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This is the speech I'll give at MIP business school (international MBA class) on Tuesday the 19th 2013
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InnoVits Workshop March 19th 2013
on pitching
OPEN TALK ON SELLING BUSINESS IDEAS
what is a pitch?
In baseball a pitch is the act of throwing a baseball toward home plate to start a play.
A pitch is one of the most important tools you have to convince investors about the value of your
business ideas
How? A pitch in a elevator You never know
when you’ll have the right chance with the right people to share you ideas
so if it happens
You must be prepared and ready!
You are in a elevator, “coincidentally” agaist the
person that you always want to meet.
The elevator button lights up to
the eight floor so you have thirthy seconds to tell your story:
your elevator pitch. Does this situation happen
often? Maybe not. The elevator is too
full or your partner must already get off at the third floor.
But it’s not the case to improvise
Training this competence will help you get the most out of any chance you might have … to pitch
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anything but a perfect science!
a good pitch needs “design”
context
be comfortable with the context … … not just the environment
How much available time?
What situation are you in?
Know your audience: is there any particular
subject they pay attention to?
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OBJECTIVES What do you want out of the
conversation/speech
CONSTRAINTS Short available time
Uncomfortable location How much attention by your
interlocutor?
FOCUS What problems of your customers
help you solve?
PASSION It’s contagious
Be positive and look comfortable
which ingredients for your recipe?
http://en.wikipedia.org/wiki/Pitch_baseball
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Start with an attention grabber sum up your proposition in one line e.g.: You never actually own a Patek Philippe. You merely look after it for the next generation. A kind of justification to spend a tremendous amount of money on one time piece that could have bought you half a dozen other Swiss quality watches
get straight to the point
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stairway to heaven: a logical path
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[1] The PAIN explain the needs of a potential customer base. Here you define the nature of the demand. Identify the target.
[2] The SOLUTION – Value Proposition Describe how you will solve the pain from a user viewpoint (users first)
[3] The BUSINESS MODEL You have to explain your business model, that is he way you think you create create value. This is related to partners, activities, resources, customer relationships, distribution channels, customer segments, cost structure, revenue streams.
[4] The TEAM The set of competence needs to be balanced
be impressive: a matter of style
Be direct, persuasive and enthusiastic Irony works and is for free! Do not use overly language Clearly express your differentiating value What is in it for me? That is … why should the listener spend his time listening to you?
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perfection is not of this world
Being prepared will make the difference.
The main real value of a business plan is in making your business proposition believable to a potential investor.
The BP is useful to prepare you.
Never miss a chance to pitch and gather feedbacks. This will prepare you for the next pitch.
The perfect pitch … simply does not exist. You have to adapt to any potential situation the get the result.
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Daniele Pes [email protected] http://www.linkedin.com/in/danpes
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