MODULE 5
IDEA PITCHING
BASED ON AGREED – UPON THEMES OR PROBLEMS
PITCHING
- Pitch is the task of bringing an idea with the power to do something with it: software
ideas, implementation strategies, movie screen plays, organizational changes, and
business plans, are all pitched from one person to another.
- Pitching is a really valuable skill that all of us need to hone, because only if we pitch our
ideas will people hear us out, adopt them, and believe in our solutions
- It is a presentation of a business idea to potential investors.
- Business pitch to potential customers to sell their product.
- Finally, some organizations pitch because they need a partner or resource to help them
accomplish their mission.
THE NATURE OF IDEAS
Step 0: Create and Refine Idea
Good Ideas include some thinking about execution and delivery. Most of the time it’s not worth pitching
an idea until you’re able to answer some of the basic pragmatic questions about it, such as: What problem does
this solve? What evidence is there that the problem is real, and important enough to solve?
Step 1: What is the Scope of the Idea
The bigger the idea, the more involved the pitch. When you’ve identified the scope of your idea, do
some research on how others pitching ideas of similar scope went about it.
Step 2: Who has the Power to Green Light the Idea
Make a list of the people that are potential recipients of your pitch. Base this list on two criteria: who
has the power needed to implement the idea, and who to pitch your idea to. If you have no idea who to pitch
your idea to, ask around. There’s no sense developing your pitch if there’s no one to catch.
THE NATURE OF IDEAS
Step 3: Start with their Perspective
Consider how the person you’re trying to pitch views the world, and keep it in mind while developing your pitch.
The better your pitch views the world, perspectives, and desires, the greater your odds of being successful (or even
being listened to).
Step 4: The Structure of the Pitch
Always formulate 3 levels of depth to pitching your idea: 5 seconds, 30 seconds, 5 minutes.
The 5 Second Version, also known as the Elevator Pitch, is the most concise single sentence formulation of
whatever your idea is. Refine, refine, refine your thinking until you can say something intelligent and interesting in a short
sentence.
The 30 second and 5 minute version should grow naturally out of the 5 second version.
In 30 seconds, there’s enough time to talk about the how you’ll achieve what you described in 5 seconds, or provide
specifics of the 2 or 3 most significant things about how the effect described in the 5 second pitch will be achieved.
THE NATURE OF IDEAS
Step 5: Test the Pitch
The longer you spend with an idea, the more vulnerable you are to your own ego. Get out of your office
/ cubicle / apartment. And go find smart people you know to give you feedback.
Step 6: Deliver
Make sure you spend some time preparing for a positive response.
PITCH
WHEN DO WE MAKE
PITCHES?
ALL THE TIME!
WHAT MAKES A SUCCESSFUL PITCH
○ Know your Objective - Provide a focused, succinct, statement of the value Differentiate
yourself from others who offer the same (or similar) value Include how, specifically, you can
provide it Justify the ability (and cost) of your team to do the work Make it look good
○ Present at a Level Appropriate for your Audience - Know whom you're pitching to and tailor
your pitch accordingly. Even though you're pitching the same service or product every time, you
can't just memorize a few lines and go from there. Each opportunity is different--you'll need to
tailor how you pitch to the person you're pitching to, the social situation, and his or her level of
understanding and interest.
○ Predict and Answer the Audience’s (unspoken) Questions - Understand the person's needs
and motivations. To hit the emotional level that will really make your pitch fly, you need to
understand just what motivates the person you're pitching to and what his or her needs are.
○ Leave your Audience with Something Positive They can Remember
KNOWING YOUR AUDIENCE
W What do you want them to learn
I What is their Interest in what you have to say
S How Sophisticated are they
D How much Detail do they want
O Whom do you want to Own the information
M How can you Motivate them to listen to you
THE ELEVATOR PITCH
○ The idea of an elevator pitch is that it's short, just like an elevator ride. If executed
well, this short pitch will spark the curiosity of the client and encourage them to ask
more questions. Because of its brevity, an elevator pitch works great when seeking
investors
○ A short, simple description of your business idea that anyone could understand by
the time you ride up three floors in a typical elevator.
○ Purposeful verbal message as fast as a ride in an elevator (30 -120 seconds) in
understandable language – also for technology areas
○ A concise, carefully planned, and well-practiced “answer” about yourself, your
business, your firm, your project etc.
COMMON MISTAKES WHEN MAKING PITCHES
○ Misjudging your audience (their interests, background, requirements, etc.)
○ Not adequately motivating your idea Not helping the audience understand the “big
picture” of the area in which your product fits
○ Not covering existing alternatives and what specific novelty you are offering
○ Not presenting a realistic picture of how the cost of the project justifies its value
MUST HAVES
1. Hook – statement or question that immediately piques the interest of the recipient. Give people a “hook” by
talking about something that really interests them. The hook should grab the attention of the listener and set the
stage for the concept. Many ways to do this including identifying the problem/need you address.
The hook should simply identify the pain you solve.
■ Tag lines can be used as a form of a hook
■ It must be succinct, to the point
■ Focus on one simple message
2. KISS - Kill the geek speak, Limit technical terms/details. Focus on customer benefits, not technical benefits. Tell
a story that paints a personal picture for your audience
■ Keep
■ It
■ Simple
■ Stupid
MUST HAVES
3. Passion – if you are not excited about your business, no one else will be either
4. Request – Ask recipient for permission to call, a referral to others, or feedback
5. Short – assume you have less than a minute, and sometimes only time for a few
sentences
ELEVATOR PITCH TEMPLATE
• For (target customer) who (statement of need or opportunity) the (product or
company name) is a (product or company category) that (statement of key benefit /
compelling reason to buy).
• Unlike (primary “competitive” alternative), our product (statement of primary
differentiation).
1. Cover Page – Company’s name and the logo
2. Mission – mission of your startup
3. Summary- short summary, main facts about your company.
4. Team – member
5. Problem
6. Solution
7. Technology
8. Marketing
9. Sales
10. Competition
11. Milestone
12. Conclusion
13. Financing
THANK YOU!
