Elevators Need No Pitches You Need Them
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Transcript of Elevators Need No Pitches You Need Them
NEED NO PITCHES; YOU NEED THEM
it’s frustrating to see potentially good ideas and quality entrepreneurs get ignored too quickly because their pitches suck.
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WWhat’s Wrong?
Investors need to be able to instantly understand your value proposition.
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HWhat Can be Done?
Scrap all the buzzwords and get to the point. Most investors have seen hundreds of pitches, you’re not going to “wow” them with lengthy, meaningless descriptions.
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Instead, focus on use cases
How?
Do you Remember
?
How will the product be used? And I don’t mean in broad terms – but literally describe how it gets used.
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Who benefits? Why do they benefit?
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How does your product fit into your customer’s daily life?
What Should Be Your Approach
Of course the Right one
Give people a “hook” by talking about something that really interests them
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It must be succinct, to the point
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Make it simple and easy for people to contact you after the pitch - give them an incentive to seek you out.
The Rule Of Three
Tried and Tested
The “Hook” • Get attention and interest
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2 The Subject Explains and proves your point with
passion (investors expect energy and dedication from entrepreneurs)
Should induce desire (“greed inducing”)
Use the Concept Summary as a framework
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The Close Call to action or demand for
reaction
UUnique Selling Proposition Template
Sentence #1 For (target customer) who (statement of the need or opportunity), the (product/service name) is a (product/service category) that (statement of benefit)
Sentence #2 Unlike (primary competitive alternative), our product (statement of primary differentiation)
The Ten C’s
of an Effective Elevator Pitch
#1 Concise #2 Clear #3 Compelling #4 Credible #5 Conceptual #6 Customized #7 Concrete #8 Conversational #9 Consistent #10 Creative
FUYour Pitch by doing this …
And please don’t
Focus on selling a cool product/idea instead of on the viability of the business
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Take too long to get to the pain/problem that you are solving
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By not engaging the recipient via questions that request them to engage with you