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Perfecting Your Pitch

Advancing IDEAS Workshop presentation on developing a pitch for a busines concept
by

Kyle Gruen

on 27 February 2014

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Transcript of Perfecting Your Pitch

Perfecting your Pitch
Presented February 27, 2014
Kyle Gruen
Elevator Pitch Comparison
Why Pitch - is it all about money (Goals)?
How to pitch - communication skills, presentation style
What to Pitch -Pitch Elements
Who do you pitch to - know your audience
Example pitch reviews - elevator pitches
Questions and Answers
Overview
Elevator Pitch
Investment
Government funding
Competition
Cofounder Pitch
Advisory Pitch
Sales Pitch
Why Pitch?
Introduction
set context, hook
introduce yourself and company
What to pitch?
Common Elements *
What's in it for the audience
?
Describe the problem you are solving
pain points of your customers
impacts / size of problem
proof
Define your market
size of total market
addressable market
validation / proof
competition / alternatives
Explain how you will do it
Solution Oriented
x Product Description x
features vs benefits
Explain your Business Model
financial model
key action items and milestones
risks
Describe your team:
skills, key experience
why you are the best to build this business
identify gaps in skills
The Ask
advisor
investment (valuation)
co-founder
sale
There are many shades of money:
:: Friends and Family (love money)
:: Government
:: New Venture specific funding
:: Venture Competitions
:: Angel Investors
:: Bank loans / line of credit
:: Partners or Customers
:: Venture Capital
:: Reverse takeover
::
Crowdfunding
- features sell
:: Dragons Den?
Who to Pitch to?
General Presentation Skills
1st impression / branding /likeable
know goals and match to your audience
identify or engage with audience
pay attention to time (VEF is 2 minutes, AngelForums 5-10 minutes plus Q&A etc.)
sell the business; not the product
less is more
choose to leave details for follow-up or Q&A
its ok if you don't have all the answers
How to Pitch?
Note:
The Non-Confidential
Pitch
NDA challenges - many angels and VC's wont sign them
Focus On - Pain definition
Sell the abilities of your team
Sizzle vs. Steak - Benefits vs Features
Why vs. How
The main purpose of short pitches is to open a door, not close a deal
:: Forbes.com - Pitch Infographic
Make your presentation unique!
note: partner fit
two-way communication
personality
knowledge / expertise
investment experience
risk tolerance
Taking on the wrong partner can have a huge impact on your business
Vancouver Examples:
Angels:
VEF
Angel Forum
Vantec
Green Angel
note: Gust.com <Angelsoft>
Competitions
BCIT Innovates
New Ventures BC
Vancity Social Enterprize
Wavefront, Growlabs, BCIC
New Venture Debt funding:
CYBF
Vancity Comunity Microfinance
BDC
past industry services manager CAP
heard 300+ pitches
CAP funding applications
Angel Forums and events
Competitions
business pitches
sales pitches
gov't funding pitches
bplan pitches within large corporations
Current: Manage TopInstallers.com
Bio:
Questions?
$
$
$
If only it was this easy...
Shorter Pitches
30 sec - 2 minutes
:: Open
- ID problem, Intro company
:: Middle
- Solution, Team, Traction
:: Close
- ASK and closing thought
CREDIBLE - likeable :: memorable :: passionate
examples?
kylegruen@BuildDirect.com
Full transcript