This document provides guidance on creating an effective 2-minute elevator pitch to sell a new idea or product. It recommends including five key elements: 1) Problem Solved - describing the problem and how the product solves it in 1 sentence, 2) High Concept Pitch - conveying what the product is through a category and unique attributes, 3) Unfair Advantage - why the founder/team is well-suited to execute, 4) Proof - examples of traction or success to date, 5) The Ask - a clear call to action. The document also identifies common pitch mistakes like being too vague or embellishing claims, and provides prompts to help generate pitch content and structure the presentation using contrast to engage the listener.
Pitch deck tips for startups looking to raise funding (also advice for presenting in MassChallenge Rounds 2 and 3)
Presented by Stacie Andrews, CTO of ProvadoMarketing.com (also happens to be a Masschallenge 2010 finalist of a high-tech company launching soon)
Co-contributor of this presentation: Christopher Mirabile, Investor and Adviser, Managing Director at LaunchPad Venture Group LLC
This deck draws from a lecture I give on the art of pitch decks -- the who, what, how, and why of crafting your messaging and assembling your deck.
Many thanks to Dave McClure (500 Startups), Ryan Spoon (Polaris Ventures), and the trial and error of the Tigerlabs portfolio for assisting me in assembling this deck.
Questions? Complaints? Bones to pick? Shoot me an e-mail at james@tigerlabs.co
http://rampupweekend.com/ramp-up-weekend-pitch-deck
Learn how to make a killer pitch deck for the ramp up weekend event. A strong pitch deck example by the Stu Clark Centre for Entrepreneurship at the University of Manitoba
So you got an idea. How do you make it into a business? You need to make a startup, search for a business model, find customers and scale. This talk briefly talks about where to go next
7 Fatal Pitch Deck Mistakes Scaring Away Investors - Don't Be A Little PitchBryce North
Ahh…rejected pitch decks. Having a hard time attracting investors or not sure how to get their attention? Don't waste another minute building investment presentations that are doomed to fail! This presentation is for anyone who has spent hours chasing investors that never close.
Find more great resources here --> www.dontbealittlepitch.com
For many of us, the feeling of inevitable doom when we start writing our investment strategy can be overwhelming. Just how much effort should we put into creating something that might just get shut down? Or worse, ignored. It all feels so defeating and before you know it, you are quickly running out of cash. Major heartburn.
Check out our successful pitch deck master class: https://www.dontbealittlepitch.com/pitch-deck-master-course
Top Tips and Tricks for creating a Kick Ass Pitch DeckEllena Ophira
Creating a Pitch Deck is fundamentally important when raising Investment. But where do you start? It can be an overwhelming challenge, but in this presentation Ellena, the CEO and Founder of smart WedTech Startup Weddingly, will give you 10 easy to follow steps to create a kick ass Pitch Deck, that hits all the key points and leaves a lasting impression.
Presentation includes:
Template ideas
Layout options and examples from leading businesses
Fundamentals to include
Top Tips from her own funding journey
Plus, some extra tools that will help you with your funding process
Good luck!
Pitch deck tips for startups looking to raise funding (also advice for presenting in MassChallenge Rounds 2 and 3)
Presented by Stacie Andrews, CTO of ProvadoMarketing.com (also happens to be a Masschallenge 2010 finalist of a high-tech company launching soon)
Co-contributor of this presentation: Christopher Mirabile, Investor and Adviser, Managing Director at LaunchPad Venture Group LLC
This deck draws from a lecture I give on the art of pitch decks -- the who, what, how, and why of crafting your messaging and assembling your deck.
Many thanks to Dave McClure (500 Startups), Ryan Spoon (Polaris Ventures), and the trial and error of the Tigerlabs portfolio for assisting me in assembling this deck.
Questions? Complaints? Bones to pick? Shoot me an e-mail at james@tigerlabs.co
http://rampupweekend.com/ramp-up-weekend-pitch-deck
Learn how to make a killer pitch deck for the ramp up weekend event. A strong pitch deck example by the Stu Clark Centre for Entrepreneurship at the University of Manitoba
So you got an idea. How do you make it into a business? You need to make a startup, search for a business model, find customers and scale. This talk briefly talks about where to go next
7 Fatal Pitch Deck Mistakes Scaring Away Investors - Don't Be A Little PitchBryce North
Ahh…rejected pitch decks. Having a hard time attracting investors or not sure how to get their attention? Don't waste another minute building investment presentations that are doomed to fail! This presentation is for anyone who has spent hours chasing investors that never close.
Find more great resources here --> www.dontbealittlepitch.com
For many of us, the feeling of inevitable doom when we start writing our investment strategy can be overwhelming. Just how much effort should we put into creating something that might just get shut down? Or worse, ignored. It all feels so defeating and before you know it, you are quickly running out of cash. Major heartburn.
Check out our successful pitch deck master class: https://www.dontbealittlepitch.com/pitch-deck-master-course
Top Tips and Tricks for creating a Kick Ass Pitch DeckEllena Ophira
Creating a Pitch Deck is fundamentally important when raising Investment. But where do you start? It can be an overwhelming challenge, but in this presentation Ellena, the CEO and Founder of smart WedTech Startup Weddingly, will give you 10 easy to follow steps to create a kick ass Pitch Deck, that hits all the key points and leaves a lasting impression.
Presentation includes:
Template ideas
Layout options and examples from leading businesses
Fundamentals to include
Top Tips from her own funding journey
Plus, some extra tools that will help you with your funding process
Good luck!
How investors evaluate the startups they invest in - the qualities you'll need to display to score investment, including you, your team, market, startup, traction, financials, investment terms, other investors, etc
Got a great idea,.. good. Now the work begins to turn it into a business! This is the workshop we run for aspiring entrepreneurs seeking to commercialise their idea!
If you're based in Pakistan, what the best way to raise local funding? With over 7 years of experience in running startups, Nash explains the best way forward.
Slides I created for Pitch Deck seminar I gave at Samurai Startup Island in Tokyo, October 7, 2015, to help entrepreneurs craft a presentation to tell the story of their startup clearly and persuasively.
It is a given that we will all exit our business at some point - willingly or not! - and it is never to soon to start planning that exit.
There is a link at the end of this deck to the associated blog and webinar recording
How to make an investor pitch deck that really worksDeck Rooster
In sales, a well established principle is, before one starts pitching to a customer, one should listen to what the customer has to say. That is because if you listen carefully he will lay out his needs in front of you, letting you present your solution in a way that fits into his needs perfectly.
The principle should be equally useful while pitching to an investor while raising funds. I can’t see a reason why it won’t be. But no one seems to be suggesting “you should listen more and talk less during an investor pitch”. Probably it is assumed that we already know what investors look for in a business. Is it a rockstar team; or may be a huge market size or is it traction or a break-through technology? Or may be different investors look for different combination of those things.
Actually all of those are means towards an end. They help investors figure out something more specific and quantitative that all investors look for in a startup before investing. But what is it?
A 10x return on their investment. That is it.
That number may vary from an early stage investor to a growth stage one, but you get the point, right? Not everyone says it out loud, because it makes them look money hungry, but that is what an investor business is all about.
But, now with that knowledge, how do you tweak your pitch and your pitch deck to make an investor feel that you are offering him an investment opportunity that could deliver a 10x return? And more importantly, can your business even deliver 10x return?
The above presentation by Deck Rooster answers those questions and offers a structure (not a template) for an investor pitch deck for startups. Check it out.
Ketrampilan menjual itu merupakan modal bagi seorang entrepreneur. Memang ada orang yang merasa tidak memiliki bakat menjual, namun itu bukan alasan untuk tidak bisa melakukan proses selling. Jenu Widjaja Tandjung, M.M., CPM (AP), memberi tips untuk meningkatkan kemampuan menjual. Simak video kuliahnya ini yang dibawakan kepada mahasiswa entrepreneurship semester 1 Universitas Ciputra, 12 September 2012.
How investors evaluate the startups they invest in - the qualities you'll need to display to score investment, including you, your team, market, startup, traction, financials, investment terms, other investors, etc
Got a great idea,.. good. Now the work begins to turn it into a business! This is the workshop we run for aspiring entrepreneurs seeking to commercialise their idea!
If you're based in Pakistan, what the best way to raise local funding? With over 7 years of experience in running startups, Nash explains the best way forward.
Slides I created for Pitch Deck seminar I gave at Samurai Startup Island in Tokyo, October 7, 2015, to help entrepreneurs craft a presentation to tell the story of their startup clearly and persuasively.
It is a given that we will all exit our business at some point - willingly or not! - and it is never to soon to start planning that exit.
There is a link at the end of this deck to the associated blog and webinar recording
How to make an investor pitch deck that really worksDeck Rooster
In sales, a well established principle is, before one starts pitching to a customer, one should listen to what the customer has to say. That is because if you listen carefully he will lay out his needs in front of you, letting you present your solution in a way that fits into his needs perfectly.
The principle should be equally useful while pitching to an investor while raising funds. I can’t see a reason why it won’t be. But no one seems to be suggesting “you should listen more and talk less during an investor pitch”. Probably it is assumed that we already know what investors look for in a business. Is it a rockstar team; or may be a huge market size or is it traction or a break-through technology? Or may be different investors look for different combination of those things.
Actually all of those are means towards an end. They help investors figure out something more specific and quantitative that all investors look for in a startup before investing. But what is it?
A 10x return on their investment. That is it.
That number may vary from an early stage investor to a growth stage one, but you get the point, right? Not everyone says it out loud, because it makes them look money hungry, but that is what an investor business is all about.
But, now with that knowledge, how do you tweak your pitch and your pitch deck to make an investor feel that you are offering him an investment opportunity that could deliver a 10x return? And more importantly, can your business even deliver 10x return?
The above presentation by Deck Rooster answers those questions and offers a structure (not a template) for an investor pitch deck for startups. Check it out.
Ketrampilan menjual itu merupakan modal bagi seorang entrepreneur. Memang ada orang yang merasa tidak memiliki bakat menjual, namun itu bukan alasan untuk tidak bisa melakukan proses selling. Jenu Widjaja Tandjung, M.M., CPM (AP), memberi tips untuk meningkatkan kemampuan menjual. Simak video kuliahnya ini yang dibawakan kepada mahasiswa entrepreneurship semester 1 Universitas Ciputra, 12 September 2012.
How do you convince people they need content strategy? Karen has been persuading organizations they need it since 1998. In this session, she'll discuss different approaches for talking about content strategy with people who have never heard of it and don't know why they should care. You'll leave with techniques you can use to evangelize the importance of content in your company or agency.
Ruby, JavaScript, Scrum, Node.js -- Does this sound like a foreign language to you?
After a successful kick-off with MSx Alum and XSeed Partner, Alan Chiu, the Tech 4 Non-Tech Series continues with Tech Speak. Join Alex De Simone (MS Mech Eng '11, MBA '16, Co-Founder of Jobr & Caller Zen) in an interactive session that will have you talking tech intelligently!
Jenny will demystify the funding process by discussing how much to raise and from whom. She will also speak about how best to tell your story to VCs, among other tips.
Q&A will be taken throughout the presentation.
In this workshop, Jeff Faust, CVA will discuss how to prepare for a valuation as a startup, as well as commonly used valuation methods in various domains, including venture capital.
Jeff will take Q&A throughout the presentation.
If you attended Parts I & II of our series, you've probably figured out who you need on your team and how to talk intelligently to them. Now you need to find some engineers who will work with you. Come hear Alan Chiu (GSB MSx '11, Partner @ XSeed) talk about the engineer's perspective - what gets them excited? What do they look for in teams or founders? Alan will also talk to Bhaskar about how he's developed his relationship with the business team, what he and his engineers look for, and what their most common pet peeves are (in terms of behaviors from business colleagues).
Lindy will examine how to build the dream startup team and will talk about how differences in individuals’ backgrounds, values, personalities, and work styles may all affect how team members interact and perform. Understanding how to ideally compose your team across these differences, how to structure and guide your team to extract value from this diversity, and how to avoid the potential downfalls will be the focus of this session.
Incorporation Stage Issues and Seed Financings Overview w/ Kristine Di BaccoStanford Venture Studio
Which legal entity is best for your startup company? How should you deal with founder stock and other incorporation issues? How should you structure a seed investment? Kristine Di Bacco, Partner at Fenwick & West, will help you answer these important questions, and others, as you think about the process of incorporating and raising seed financing.
Research shows that working in groups produces more creative work than working alone. But have you ever been in a group where the team dynamics unraveled into chaos and frustration? Where group members were talking over each other, and the loudest idea – not the best idea – won? In this class, we will teach you a better way. We will teach you how to use pen and paper to get people on the same page in a faster, more fun, and more inclusive way. We will help you build the mindset that drawing is a process, not an outcome, and a powerful tool for ideation, prototyping, and communication.
Using both analog pen and paper and FiftyThree’s digital Paper app, you’ll build your Visual Communication skill set. We will do group exercises in which you will learn how to apply these skills to teamwork situations to help build consensus, understand multiple stakeholders, and generate feedback with compelling visual prototypes. It doesn’t always have to be pretty, but it will be fun.
This class is for you if you have some experience in design and want to bring it into your daily routine to change the way you work with others so you can tap into that creative genius of yours.
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...Martin Karlowitsch
Presentation held at Directions EMEA 2017 in Madrid.
Been on the market for decades? Living from upfront license revenues and services that you sell alongside? Think of developing a SaaS product, but not sure where to start? Think of building a vertical Microsoft Dynamics 365 SaaS app/product? Come and join me, and I will share my experiences with you from building www.just-plan-it.com on Azure and integrate it with Dynamics 365. I will provide real life experiences, share tips and tricks, books to read and tools to use on that journey. My purpose is encouraging you to go the SaaS development route as you as an incumbent have a huge advantage over funding series driven start-ups: you know your market and have you a sustained cash flow to finance growth. In essence, I will cover the following questions:
1) How to identify and validate market demand?
2) What the heck is an MVP (minimum viable product) and how can it help?
3) How can I easily start the inbound lead generation journey?
4) How to organize development to stay at the “pulse of the market”?
5) How to measure and manage initial success?
6) Why is user onboarding so crucial and difficult?
7) How to prepare for scale?
Forget “I think, therefore I am.” For entrepreneurs, the operative phrase is, “I pitch, therefore I am.” Learn about pitching from one of the best.
Guy Kawasaki is the chief evangelist of Canva, an online graphic design tool. Formerly, he was an advisor to the Motorola business unit of Google and chief evangelist of Apple. He is also the author of The Art of Social Media, The Art of the Start, APE: Author, Publisher, Entrepreneur, Enchantment, and nine other books. Kawasaki has a BA from Stanford University and an MBA from UCLA, as well as an honorary doctorate from Babson College.
Most Common Legal Mistakes of Startup Entrepreneurs w/ Tim Harris, Partner at...Stanford Venture Studio
Entrepreneurs with limited access to legal advice make many common mistakes that can result in disastrous consequences but can be avoided with minimal cost.
Developing Your Startup Story: An Interactive Workshop w/ Sara Gaviser LeslieStanford Venture Studio
Sara Gaviser Leslie, a content strategist and founder of In Other Words (www.inotherwordsonline.com), will share her step-by-step method for developing a great presentation. This hands-on workshop is appropriate for anyone (not just startup folks!) who wants to persuade an audience (customers, investors, colleagues) and create a memorable presentation.
Speaking to investors? Want to understand how term sheets work? Know how different terms will affect the cap table, what to say when investors propose terms and how you can respond, and what to expect in your term sheet negotiations. Daniel Zimmermann and John Demeter of WilmerHale will lead a Term Sheet Negotiation Simulation with breaks for Q&A. This is an excellent opportunity to learn the nuts and bolts of term sheets.
A product roadmap is a critical and essential element of any startup's strategy. Vinod Muralidhar, MSx '15, Head of Product @ Nitrio, and over 15 years of product development experience, will explain what a product roadmap is, key elements of a successful roadmap, and cover the following difficult questions often faced by founders or product team members:
* How do I balance customer needs vs funding needs (products for investors) in building a product roadmap?
* How do I differentiate my product in a crowded market - Marketing white space vs Product white space?
* How much process is too much process during product development for a small team?
Vinod will also talk about his experiences and be available for Q&A on the product development process, or on product management as a career or function within a startup.
HR issues in startups, including hiring the right team and splitting equity
w/ Rob Siegel, General Partner, XSeed Capital, Lecturer at Stanford GSB
Rob will cover best practices, common mistakes and tips that startups should take into account during their recruiting and hiring process. Topics covered will include:
- Recruiting & retaining technical talent
- Outsourcing
- Managing contractors
- Other HR issues important for startups
An overview of the best tools on the market in 5 key areas: Team Management, Project Management, CRM, Website/Domain Management, and Analytics & Testing
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
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This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
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2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
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6. What we’ll cover today
• Pitch content and structure
• Common mistakes and fixes
• Prompts for idea generation
7. Problem
Solved
High concept
pitch
Unfair
Advantage
The AskProof
Pitch content
Single
sentence
description;
product
category;
metaphor;
analogy
The
opportunity,
need, desire or
epiphany
moment
Credibility;
team; how
we’re different;
why us
Traction;
market; people
want this
What you’re
looking for
from investors
9. “I know it sounds a little crazy, but I’ve come to
believe that a clear, compelling elevator pitch is
essential to growing a business. And I’ve paid
dearly for the evidence.”
-David Cowan
21. Value proposition
Our [COMPANY NAME] is [PRODUCT CATEGORY]
For [TARGET CUSTOMER]
That [KEY BENEFIT]
Adapted from Geoff Moore, Crossing the Chasm
22. [COMPANY NAME] is a software-only
orchestration platform that lets service
providers and large enterprises create
low-latency Cloud infrastructure
anywhere, at any scale, on any
network.
23. Omada is a 16-week online digital
health program that coordinates
everything people at risk for chronic
disease need to embrace lasting
change.
24. [COMPANY NAME] is a real-time
analytics platform that makes asking
questions of your data as easy as
having a conversation.
37. Why us?
Team credibility
Growing user base
Paying customers
Defensible IP
Partner sales
Leadership
Track record of
founder(s)
Industry insider
Network
Marquee customer(s)
Rapid growth
First to market
Successful pilots
Timing
Size of market
41. Types of proof
• User numbers
• Customers
• Revenue
• Interest generated
• Pilot results/case study
• Quotes from important people
• Demo
• Beta testing results
42. “This is the most
innovative thing we’re
doing right now as
company.”
43. “This empowers our field crews
with a greater understanding of
how their time impacts the
bottom line and how to address
it.”
47. “Your pitch is your
first prototype.”
-Baehr & Loomis, Get Backed
48. The secret to a
great pitch is how
you arrange and
present your ideas.
49. Complete these sentences...
The standard approach to [PRODUCT/SERVICE NAME] is [CHALLENGE TO OVERCOME]
But what if you could… [HOW YOUR COMPANY WILL CHANGE THE WORLD]
Introducing… [SINGLE SENTENCE DESCRIPTION]
It’s like… [METAPHOR/ANALOGY]
Now is the time and we are the team, because… [UNFAIR ADVANTAGE]
and… [PROOF]
If you’re ready to be part of this, then… [CALL TO ACTION]
51. Using contrast
rather than a practice in intentional value creation.
Most people think of seed stage
investing like panning for gold…
What is
What could be
52. Using contrast
to the character and skills of the founders
that will build the company.
We look beyond the analytics and
number crunching of a smart
investment…
What is
What could be
53. Final thoughts
• Use creative prompts to begin generating content
• Unclutter your problem
• Don’t fake it
• Use contrast to your advantage
• Make it a conversation; read your audience well
Hello!
Share background
Credibility
Today we’re going to be deconstructing the elevator pitch
But first, a question….
Can you really sell your idea in 2-minutes?
The truth is, probably not.
But what you CAN do is get second meeting.
This is an IMPORTANT distinction
The elevator pitch is part of your story, but it does not have to be the ENTIRE story
Seeing the elevator pitch in context of the typical investor communications is important for 2 reasons:
You’re relieved to know you don’t have to tell you entire story in 2-minutes
It helps you focus on the IMMEDIATE goal of getting a second meeting and not the ULTIMATE goal of fund raising
This is a good thing.
Because when you only have 2 minutes, you’re limited to 250 words.
That’s not a lot of time to tell your story.
So today we’re going to dig deeper into the ingredients of a great elevator pitch
READ SLIDE
So let’s start with structure…
In a 2-minute pitch, you have to kill off a lot of what you might have in your more detailed flat deck or investor conversation
These 5 elements are the most critical pieces someone needs to hear to generate enough interest to get them to look at your flat deck.
TALK ABOUT EACH ONE
MAY NOT BE IN THIS ORDER
And here’s how much time I suggest dedicating to each of these areas.
Now, I know this might seem easy, but I’m telling you, SO MANY PEOPLE mess this up.
Others don’t mess it up; they just don’t give it the attention it deserves…
David Cowan is a partner at Bessemer.
In the ebook pitching hacks, he says this about the importance of elevator pitches.
So let’s break down every section of the pitch to talk more about it.
Ok, I know this sounds crazy, but I can’t tell you how many times I’ve worked with a startup on their pitch, and they forget to tell me what their product IS.
One VC I worked with called this “naming your product category.”
Another expressed the idea this way: “Not being able to clearly and easily explain what exactly their product/service does. You have to assume that the investor knows nothing about your space so you have to be able to explain it in a manner that is easy to understand.”
This is so obvious that we miss it.
And I think it’s especially challenging when you’re talking about technology because you can’t SEE the product
You may not use this exactly as-is in your pitch, but having it written will help you when you go to develop your pitch.
And there’s a wide variety of language you can use to describe what your product is.
One tip I like to give startups is to choose terminology and stick with it.
Is it a platform or a solution?
Is it an engine or a database?
Some people take the route of naming their own product category
A great example is ”digital therapeutic”
This term has really only been around since 2013, but now several companies use it to describe health-programs and treatment methods that use a combination of digital tools like smartphones, apps and sensors to encourage behavioral change.
You can name your own product category, but you have to be aware that it can be risky – especially if you don’t have a GREAT description to pair with that new term.
This is the simplest template for ID’ing your product category.
I like to use this one with tech companies because it forces them to think about the terminology they will use to describe their product.
This template is a little different. It focuses less on the naming of the technology and more so on what it can deliver.
It reads a little more like a tagline or a headline you might see on a website.
I like to use this with companies that deliver services.
But as you can see, it also works with technology solutions.
The great thing about this template is that it forces you to be pithy. And pithy, simple statements are great in an elevator pitch. They’re easier to remember and repeat, and that is what you want the investor to do.
You can also take the route of writing a complete value prop, as shown here.
This is something marketers do all the time.
The Value Prop expands from simply the product category to defining your customer and the key benefit delivered
What do you notice that is a bit different about this value prop than the other two we just looked at?
Less clear on the audience.
More conversational language.
Using the value prop template will help you write it in a more complete way…
….but when you go to SPEAK it, you probably want it to sound a bit different.
That’s where conversational language comes in to play.
With this company, we had two versions of their elevator pitch: one that was WRITTEN and the other that was SPOKEN.
To develop the SPOKEN version, we pushed ourselves to get more creative in our choice of language.
STORY: Data analytics company
We wanted to explore an analogy.
PROMPT 1: Today, business intelligence is like… [FILL IN BLANK]
Here is what we came up with
Then, we built off our original prompt with a new one.
PROMPT 2: But with us, it’s like... [FILL IN BLANK]
Here is what we came up with
You can see some of them go together to make great contrast
The printed Zagat guide vs. Yelp on your Phone.
GPS without traffic updates, GPS with predictive notifications
Ultimately the one that ended up in our elevator pitch was inspired by ”having a conversation with a mime”
Next, let’s look at the Problem Solved section.
The second mistake companies make in an elevator pitch is they make the problem too complex.
This is really tempting to do because chances are you have become an expert in your field as you’ve been working on your product.
You know A LOT and you want to share that knowledge
But for someone brand new to what you’re talking about, this becomes a mouthful. Especially in an elevator pitch.
There are 3ways to solve this problem
First is to narrow down to the hardest hitting stat
The other approach is to focus on the opportunity
The third is to tell a story
Here’s an example. For this company, we picked two stats that really summed up both the opportunity and the problem.
First, 98% of construction projects are over budget or delayed. That sets the stage that this is a problem many people deal with.
Then, we double click into the average project budget to show that labor, which makes up 50% of costs is something that no one is really solving for right now.
What about flipping to the opportunity? Here’s an example of how one company I worked with did that.
Sometimes the stronger story is about a NEED a DESIRE. It may even be one they don’t know they have.
So that’s the problem.
What about your unfair advantage?
This is really you telling the person in your conversation why you are uniquely qualified to do this.
There are a variety of possibilities here….
Have you had a successful exit before
Have you secured a large customer
Are you an industry insider
Is your IP patented
Are you the first to market
Is the timing right?
STORY: Tell FRDM story around new regulations in the UK and US regarding slave labor in supply chains
So choose the thing you’re strongest at, and amplify the heck out of it.
Proof is really another word for traction, but I prefer it because I think it lends itself to a wider definition
Especially when you are early stage…
…Using the word traction can make you feel like you need to come up with some numbers….
Which brings me to another mistake investors talked about.
Don’t make up a traction story if you don’t have one.
Be honest with yourself and honest with your audience.
BUT, just because you don’t have paying customers doesn’t mean you don’t have proof that people want what you have.
When you’re thinking about proof, ask yourself this question:
Here’s just a few examples of proof
You’ll notice it’s not all quantitative
Quotes are a great form of early proof
Sometimes the biggest kicker is not the quote itself, but the job title of the person. In this case this was said by the VP at a ENR Top 20 General Contractor
For a firm working on construction tech, someone of THAT stature saying this is a really big deal
Here’s another more detailed quote the same company received from the head of operations at a smaller construction firm
In this case, the job title wasn’t as impressive, but what he said really supported their core value propostion.
Finally, you’ve got your ask.
This is a place where so many people waffle and it makes for a really poor ending to your pitch.
An investor wants to know: What’s it gonna take to do this?
Now, in an elevator pitch you might not be ready to share that information, but what you CAN be ready to do is ask for the next step:
Take a look at my deck
An in-person meeting
Having a strong close strengthens the tone of your talk….
Which should be one of CONVICTION.
STORY: Chris Sacca meeting the co-founder of instagram: Kevin Systrom
He had a lot of hesitation around the product but Kevin spoke with such conviction that he invested
So these are the 5 elements of your pitch
But they don’t necessarily need to be in that order.
Your pitch is something you’re going to work on over and over
It’s first prototype
And ask you work in it, you’re going to uncover the structure that works best for you
The difference between a good pitch and a great pitch is in how you arrange and present your material.
This is the sparkline discovered by Nancy Duarte and written about in her book Resonate
She discovered it after looking at many, many speeches from MLK to Steve Jobs
Conflict + Resolution
What is/What could be