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Idea Pitching Guidelines
The document provides guidance on giving effective idea pitches in 3 minutes or less. It recommends explaining your idea simply in the first minute, answering questions from "the little man" to elaborate on benefits, and learning about your audience by visiting their website. The 10/20/30 rule suggests 10 slides, a 20 minute presentation, and 30 point text. It stresses preparing properly by testing equipment and asking how much time is available. The CEO should do 80% of the talking if presenting with a team of no more than two others. Appearance, voice, and body language are important to engage the audience. Common mistakes include lacking a unique competitive advantage, not validating demand, and improper positioning against competitors without a clear customer acquisition
Idea Pitching Guidelines
- 1. Guidance for giving great IdeaPitching @aditforever #Tips Startup Series
- 2. 37%IT Startup still operating after3 years 90%Startup failed The Facts
- 3. Lets Pitch! Attention! You onlyhave less than 15 minutes to explain everything
- 4. #1 explain yourself in1st minute Make it short & sweet
- 5. Make it short& sweet we sell software we sell hardware we track underprivileged childs we help sinner we prevent child abuse
- 6. #2 Answer thelittle man
- 7. Answer “the littleman” you said : “we use digital signal processing in our hearing aids” little man asked : “so what?” you replied : “our product increase the clarity of sounds” then you elaborate : “for instance, if you’re at the cocktail party with many conversations going on around you, you’ll be able to hear what people are saying to you”
- 8. Answer “the littleman” you said : “we provide 128-bit encryption in a portable device” little man asked : “so what?” you replied : “It's harder than hell to break into our system” then you elaborate : “For instance, if you're in a hotel room and want to have a secure telephone conversation with your headquarters”
- 9. #3 Know your audience learnwho’re the audiences, what’s important to the them, visit their website
- 10. learn what’s importantto the audience • What are the three most important things you would like to learn about our organization? • What attracted you to our idea and convinced you to give us an opportunity to meet? • Are there any special issues, questions, or landmines I should be prepared for in the meeting? • How old will the oldest person in the meeting be? (You'll soon see why you need to know this.)
- 11. visit the website •organization background; vision, mission, who funded, who founded • executives; who work there, what their previous positions, where did they go to school • current efforts; what they do, what its direction
- 12. #4 Observe the 10/20/30rule ten slides, twenty minutes, 30 point text size You need to communicate "enough," not everything The purpose of a pitch is to stimulate interest, not to close a deal. Tell what your organization does.
- 13. #5 Set thestage If there's no projector when you show up for a meeting, it's your fault. If your laptop and the projector don't work together, it's your fault. If the bulb blows out in the middle of your pitch, it's your fault. If you start slowly, seem disorganized, and look disheveled, it's your fault the first magic word is “How much of your time may I have?”
- 14. #6 Let oneperson do the talking In a pitch, the CEO should do 80 percent of the talking. The rest of the team (and there should be no more than two others)can present the one or two slides pertaining to their specific area of expertise.
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- 16. #1 Appearance use comfortsuit, be yourself but respect to the audience
- 17. #2 Voice speak loudenough, clear, not too fast, show enthusiasm
- 18. #3 Body Language fair expression,not too much body movement
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- 20. #1 Invalid competitive advantages "Superior SEO"and "unique features" are not competitive advantages
- 21. #2 Lacking an unfair advantage Youneed one killer advantage no one can beat (because you might get beaten on everything else!)
- 22. #3 No onesaid they'd buy it You don't need statistically significant studies, but it's astonishing how many blaze ahead before they've found even a single person willing to give them money
- 23. #4 Incorrect positioning against thecompetition The two faults here are opposites: Believing that uniqueness means competition doesn't exist, or defining yourself by the competition instead of constructing your own message.
- 24. #5 No significant routeto customers If your marketing strategy is to run A/B tests and build RSS subscribers, you've already lost.