   Intro	
  company,	
  you,	
  purpose	
  of	
  pitch	
   Poor	
  first	
  impression	
  
Elevator	
  pitch	
   15	
  second:	
  	
  establish	
  your	
  space	
   Not	
  crisp	
  /	
  isn’t	
  capbvabng	
  
Problem	
   “The	
  problem	
  we	
  solve	
  is	
  …”	
   Too	
  esoteric	
  /	
  not	
  focused	
  
Market	
  size	
   How	
  big	
  is	
  this	
  problem/opportunity?	
   Irrelevant	
  /	
  size	
  over	
  substance	
  
Solu7on	
   “The	
  way	
  we	
  fix	
  this	
  problem	
  is	
  …”	
   Delivered	
  like	
  a	
  product	
  sell	
  
Why	
  Now?	
   Why	
  is	
  now	
  the	
  right	
  bme?	
   Not	
  convincing	
  
Go	
  To	
  Market	
   How	
  you	
  will	
  build	
  the	
  business	
  …	
   Incomplete	
  /	
  not	
  defensible	
  
Compe77on/
Differen7a7on	
  
“We’re	
  be1er	
  because	
  …”	
   Not	
  convincing	
  /	
  incomplete	
  research	
  
Revenue	
  Model	
   “The	
  way	
  we	
  make	
  money	
  is	
  …”	
   Not	
  clear,	
  not	
  enough	
  margin	
  
Projec7ons	
   6-­‐8	
  quarters	
  +	
  2-­‐3	
  years	
   Unrealisbc	
  /	
  not	
  supported	
  
Team	
   Convey	
  credibility	
  …	
  admit	
  gaps	
   Incomplete	
  /	
  don’t	
  recognize	
  gaps	
  
Financing	
  /	
  Ask	
  /	
  UOP	
   Past	
  financing,	
  current	
  ask,	
  use	
  of	
  $	
   Incomplete	
  /	
  asking	
  for	
  too	
  much/li1le	
  
Summary	
   “The	
  3	
  things	
  to	
  remember	
  are	
  …”	
   Oten	
  not	
  done	
  
53	
  
The	
  Artful	
  Science of	
  Pitching™	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
  
Pitch	
   Framework	
   Common	
  Pitch	
  Risks	
  
Title	
  page	
   Intro	
  company,	
  you,	
  purpose	
  of	
  pitch	
   Poor	
  first	
  impression	
  
Elevator	
  pitch	
   15	
  second:	
  	
  establish	
  your	
  space	
   Not	
  crisp	
  /	
  isn’t	
  capbvabng	
   *
Problem	
   “The	
  problem	
  we	
  solve	
  is	
  …”	
   Too	
  esoteric	
  /	
  not	
  focused	
   *
Market	
  size	
   How	
  big	
  is	
  this	
  problem/opportunity?	
   Irrelevant	
  /	
  size	
  over	
  substance	
   *
Solu7on	
   “The	
  way	
  we	
  fix	
  this	
  problem	
  is	
  …”	
   Delivered	
  like	
  a	
  product	
  sell	
   *
Why	
  Now?	
   Why	
  is	
  now	
  the	
  right	
  bme?	
   Not	
  convincing	
  
Go	
  To	
  Market	
   How	
  you	
  will	
  build	
  the	
  business	
  …	
   Incomplete	
  /	
  not	
  defensible	
  
Compe77on/Differen7a7on	
   “We’re	
  be1er	
  because	
  …”	
   Not	
  convincing	
  /	
  incomplete	
  research	
  
Revenue	
  Model	
   “The	
  way	
  we	
  make	
  money	
  is	
  …”	
   Not	
  clear,	
  not	
  enough	
  margin	
  
Projec7ons	
   6-­‐8	
  quarters	
  +	
  2-­‐3	
  years	
   Unrealisbc	
  /	
  not	
  supported	
  
Team	
   Convey	
  credibility	
  …	
  admit	
  gaps	
   Incomplete	
  /	
  don’t	
  recognize	
  gaps	
  
Financing	
  /	
  Ask	
  /	
  UOP	
   Past	
  financing,	
  current	
  ask,	
  use	
  of	
  $	
   Incomplete	
  /	
  asking	
  for	
  too	
  much/li1le	
  
Summary	
   “The	
  3	
  things	
  to	
  remember	
  are	
  …”	
   Oten	
  not	
  done	
  
54	
  
The	
  Artful	
  Science of	
  Pitching™	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
  
Pitch	
   Framework	
   Common	
  Pitch	
  Risks	
  
Title	
  page	
   Intro	
  company,	
  you,	
  purpose	
  of	
  pitch	
   Poor	
  first	
  impression	
  
Elevator	
  pitch	
   15	
  second:	
  	
  establish	
  your	
  space	
   Not	
  crisp	
  /	
  isn’t	
  capbvabng	
  
Problem	
   “The	
  problem	
  we	
  solve	
  is	
  …”	
   Too	
  esoteric	
  /	
  not	
  focused	
  
Market	
  size	
   How	
  big	
  is	
  this	
  problem/opportunity?	
   Irrelevant	
  /	
  size	
  over	
  substance	
  
Solu7on	
   “The	
  way	
  we	
  fix	
  this	
  problem	
  is	
  …”	
   Delivered	
  like	
  a	
  product	
  sell	
  
Why	
  Now?	
   Why	
  is	
  now	
  the	
  right	
  bme?	
   Not	
  convincing	
  
Go	
  To	
  Market	
   How	
  you	
  will	
  build	
  the	
  business	
  …	
   Incomplete	
  /	
  not	
  defensible	
   *
Compe77on/Differen7a7on	
   “We’re	
  be1er	
  because	
  …”	
   Not	
  convincing	
  /	
  incomplete	
  research	
  
Revenue	
  Model	
   “The	
  way	
  we	
  make	
  money	
  is	
  …”	
   Not	
  clear,	
  not	
  enough	
  margin	
  
Projec7ons	
   6-­‐8	
  quarters	
  +	
  2-­‐3	
  years	
   Unrealisbc	
  /	
  not	
  supported	
   *
Team	
   Convey	
  credibility	
  …	
  admit	
  gaps	
   Incomplete	
  /	
  don’t	
  recognize	
  gaps	
  
Financing	
  /	
  Ask	
  /	
  UOP	
   Past	
  financing,	
  current	
  ask,	
  use	
  of	
  $	
   Incomplete	
  /	
  asking	
  for	
  too	
  much/li1le	
   *
Summary	
   “The	
  3	
  things	
  to	
  remember	
  are	
  …”	
   Oten	
  not	
  done	
  
55	
  
The	
  Artful	
  Science of	
  Pitching™	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
The	
  Artful	
  Science of	
  Pitching™	
   May	
  2015	
  
Pitch	
   Framework	
   Common	
  Pitch	
  Risks	
  
Title	
  page	
   Intro	
  company,	
  you,	
  purpose	
  of	
  pitch	
   Poor	
  first	
  impression	
  
Elevator	
  pitch	
   15	
  second:	
  	
  establish	
  your	
  space	
   Not	
  crisp	
  /	
  isn’t	
  capbvabng	
  
Problem	
   “The	
  problem	
  we	
  solve	
  is	
  …”	
   Too	
  esoteric	
  /	
  not	
  focused	
  
Market	
  size	
   How	
  big	
  is	
  this	
  problem/opportunity?	
   Irrelevant	
  /	
  size	
  over	
  substance	
   *
Solu7on	
   “The	
  way	
  we	
  fix	
  this	
  problem	
  is	
  …”	
   Delivered	
  like	
  a	
  product	
  sell	
  
Why	
  Now?	
   Why	
  is	
  now	
  the	
  right	
  bme?	
   Not	
  convincing	
  
Go	
  To	
  Market	
   How	
  you	
  will	
  build	
  the	
  business	
  …	
   Incomplete	
  /	
  not	
  defensible	
  
Compe77on/Differen7a7on	
   “We’re	
  be1er	
  because	
  …”	
   Not	
  convincing	
  /	
  incomplete	
  research	
  
Revenue	
  Model	
   “The	
  way	
  we	
  make	
  money	
  is	
  …”	
   Not	
  clear,	
  not	
  enough	
  margin	
  
Projec7ons	
   6-­‐8	
  quarters	
  +	
  2-­‐3	
  years	
   Unrealisbc	
  /	
  not	
  supported	
   *
Team	
   Convey	
  credibility	
  …	
  admit	
  gaps	
   Incomplete	
  /	
  don’t	
  recognize	
  gaps	
  
Financing	
  /	
  Ask	
  /	
  UOP	
   Past	
  financing,	
  current	
  ask,	
  use	
  of	
  $	
   Incomplete	
  /	
  asking	
  for	
  too	
  much/li1le	
  
Summary	
   “The	
  3	
  things	
  to	
  remember	
  are	
  …”	
   Oten	
  not	
  done	
  
56	
  
The	
  Artful	
  Science of	
  Pitching™	
  
©	
  2012-­‐2015	
  Frank	
  Erschen,	
  Inc.	
  	
  
MARKETING	
  PITCH	
  
•  Less	
  Jargon,	
  	
  
•  Grandma	
  can	
  understand,	
  	
  
•  Media,	
  	
  
•  About	
  the	
  company	
  and	
  product.	
  	
  
•  NO	
  ASK	
  
1.  Storytelling	
  
2.  Story	
  Arc	
  
3.  Timing	
  
4.  Audience	
  
Demo	
  Day	
  pitch	
  
1.  Storytelling	
  
2.  Story	
  Arc	
  
3.  Timing	
  
4.  Audience	
  
5.  Wri7ng	
  Process	
  
The	
  Artful	
  Science of	
  Pitching™	
  
	
  
	
  
WRITE	
  OUT	
  A	
  SCRIPT.	
  
The	
  Artful	
  Science of	
  Pitching™	
  
Logo/name	
  
1.  Storytelling	
  
2.  Story	
  Arc	
  
3.  Timing	
  
4.  Audience	
  
5.  Wribng	
  Process	
  
6.  Deck	
  Design	
  
The	
  Artful	
  Science of	
  Pitching™	
  
	
  
	
  This	
  is	
  a	
  12	
  pt	
  font	
  
The	
  Artful	
  Science of	
  Pitching™	
  
	
  
	
  
This	
  is	
  a	
  32	
  pt	
  font	
  
The	
  Artful	
  Science of	
  Pitching™	
  
	
  
	
  
This	
  is	
  a	
  72	
  pt	
  font	
  
The	
  Artful	
  Science of	
  Pitching™	
  
Create	
   Interesbng	
   Slides	
  
1.  Storytelling	
  
2.  Story	
  Arc	
  
3.  Timing	
  
4.  Audience	
  
5.  Wribng	
  Process	
  
6.  Deck	
  Design	
  
7.  Presenta7on	
  
The	
  Artful	
  Science of	
  Pitching™	
  
Look	
  good…	
  feel	
  good	
  
ENUNCIATE	
  
The	
  Artful	
  Science of	
  Pitching™	
  
	
  
	
  
Take	
  10	
  big	
  deep	
  breaths	
  
The	
  Artful	
  Science of	
  Pitching™	
  

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The Pitch - Entrepreneurship 101

  • 1.
  • 2.     No  one  knows  your   product  be1er  than  you.  
  • 4.
  • 5.
  • 7.                                        “I  want  to  know  more…”  
  • 8.     What  kind  of  Pitch  are  you?   From  www.investorpitches.com    
  • 15. 1.  Storytelling   2.  Story  Arc  
  • 17. You  can’t  afford  a  bad  hire  
  • 18. You  can’t  afford  a  bad  hire  
  • 19. 1.  Storytelling   2.  Story  Arc   3.  Timing  
  • 20.
  • 21. May  2015   21   Innova7on  &  Entrepreneur  MBA     The  Artful  Science of  Pitching™   (India)  
  • 22. The  Artful  Science of  Pitching™   May  2015   22  ©  2012-­‐2015  Frank  Erschen,  Inc.     What  investors   need  to  know     from  your  pitch   What  You  Know  About   Your  Business   Elevator  pitch   Product  features  &  benefits   How  my  product  works  Really  big  market  size  numbers   Really  impressive   hockey  sbck  curves   Who  we  are   Our  ask   Compebbon  (or  lack  of)   and  amazing  differenbabon   The  problems  we  solve  
  • 23. The  Artful  Science of  Pitching™   May  2015   23  ©  2012-­‐2015  Frank  Erschen,  Inc.     P?   ??   What  investors   need  to  know     from  your  pitch   What  You  Know  About   Your  Business   Elevator  pitch   Product  features  &  benefits   How  my  product  works  Really  big  market  size  numbers   Really  impressive   hockey  sbck  curves   Who  we  are   Our  ask   Compebbon  (or  lack  of)   and  amazing  differenbabon   The  problems  we  solve  
  • 24. The  Artful  Science of  Pitching™   May  2015   24  ©  2012-­‐2015  Frank  Erschen,  Inc.              is  the  “story”  you  tell  that  will   excite  an  investor  so  that  they  want   to  learn  more?     Baseline  Story   (with  “accordion”  properbes)   13  topics   13-­‐16  slides   12  minutes  (+/-­‐)   Investable  Story  …   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 25. The  Artful  Science of  Pitching™   1  –  Introducbon   2  –  Elevator  Pitch   3  –  Problem     4  –  Problem  /  Market  Size   5  –  Solubon     6  –  Why  Now   7  –  Go  To  Market  (GTM)   8  –  Compebbon  /  Differenbabon   9  –  Revenue  Model   10  –  Projecbons   11  –  Team     12  –  Financing  to  Date  /  Ask  /   Use  of  Proceeds   13  –  Summary       Get   Interest   Sell   Close     or     Lose   Provide  background  informabon  to   capture  interest   Convince  investors  that  your  idea  is  an   invesbble  business;  you’re  selling  “the   next  meebng”   Round  out  your  GTM  plans  with  the  rest   of  the  story;  here,  you  will  either  close  the   next  meebng  or  lose  their  interest  
  • 26. The  Artful  Science of  Pitching™   Objecbve  of  Your  Pitch   May  2015   A1racbng,  negobabng  and  closing   investment  is  a  process   26   The  Artful  Science of  Pitching™  
  • 27. The  Artful  Science of  Pitching™   May  2015   27  ©  2012-­‐2015  Frank  Erschen,  Inc.     1.  Title  page   Investable  Story   First  impressions   count   Introduce  your   company,  yourself,  and   why  you’re  pitching  P?   ??   What  investors   need  to  know     from  your  pitch  
  • 28. The  Artful  Science of  Pitching™   May  2015   28  ©  2012-­‐2015  Frank  Erschen,  Inc.     1.  Title  page  –  first  impressions!   2.  Elevator  pitch  Investable  Story   Keep  it  concise     (short  sentences,  watch  syllables)   Be  clear  &  make  it  compelling     Pracbce  PEGS:   Have  them  ready  &  Prac7ced       (them:    15,  45,  90  seconds)   Show  Energy  and  passion   Goal-­‐target*  your  audience   Tell  an  understandable  Story     P?   ??   What  investors   need  to  know     from  your  pitch  
  • 29. The  Artful  Science of  Pitching™   May  2015   29   Elevator  Pitch  –  Example   O    We  have  developed  an  opbmally-­‐sized,     open,  and  standards  compliant     operabng  system  for  the  class  A-­‐compabble     and  class  B  micro-­‐processor  units     found  in  low-­‐end  intelligent-­‐enabled  appliances.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 30. The  Artful  Science of  Pitching™   May  2015   30   Elevator  Pitch  –  Example   O    We  have  developed  an  opbmally-­‐sized,     open,  and  standards  compliant     operabng  system  for  the  class  A-­‐compabble     and  class  B  micro-­‐processor  units     found  in  low-­‐end  intelligent-­‐enabled  appliances.     P    I’m  Andy  Preneur,  founder  of  SmartCPU.    We’ve  developed  a   best-­‐in-­‐class  operabng  system  for  smart  devices  like  your   toaster.    We  cost  less  and  leave  more  room  for  the  apps  that   make  your  toaster  smart.  We’re  proven  and  I  need  investment   to  grow.   ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 31. The  Artful  Science of  Pitching™   May  2015   31  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve  Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch   “Problem”   Sets  Deeper   Context   Size  of     Problem    =  Business     Opportunity   Solubon   Value   Proposibon   Go  To   Market  
  • 32. The  Artful  Science of  Pitching™   May  2015   32  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve  Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch   If  your  aspirabon     is  bigger  than  your  current  focus,     show  both   Bigger  focus  =  Business  potenbal   Current  focus  =  investable  story  
  • 33. The  Artful  Science of  Pitching™   May  2015   33  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Really  big  market  size  numbers     Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 34. The  Artful  Science of  Pitching™   May  2015   34  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Really  big  market  size  numbers     Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 35. The  Artful  Science of  Pitching™   May  2015   35  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Really  big  Market  size  numbers  that  make  sense   Investable  Story   Defining  Market  Size     It’s  less  about  large  numbers,     more  about  logic  and  reasonableness     Link  it  to  the  problem  you  solve     Top  down  analysis:       check  census,  StatsCan,  US  Bureau  of  Labor  stats,  ...     Bo1om  up  analysis:       market  intelligence  research,  original  research,  …   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 36. The  Artful  Science of  Pitching™   May  2015   36  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.    Product  features  &  benefits   How  my  product  works   Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 37. The  Artful  Science of  Pitching™   May  2015   37  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.    Product  features  &  benefits   How  my  product  works   5.  Our  product  …  and  why  people  will  buy  it   Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch    Product  value  proposibon   Context:    Your  product  is  one  FEATURE  of   your  business!    IP*   How  product  solves  the  problem  
  • 38. The  Artful  Science of  Pitching™   May  2015   38  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   Investable  Story   3rd  party  research   Original  research   Why  is  now     the  right  bme?   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 39. The  Artful  Science of  Pitching™   May  2015   39  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   Investable  Story   Everything     up  to  now  is   background   P?   ??   What  investors   need  to  know     from  your  pitch   Everything     ater  this  is   closing  the  sale   (aka  next  mtg)   GTM  is  where   you  are     selling  the   “next  meebng”  
  • 40. The  Artful  Science of  Pitching™   VEGaS   May  2015   40   Validabon   Entry   Grow   Scale   bme   $   #   etc   Graphically  explains  your  Go   To  Market  strategy  &  plan   If  appropriate  dedicate  a  page   to  a  stage   ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 41. The  Artful  Science of  Pitching™   May  2015   41  ©  2012-­‐2015  Frank  Erschen,  Inc.     Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch    IP*  Present  a  fair   assessment  of  the   compebbve   landscape  and  your   differenbabon     Never  assume  you  have  no     compebbon.    Focus  on  what     makes  your  product  great.   2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  (or  lack  of)  &  Differenbabon   Amazing  differenbabon  
  • 42. The  Artful  Science of  Pitching™   May  2015   42  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   9.  Really  impressive  hockey  sbck  curves     Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 43. The  Artful  Science of  Pitching™   May  2015   43  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   Really  impressive  hockey  sbck  curves   9.  Pricing  /  revenue  model   10.  Revenue  &  cost  curves  that  make  sense   Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 44. The  Artful  Science of  Pitching™   May  2015   44  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   Investable  Story   9.  Revenue  model   10.  Projecbons    u   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 45. The  Artful  Science of  Pitching™   t0 t1 #1 #0 If  you  want  to  replicate   someone  else’s  sales   pa1ern,  check  how   much  they  raised  to   support  the  pa1ern!   May  2015   45  ©  2012-­‐2015  Frank  Erschen,  Inc.     Investable  Story   2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   P?   ??   What  investors   need  to  know     from  your  pitch   9.  Revenue  model   10.  Projecbons    u  
  • 46. The  Artful  Science of  Pitching™   May  2015   46  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   9.  Pricing  /  revenue  model   10.  Revenue  &  cost  curves  that  make  sense   11.  Who  we  are  (credibility,  comfort)   Investable  Story   Relevant  experience   Photos   Advisors/Board   P?   ??   What  investors   need  to  know     from  your  pitch   …and   Gaps!  
  • 47. The  Artful  Science of  Pitching™   May  2015   47  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   9.  Pricing  /  revenue  model   10.  Revenue  &  cost  curves  that  make  sense   11.  Who  we  are  (credibility,  comfort)   12.    Our  ask   Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 48. The  Artful  Science of  Pitching™   May  2015   48  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   9.  Pricing  /  revenue  model   10.  Revenue  &  cost  curves  that  make  sense   11.  Who  we  are  (credibility,  comfort)   12.  Previous  funding,  our  ask,     use  of  proceeds   Investable  Story   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 49. The  Artful  Science of  Pitching™   May  2015   49  ©  2012-­‐2015  Frank  Erschen,  Inc.     2.  Elevator  pitch   3.  The  problems  we  solve   4.  Market  size  numbers  that  make  sense   5.  Our  product  …  and  why  people  will  buy  it   6.  Why  Now?   7.  How/when/where  we  will  sell  it  (“go  to  market”)   8.  Compebbon  &  Differenbabon   9.  Pricing  /  revenue  model   10.  Revenue  &  cost  curves  that  make  sense   11.  Who  we  are  (credibility,  comfort)   12.  Previous  funding,  our  ask,     use  of  proceeds   13.  Summary   Investable  Story   “The  3-­‐4  things  I  want  you     to  remember  from  my  pitch  are  …”   P?   ??   What  investors   need  to  know     from  your  pitch  
  • 50. The  Artful  Science of  Pitching™   May  2015   50   Title  Page   Elevator  pitch   Problem  We  Solve   Size  of  Problem   Product  /  Solubon   Why  Now?   Go  To  Market   Compebbon  &  Differenbabon   Revenue  Model   Projecbons   Team   Financing  /  Ask  /  Use  of  Proceeds   Summary   ©  2012-­‐2015  Frank  Erschen,  Inc.     Pitch  Topics  and   Flow   12  minutes,  13-­‐16  slides   P   P   What  investors   need  to  know     from  your  pitch     “Accordion”  Pitch     Stretch  and   Squeeze  as   needed    
  • 51. The  Artful  Science of  Pitching™   May  2015   51   Title  Page   Elevator  pitch   Problem  We  Solve   Size  of  Problem   Product  /  Solubon   Why  Now?   Go  To  Market   Compebbon  &  Differenbabon   Revenue  Model   Projecbons   Team   Financing  /  Ask  /  Use  of  Funds   Summary   ©  2012-­‐2015  Frank  Erschen,  Inc.     Customer   Relabonships   Key  Partners   Key  Acbvibes   Channels   Customer  Segments   Revenue   Streams   Cost  Structure   Key  Resources   Mapping  to  Business     Model  Canvas   Value   Proposibons   The  Artful   Science   of  Pitching™  
  • 52. The  Artful  Science of  Pitching™   October  2014   52   Value   Proposibon   3  Problem  Solved  or   Opportunity  Created   7  Go  To  Market   Cost  Structure   9  Revenue  Model   10  ProjecWons   *  Key  Partners   7  Go  To  Market         †  Problem     3  Problem  Solved  or   Opportunity  Created   4  Market  Size       *  Key   Acbvibes   7  Go  To  Market     †  Solubon   3  SoluWon  /  Product   Customer   Segments   4  Market  Size   7  Go  To  Market  *  Key  Resources   11  Team   12  Financing  to  Date,   Ask,  Use  of  Proceeds     †  Key  Metrics   7  Go  To  Market   10  ProjecWons   Revenue  Streams   9  Revenue  Model   10  ProjecWons   *  Customer   Relabonships   7  Go  To  Market     †  Unfair   Advantage   11  CompeWWon  /   DifferenWaWon   Channels   7  Go  To  Market     *Green  is  Business  Model  Canvas                  †Orange  is  Lean  Canvas                      Black  is  Both   Small  text  is  where  Canvas  element  is  used  in  The  Ar^ul  Science  of  Pitching  framework   Mapping  Aryul  Science  to  Business  Model  &  Lean  Canvas   Business   Model   Canvas   Lean   Canvas   (Alexander  Osterwalder   &  Yves  Pigneur)     (Ash  Maurya)    
  • 53. The  Artful  Science of  Pitching™   May  2015   Pitch   Framework   Common  Pitch  Risks   Title  page   Intro  company,  you,  purpose  of  pitch   Poor  first  impression   Elevator  pitch   15  second:    establish  your  space   Not  crisp  /  isn’t  capbvabng   Problem   “The  problem  we  solve  is  …”   Too  esoteric  /  not  focused   Market  size   How  big  is  this  problem/opportunity?   Irrelevant  /  size  over  substance   Solu7on   “The  way  we  fix  this  problem  is  …”   Delivered  like  a  product  sell   Why  Now?   Why  is  now  the  right  bme?   Not  convincing   Go  To  Market   How  you  will  build  the  business  …   Incomplete  /  not  defensible   Compe77on/ Differen7a7on   “We’re  be1er  because  …”   Not  convincing  /  incomplete  research   Revenue  Model   “The  way  we  make  money  is  …”   Not  clear,  not  enough  margin   Projec7ons   6-­‐8  quarters  +  2-­‐3  years   Unrealisbc  /  not  supported   Team   Convey  credibility  …  admit  gaps   Incomplete  /  don’t  recognize  gaps   Financing  /  Ask  /  UOP   Past  financing,  current  ask,  use  of  $   Incomplete  /  asking  for  too  much/li1le   Summary   “The  3  things  to  remember  are  …”   Oten  not  done   53   The  Artful  Science of  Pitching™   ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 54. The  Artful  Science of  Pitching™   May  2015   Pitch   Framework   Common  Pitch  Risks   Title  page   Intro  company,  you,  purpose  of  pitch   Poor  first  impression   Elevator  pitch   15  second:    establish  your  space   Not  crisp  /  isn’t  capbvabng   * Problem   “The  problem  we  solve  is  …”   Too  esoteric  /  not  focused   * Market  size   How  big  is  this  problem/opportunity?   Irrelevant  /  size  over  substance   * Solu7on   “The  way  we  fix  this  problem  is  …”   Delivered  like  a  product  sell   * Why  Now?   Why  is  now  the  right  bme?   Not  convincing   Go  To  Market   How  you  will  build  the  business  …   Incomplete  /  not  defensible   Compe77on/Differen7a7on   “We’re  be1er  because  …”   Not  convincing  /  incomplete  research   Revenue  Model   “The  way  we  make  money  is  …”   Not  clear,  not  enough  margin   Projec7ons   6-­‐8  quarters  +  2-­‐3  years   Unrealisbc  /  not  supported   Team   Convey  credibility  …  admit  gaps   Incomplete  /  don’t  recognize  gaps   Financing  /  Ask  /  UOP   Past  financing,  current  ask,  use  of  $   Incomplete  /  asking  for  too  much/li1le   Summary   “The  3  things  to  remember  are  …”   Oten  not  done   54   The  Artful  Science of  Pitching™   ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 55. The  Artful  Science of  Pitching™   May  2015   Pitch   Framework   Common  Pitch  Risks   Title  page   Intro  company,  you,  purpose  of  pitch   Poor  first  impression   Elevator  pitch   15  second:    establish  your  space   Not  crisp  /  isn’t  capbvabng   Problem   “The  problem  we  solve  is  …”   Too  esoteric  /  not  focused   Market  size   How  big  is  this  problem/opportunity?   Irrelevant  /  size  over  substance   Solu7on   “The  way  we  fix  this  problem  is  …”   Delivered  like  a  product  sell   Why  Now?   Why  is  now  the  right  bme?   Not  convincing   Go  To  Market   How  you  will  build  the  business  …   Incomplete  /  not  defensible   * Compe77on/Differen7a7on   “We’re  be1er  because  …”   Not  convincing  /  incomplete  research   Revenue  Model   “The  way  we  make  money  is  …”   Not  clear,  not  enough  margin   Projec7ons   6-­‐8  quarters  +  2-­‐3  years   Unrealisbc  /  not  supported   * Team   Convey  credibility  …  admit  gaps   Incomplete  /  don’t  recognize  gaps   Financing  /  Ask  /  UOP   Past  financing,  current  ask,  use  of  $   Incomplete  /  asking  for  too  much/li1le   * Summary   “The  3  things  to  remember  are  …”   Oten  not  done   55   The  Artful  Science of  Pitching™   ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 56. The  Artful  Science of  Pitching™   May  2015   Pitch   Framework   Common  Pitch  Risks   Title  page   Intro  company,  you,  purpose  of  pitch   Poor  first  impression   Elevator  pitch   15  second:    establish  your  space   Not  crisp  /  isn’t  capbvabng   Problem   “The  problem  we  solve  is  …”   Too  esoteric  /  not  focused   Market  size   How  big  is  this  problem/opportunity?   Irrelevant  /  size  over  substance   * Solu7on   “The  way  we  fix  this  problem  is  …”   Delivered  like  a  product  sell   Why  Now?   Why  is  now  the  right  bme?   Not  convincing   Go  To  Market   How  you  will  build  the  business  …   Incomplete  /  not  defensible   Compe77on/Differen7a7on   “We’re  be1er  because  …”   Not  convincing  /  incomplete  research   Revenue  Model   “The  way  we  make  money  is  …”   Not  clear,  not  enough  margin   Projec7ons   6-­‐8  quarters  +  2-­‐3  years   Unrealisbc  /  not  supported   * Team   Convey  credibility  …  admit  gaps   Incomplete  /  don’t  recognize  gaps   Financing  /  Ask  /  UOP   Past  financing,  current  ask,  use  of  $   Incomplete  /  asking  for  too  much/li1le   Summary   “The  3  things  to  remember  are  …”   Oten  not  done   56   The  Artful  Science of  Pitching™   ©  2012-­‐2015  Frank  Erschen,  Inc.    
  • 57.
  • 58. MARKETING  PITCH   •  Less  Jargon,     •  Grandma  can  understand,     •  Media,     •  About  the  company  and  product.     •  NO  ASK  
  • 59. 1.  Storytelling   2.  Story  Arc   3.  Timing   4.  Audience  
  • 60.
  • 62.
  • 63. 1.  Storytelling   2.  Story  Arc   3.  Timing   4.  Audience   5.  Wri7ng  Process  
  • 64.
  • 65. The  Artful  Science of  Pitching™       WRITE  OUT  A  SCRIPT.  
  • 66. The  Artful  Science of  Pitching™   Logo/name  
  • 67. 1.  Storytelling   2.  Story  Arc   3.  Timing   4.  Audience   5.  Wribng  Process   6.  Deck  Design  
  • 68. The  Artful  Science of  Pitching™      This  is  a  12  pt  font  
  • 69. The  Artful  Science of  Pitching™       This  is  a  32  pt  font  
  • 70. The  Artful  Science of  Pitching™       This  is  a  72  pt  font  
  • 71. The  Artful  Science of  Pitching™   Create   Interesbng   Slides  
  • 72. 1.  Storytelling   2.  Story  Arc   3.  Timing   4.  Audience   5.  Wribng  Process   6.  Deck  Design   7.  Presenta7on  
  • 73.
  • 74. The  Artful  Science of  Pitching™   Look  good…  feel  good  
  • 75.
  • 77. The  Artful  Science of  Pitching™       Take  10  big  deep  breaths  
  • 78. The  Artful  Science of  Pitching™