Preparing your elevator pitch Janinka Feenstra

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Content

•  15.30 – 16.00 Theory and intro

•  16.00 – 16.15 Preparing your pitch •  16.15 – 17.15 Practice and feedback •  17.15 – 17.30 Wrap up •  17.30 Drinks!

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I am….

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Purpose of an elevator pitch…..?

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The purpose of an elevator pitch…..?

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We’ve all pitched before: it’s nothing new

•  Situations for an elevator pitch: –  Birthday parties –  Job interviews –  Networking events where you meet potential customers,

partners and investors •  The key to success:

–  Be prepared and level with your audience –  Use the building blocks relevant for that specific situation –  It’s not about closing the deal, it’s about starting the

conversation!

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Preparation

1.  Audience Analysis 2.  Your message 3.  Delivering your message 4.  Practice, practice, practice 5.  And evaluate….

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Preparation: Audience Analysis

Think about: •  Who is your listener / audience?

•  What is their expectation? •  Their level of expertise? •  Why are they interested? What are they interested in? •  Diverse audience?

•  What do you need from them? •  What should they remember?

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Your message: building blocks

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from your listener?

•  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

• Team • Competition • Marketing/sales/distribution • Status and timeline

• Summarize and call to action

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Your message: the introduction

•  Getting attention •  How?

•  A story for an emotional connection •  Statistics •  Humor •  Ask your audience a question •  Reference to a previous speaker •  Dress to impress

•  Make sure it relates to the message you want get across and doesn’t make your audience feel uncomfortable

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from

your listener? •  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

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Your Message: The Customer Perspective of the Problem

•  Who is your customer? •  Your customer’s problem is:

–  A pain he wants solved (priority) –  Relevant and important –  He/she wants to pay for it to go away

•  How many potential customers are experiencing this problem?

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from

your listener? •  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

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Your Message: Your Solution

•  What is your product / service •  How it will solve their pain, •  Or help them gain

•  But don’t zoom in on the technical details!

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from

your listener? •  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

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Your Message: Your Unique Selling Points…

•  Or Unique Buying Reasons?

•  What’s the difference…..? •  Value proposition: Gain

creator, or pain reliever for your customer?

•  Your solution quantified: •  Saves money •  Increases turnover •  Saves time •  Is more accurate •  …..

•  Convince the audience you

have the best solution –  Happy customers –  Case studies

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from your

listener? •  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

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Your Message: Business Model

•  From an investor perspective: –  How will you make money? –  Licensing? Product? Service provider? –  Scalability? –  Relevant partnerships?

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from your

listener? •  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

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Message: Your Team

•  Investors invest in a team, customers buy from people

•  Do you have an experienced entrepreneur, an absolute authority in the field?

• Team • Competition • Marketing/sales/distribution • Status and timeline

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Message: The Competition

•  Other solutions to the same pain? •  It’s not always who or what you think… •  You always have competition

• Team • Competition • Marketing/sales/distribution • Status and timeline

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Message: Marketing/Sales/Distribution

•  Ideas on how will you bring your product to the market? Webshop? Retailers?

•  Status and timeline: •  Is it an idea or a running business? •  How far along are you? •  Milestones

• Team • Competition • Marketing/sales/distribution • Status and timeline

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Message: Call to action

•  Summarize •  Your point / concise message / what you want the

listener to remember.

•  For example: •  So if you would like to save 50% on your energy

bill, vote for Solar Solutions World Wide. My name is XXX. Thank you for your attention.

• Summarize and call to action

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Delivery

•  Vocal emphasis: •  Emphasize words of signifcance •  Add a pause before a worthy fact

•  Delivery pace: •  Variety in pace to break monotony •  Fast through the usual info •  Slow down when the important parts begin

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Delivery

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And as a final remark….

You won’t be able to tell us everything….. Make sure we want to start a conversation and ask you questions!

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Your message: building blocks

•  Introduction –  Get our attention! –  Your name and your company name –  What are you looking for / what do you want from your listener?

•  Which problem are you solving for whom? •  Your solution: product or service? •  What’s your competitve advantage? •  Business model

• Team • Competition • Marketing/sales/distribution • Status and timeline

• Summarize and call to action

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Practice

•  Giving feedback:

–  Describe the behavior of the person pitching and the effect on you as a listener

–  What went very well –  What still needs some work

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Try this sample

•  Our business will deliver ______ to _______. Until now, this market has been underserved because _________.

•  Our business was / will be launched on ____and we will begin delivering product ______.

•  Our business model involves ______ and we expect to reach a breakeven level in the ___ quarter.

•  We have put together a team led by ____ and _____, who have ______. In addition, our Advisory Board includes ______.

•  We have raised ___ thusfar and are now seeking _____ to finance _______.

•  We anticipate an exit strategy in year ____ through _____. •  I would like the opportunity to schedule a meeting to discuss

this with you in greater detail.

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Networking

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Networking

attention - connecting – development – sharing – ambition – asking – people -

relationships - help – patnerships – conversations – giving, and receiving

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5 Tips on networking

1.  Ask questions and listen. Find points of commonality that can bring you into the conversation.

2.  Sit with people you don’t know. Widen your network. Ask questions and listen.

3.  Move on politely. Don’t spend all your time with one person. Gather the info you need, exchange business cards and move on. You can say “I’d like to do some mixing now. It’s been a pleasure speaking to you.” Or: “I’d love to hear more about that in the future. Please keep me updated.”

4.  Give to get. Focus on what you can do for others, not what they can do for you.

5.  Follow up. The most important part.

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And then what….?

•  An awkward silence occurs after the introduction. •  Ask them to elaborate on a topic, or what business challenge keeps

them awake at night. You can then find common grounds and how you can help.

•  Someone you admire is in the room, but your afraid to start the conversation.

•  Remember: you’re equals. Choose a thought provoking topic to ask them about: “Your solution to X really helped me in my previous job, but how would you do that in situation Y?”

•  The other person is constantly looking away, screening for other people to talk to.

•  Ask them if you can introduce them to someone. What would you do? •  It’s al about listening, attention to the other person, and building

relevant relationships. Give first. Get later.

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Your 20 second networking introduction….

•  Which word describes you and your work? •  Build your personal pitch around that word.

•  My name is Janinka Feenstra. As communications professional I enjoy helping innovative companies to clarify and tell their stories. I do that by coaching them, by sharing their news with journalists and my network and by interviewing them during events.

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Now write your pitch!

•  5/10 minute business pitch

•  20 second nertworking introduction

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Practice

•  Giving feedback:

–  Describe the behavior of the person pitching and the effect on you as a listener

–  What went very well –  What still needs some work

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Good Luck Preparing