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Nailing Your Elevator Pitch

Elevator pitch

Slide show presentation

Business case

Length

I pitch, therefore I am…an

entrepreneur is always pitching

Guy Kawasaki

© Vlerick Business School

Seeking Agreement

5

The next step

6

ENTHUSEEnthuse

7

ENTHUSE Listen

WHAT ARE THE WHAT ARE THE WHAT ARE THE WHAT ARE THE ESSENTIAL PARTS ESSENTIAL PARTS ESSENTIAL PARTS ESSENTIAL PARTS

OF A BUSINESS OF A BUSINESS OF A BUSINESS OF A BUSINESS PITCH?PITCH?PITCH?PITCH?

8


ELEVATOR PITCHES: WHAT?

Value proposition

Problem/question/need

Your solution

For who

Numbers

People: establish credibility

Current status

© Vlerick Business School10

Value Proposition


Show Me The Numbers


MARKET SIZE

23


BUSINESS MODEL

24


And Who Are You?


Status

It was over 35 slides long, with each slide feeling like it had 12 lines of 10-point type. It had a problem

statement going back to the invention of the telephone, an opportunity claiming to exceed the Gross National Product and it had every possible

product feature with enough left over for three other products

Steve Blank


ELEVATOR PITCHES: HOW?

Pitch ALL the time

Short

Easy and clear


MAKE IT CONCRETE


GEEK SPEAK VS. STORY (1)

A geographically customizable GPS system

that provides localized information on demand.


GEEK SPEAK VS. STORY (2)

Imagine you are driving from Brussels to the Belgian coast. You are bored to death. Your foot is off the pedal and the car is on cruise control as you wait to pass Ghent. Suddenly, the sexy voice on your GPS comes alive with the announcement, “You are nearing the unique city of Ghent-- as alive and charming as ever. A visit to Ghent is a true pleasure with its medieval buildings, modern art and excellent nightlife, amongst many other things. Would you like to hear more about its history or the four interesting events happening here today?”

The XYZ technology that makes this experience possible is the funding focus for the current venture. A detailed analysis of the benefits of this technology (presented in Section X) suggests a series of market segments and opportunities such as…..



Pitch ALL the time

Short

Easy and clear

Target your audience

Quantify


QUANTIFY AND JUSTIFY!

The ethical pharmaceutical industry spends in excess of $2.4 billion annually in managing

executive speaker programs to promote therapeutics to prescribing physicians. This

massive marketing expenditure is distributed among thousands of consulting physicians and outside service providers. Control over speaker

program spending is highly fragmentedbetween brand-marketing organizations and the more than 90,000 sales representatives in the

field.


QUANTIFY AND JUSTIFY

Primary sources

surveys, telephone surveys, interviews, focus groups, observation, product sampling.

Secondary sources

officially published data by government, banks, Patent Office, trade and industry journals, Mintel, on-line and CD/rom data bases, the internet, chambers of commerce…

Traction… …WE HAVE SOLD OUR PRODUCTS TO…

…WE HAVE A SALE PENDING ON…



Pitch ALL the time

Short

Easy and clear

Target your audience

Quantify

Selling, not educating


THINK VALUE, NOT PRODUCT FEATURES

“Our product is simply better and faster, so customers will love it”

Create value for all stakeholders that you need to build your venture

Shareholders

Colleagues

Suppliers

Retailers

Logistics

…



Passionate

Grab the attention: 1st and last

Questions

Use silence


GREAT PRESENTATIONS

| XX-XX-20XX |59 |

Made to stick

Simple

Unexpected

Concrete

Credible

Emotional

Stories

Nancy Duarte: Resonate!

WHAT DO YOU THINK WHAT DO YOU THINK WHAT DO YOU THINK WHAT DO YOU THINK ABOUT THE STORYCODE ABOUT THE STORYCODE ABOUT THE STORYCODE ABOUT THE STORYCODE PITCH? PITCH? PITCH? PITCH? HOWHOWHOWHOW DOES IT DOES IT DOES IT DOES IT COMPARE WITH THE COMPARE WITH THE COMPARE WITH THE COMPARE WITH THE YOUDOODOLL PITCH?YOUDOODOLL PITCH?YOUDOODOLL PITCH?YOUDOODOLL PITCH?

61


1. WHY WILL YOU SUCCEED WHERE OTHERS HAVE FAILED?

-

“I’m very committed”

+

“We have expertise in our team with relevant practical experience.”

“We are in touch/contact (or even better: a contract) with supplier X; customers (names!).”


2. HOW WILL YOU BE UNIQUE? WHAT IS YOURUNIQUE SELLING PROPOSITION?

-

“We are better than competition”

“We have no competition”

“Our quality”

+

“Our speed: we deliver within 24 hours, if not : for free”

“We have technology x, new in Europe, andwe can prove it works at Y”


3. HOW DO YOU KNOW THAT THIS IS AN“OPPORTUNITY”?

-

“We did research on the internet”

“We have the feeling and we see it”

+

“We have experienced it with potential clients. We already did some trial sales”

“We ourselves have experienced the pain”


4. WHAT IS YOUR PROPOSAL TO ME/US ?

-

“How do you mean ?”

“It depends. I am willing to negotiate”

+

“I/we invest 150.000 euro ourselves and we are lookingfor an external invester, preferably someone who knowsthe business, and who can invest 500.000 euro for 20 percent of the shares”

“Can you invest 500 k € ?”


CONCLUSION

A pitch serves to demonstrate how an opportunity/idea is more than just the individual’s dreams and wishes

Always use a pitch / business plan presentation as an opportunity to learn. There is no better critic than an investor (whether corporate HQ or VC)

Importance of

VP / Numbers / People / Status

Numbers / Storytelling / Visuals


QUESTIONS?

67

VERONIEK COLLEWAERT

+32 9 210 92 12

[email protected]

@VERONIEKC

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