Post on 24-Dec-2015
transcript
WelcomeWelcome
Pitching Explained: Structure and practice for a Winning Pitch
Presented by Roy TerryThePrimalPitch.com
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Tuesday, 13 May 2014Hanhai Investment Inc.
Goals and QuestionsGoals and Questions
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Challenge: Are you feeling Silly?Challenge: Are you feeling Silly?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
How would you know? Pitch it!
Challenge: How to stand out?Challenge: How to stand out?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Jessica Livingston, co-Founder of Y Combinator describes Y Combinator “Demo Day” pitches:
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Truths about PitchingTruths about Pitching
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
• An opportunity
• Structure will make or break
• Multiple modes of communication
(Personal, EMO, Evidence, Establish propositions)
• Brush your teeth! (practice)
• Hidden benefits (thinking, progress, reality)
Pitching ExplainedPitching Explained
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
A conversation, 10 seconds to 15 minutes, designed to create interest, emotion and eventually action. We need the listener to
TAKE A RISK!
Purposes:
• Find a co-founder
• Money from your mom
• Get accepted into a contest
• Win a contest and find an Angel
• Go to a VC office for a 1 hour meeting
• “Due Diligence”!
• Along the way: test validity of enterprise, test your passion and develop your passion. YOU must be the first total supporter!
Starting Points: SlidesStarting Points: Slides
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Slide Decks
• “standard” slide lists of 10 to 15 slides (David S. Rose, Steve Austin, Nathan Gold, et al. =>See YouTube and Slideshare
• Problem, Solution, Market, Business (credit: Chris Lipp)
• 10-20-30 Rule – Guy Kawasaki
Starting Points: SlidesStarting Points: Slides
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Fly-by Examples
Starting Points: styleStarting Points: style
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Styles are like movie genres: romance, drama, documentary, adventure…
“Meet Bob, he loves to … with Suzie, but …”
Hi, at xyz we do xxx and here’s why?
“Today there are over xxx Million..”
Six months ago, I set out for a normal day and then…
When I found myself at the top of Mount Everest I never expected my iphone to…
Watch COMMERCIALS to see how they get attention and introduce a problem.
Watch winning pitches on YouTube.
Starting Points: DeliveryStarting Points: Delivery
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
• Flat? (the facts)
• Cool? (“Hey what’s up?”)
• Hollywood? (Wow!)
• Ideal
Pitching ImprovedPitching Improved
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Practice and feed back clears Errors
• Confusion (don’t put FUD in your own pitch)
• Got Evidence? (if not then your audience will doubt)
• Gaps (did you leave out the competition?)
• FLAT delivery with no stories or actualities?
Mental, cultural, and habit blocks: Replace with
1. It’s Showbiz so just get over it!
2. Appeal to emotion AND logic
3. Use stories and dialogue to connect the parts
4. Be willing to sort of suck == maximum learning!
Pitching Explained – Structure (again!)Pitching Explained – Structure (again!)
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Goal: A conversational message, 10 seconds to 15 minutes, designed to create interest, emotion and eventually action. We need the listener to
TAKE A RISK!Preferred Structure:
• 10 second overview (What we do…)
• The Problem (People, Pain, Frustration)
• Your Solution (Cool, unique, practical,…)
• The Market (Money, competition, timing,…)
• The Business (How do you make money?)
Pitching Explained – Structure & EMOPitching Explained – Structure & EMO
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
The human, emotional level also operates at the same time…
Preferred Structure:
• Overview => He’s OK, sane normal dude
• Problem => He’s helpful passionate like me.
• Solution => Bold, creative HERO
• Market => Hero is also visionary leader
• Business => AND he’s pragmatic (Wow!)
EMO Problem = Where’s the Bear?EMO Problem = Where’s the Bear?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
BEAR == “The Problem” with passion, conviction, evidence
A mental shortcut
How’s this…..
Where’s the Bear?Where’s the Bear?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Illustration: Where’s the BEAR?Illustration: Where’s the BEAR?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Kindara Pitch Segment (leading with
Problem): “…Worst years of her life!”
11th “Founder Showcase” Runner up
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Where’s the BEAR? DEMOWhere’s the BEAR? DEMO
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Live DEMO
1 volunteer to practice YOUR problem statement:
Listeners: Where’s the BEAR?
see, hear, feel, sense?
No Cheating!
Where’s the BEAR? PracticeWhere’s the BEAR? Practice
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
ALL PRACTICE seated pairs
Groups of 2, pick ‘A’ and ‘B’
• A: Speak for 1 minute about problem
• B: 10 seconds feedback
• B: Speak 1 minute on problem
• A: Feedback
No Cheating!
Debrief: ProblemDebrief: Problem
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
SOLUTION: How You Tamed the BEAR!SOLUTION: How You Tamed the BEAR!
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
When Solution is well delivered…
1. We’re surprised and delighted = “Wow”(we’re safe from bear and you are hero!)
2. Any doubts or complications will be addressed. (“don’t worry some things stay the same”)
3. We’ll realize how competitors would have a hard time duplicating your solution
4. We’ll hear why now is the best time to strike
What is your solution?
Simplify, make analogies, tell a story of discovery.
BEWARE! This is usually Peak Skepticism
Solution: Taming the BEAR?Solution: Taming the BEAR?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Live DEMO
1 volunteer to explain the solution:
Listeners: Sensible, intuitive, credible, unique, cool and
appealing?
No Cheating!
Solution: Taming the BEAR?Solution: Taming the BEAR?
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
ALL PRACTICE in seated pairs
Groups of 2, pick ‘A’ and ‘B’
• A: Speak for 1 minute about Solution
• B: 10 seconds feedback
• B: Speak 1 minute about Solution
• A: Feedback
No Cheating!
Tame BEAR For Tame BEAR For The WorldThe World
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
This is your market opportunity description, including competition, go-to-market plan. AND Business Model
“HOW DO YOU MAKE MONEY?”
Bonus structure caboose: The ‘Ask’Bonus structure caboose: The ‘Ask’
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
A pitch without an ask is just a presentation. A missed opportunity in most cases.
The ASK:
• Describe the specific resources or actions wanted
• What will the resouces allow you to do/accomplish?
• How long will the tasks or accomplishments take?
• What will be concrete added value to investor?
• Be ready answer: What if you got less? Or More?
Bonus: Supporting detailsBonus: Supporting details
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Depending on length, your pitch will address some or all of these aspects as well…
• The overview statement (of course)
• How, in detail, does the solution work?
• Describe traction, validation, customer testimonials, etc.
• Cover Potential objections and practice Q/A
• Revenue or promise of revenue!
• A Demo or prototype
• Advisors, Board members, and CoFounders
Would I trust you to lead my Wagon Train West?
Example for review: EnigmaExample for review: Enigma
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Presentation at TechCrunch
Overview? Problem? Solution? Bear?
Enigma at TechCrunch Disrupt, New York 2013 (Winner)
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QuizQuiz Answers Answers
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
1. World’s shortest and biggest Pitch?
2. Why was Steve Jobs moody?
3. Is the pitching game more like…
• A gold rush? (just be first!)
• A TV reality or game show? (no inhibitions or manners?)
• A marriage? (serious money)
WrapWrap
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
• Follow a pitch structure!!!!! No pitch can succeed w/o a clear structure and simple language. Repetition is your friend!
• If you can’t remember, it’s too complicated!
• Reality on your side: stories, actualities, rapport
• Practice meeting objections and Q/A
• Watch YouTube and COPY the good
Closing thoughts about VCs and Pitching
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Ben Silbermann – coFounder Pinterest
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Thanks!Thanks!
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Roy Terry at thePrimalPitch.com
• Meetup.com: SVSIAN(SV Startup Incubation Acceleration Network)
• HanHai Investment Inc.• Meetup.com: Find Your CoFounder• Meetup.com: Silicon Valley Entrepreneurs Toastmasters
Primal Pitch Cheat Sheet!Primal Pitch Cheat Sheet!
© 2014,© 2014, The Primal Pitch The Primal Pitch Roy TerryRoy Terry"Pitching Explained""Pitching Explained"
Process
1. Where’s the BEAR?
2. How did you tame that BEAR problem?
3. How will you tame that BEAR for the whole WORLD?
Audience Test
1: Did you see, feel, sense, and respond to the BEAR?
2: Did you feel relieved and say “wow” when you learned the solution?
3: Did you nod and approve of the whole world plan?
Spice it up!
• Tell us the pain and suffering when the bear wins.
• Give a story about how you discovered and realized solution was GREAT
• Quote positive comments of others: users, analysts, etc.
• Give a number of people who love being free from the bear.