Upload
others
View
2
Download
0
Embed Size (px)
Citation preview
The Pitch is a Bitch
Howard Anderson
60 second man/woman
Its 1879, and You Are Thomas Edison
And you are pitching the MIT $50 Competition
• What would you say?
• 1.
• 2.
• 3.
• 4.
• Remember: You have 60 seconds.
Wrong:
• 1. Here is my Team (Tesla, etc)
• 2. Here is my technology
• 3. Here is why we will be $ GodzillionCompany
• 4.Here is my track record
Right:
• 1. Here is the problem with traditional
• Lighting: (whale oil, candles, natural gas)
• A. It smokes
• B. It is unreliable
• C. It Smells
• D. It burns down houses
Start with the Problem.
• Why is it a problem? Who suffers? Tell a story.
• GRAB THEIR ATTENTION QUICKLY.
• 2. Here is a better solution• and here is who needs it:
• U.S.: 50 million population• 3 million businesses• Average households spends….$50/year• Average business spends……$300/year• Total addressable market: = $2.5 Bill + .9Bill• = $3.4 Billion
• 3. Here is what we will have to do:
• A. Build generation plants:
• B. Build distribution plants
• C. Protect the Intellectual
• Property
• D. Build a Management Team
• HERE IS OUR TIME LINE:
• 1879: Finish Prototype…. (12 months)
• File Patents
• 1880: Roll out NY Test Market
• 1881: Roll out NY Market; finish sales/marketing plan
• 1882: Roll out Boston
• 4. here is our competition: Natural Gas and candles.
• A. Here are their strengths… and weaknesses
•• 5. This is the amount of money we will need and when we will need it. ($1,000,000 in capital for every 25,000 homes)
Recap: Start with an Idea
Explain why it is an exceptional opportunity
Analyze what demand would be
Analyze competition
What resources (mgt, $) will you need
What is your execution plan