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Selling Your Idea (in 2 minutes) w/ Stephanie Patterson

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Selling Your Idea (in 2 minutes) w/ Stephanie Patterson

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Selling Your Idea (in 2 minutes) w/ Stephanie Patterson

  1. 1. Selling Your Idea (in 2 Minutes) Stephanie Patterson
  2. 2. Can you really sell your idea in 2-minutes?
  3. 3. No. But you can get a second meeting.
  4. 4. Warm Intro Flat Deck First Meeting Elevator Pitch
  5. 5. 2 minutes = 250 words
  6. 6. What we’ll cover today • Pitch content and structure • Common mistakes and fixes • Prompts for idea generation
  7. 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
  8. 8. Problem Solved High concept pitch Unfair Advantage The AskProof Pitch structure 25 seconds 25 seconds 25 seconds 25 seconds 20 seconds
  9. 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
  10. 10. High concept pitch
  11. 11. Mistake #1 You gloss over what your product is and does.
  12. 12. Write a single sentence description.Solution
  13. 13. Platform Solution App Device SaaS Software Hardware Wearable Service Engine Network Community Marketplace Experience Interface Monitor Dashboard Database Tool Sensor Machine System API AI VR Machine learning Digital therapeutic
  14. 14. What it is; who it’s for [PRODUCT CATEGORY] for [NEW DOMAIN]
  15. 15. Rhumbix is a labor productivity platform for construction.
  16. 16. Common is communal living for millennials.
  17. 17. Getable is construction equipment networked.
  18. 18. Key benefit; primary differentiator [WHAT YOU DELIVER] and [WHAT’S UNIQUE ABOUT HOW YOU DO IT ]
  19. 19. Joymode. More fun while owning less.
  20. 20. AeroFS. Sync all your stuff, with or without the cloud.
  21. 21. Value proposition Our [COMPANY NAME] is [PRODUCT CATEGORY] For [TARGET CUSTOMER] That [KEY BENEFIT] Adapted from Geoff Moore, Crossing the Chasm
  22. 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. 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. 24. [COMPANY NAME] is a real-time analytics platform that makes asking questions of your data as easy as having a conversation.
  25. 25. Today, business intelligence is like...
  26. 26. Today, business intelligence is like... ...but with us, it’s like...
  27. 27. Problem solved
  28. 28. Mistake #2 Your problem is too complex.
  29. 29. Solve for complexity 3 ways 1 2 Use targeted data Focus on the opportunity 3 Tell a story
  30. 30. Unfair Advantage
  31. 31. 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
  32. 32. Proof
  33. 33. Mistake #3 You “fluff your numbers.”
  34. 34. How are you delivering value right now?
  35. 35. Types of proof • User numbers • Customers • Revenue • Interest generated • Pilot results/case study • Quotes from important people • Demo • Beta testing results
  36. 36. “This is the most innovative thing we’re doing right now as company.”
  37. 37. “This empowers our field crews with a greater understanding of how their time impacts the bottom line and how to address it.”
  38. 38. The Ask
  39. 39. “Conviction about the inevitability of success is contagious.” -Chris Sacca
  40. 40. Problem Solved High concept pitch Unfair Advantage The AskProof Pitch structure
  41. 41. “Your pitch is your first prototype.” -Baehr & Loomis, Get Backed
  42. 42. The secret to a great pitch is how you arrange and present your ideas.
  43. 43. 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]
  44. 44. Nancy Duarte’s sparkline The call to adventure The new bliss What could be What is
  45. 45. 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
  46. 46. 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
  47. 47. 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
  48. 48. Thank you! mrsstephpatterson@gmail.com

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