Selling Your Idea (in 2 minutes) w/ Stephanie Patterson

Selling Your Idea

(in 2 Minutes)

Stephanie Patterson

Can you really sell your idea in 2-minutes?

No. But you can get

a second meeting.

Warm Intro

Flat Deck

First Meetin

gElevator Pitch

2 minutes = 250 words

What we’ll cover today• Pitch content and structure

• Common mistakes and fixes

• Prompts for idea generation

ProblemSolved

High concept pitch

Unfair Advantage The AskProof

Pitch content

Single sentence

description; product

category; metaphor; analogy

The opportunity, need, desire or epiphany

moment

Credibility; team; how

we’re different;

why us

Traction; market;

people want this

What you’re looking for

from investors

ProblemSolved

High concept pitch

Unfair Advantage The AskProof

Pitch structure

25 seconds 25 seconds 25 seconds 25 seconds 20 seconds

“I know it sounds a little crazy, but I’ve come to believe that a clear, compelling elevator pitch is essential to growing a business. And I’ve paid dearly for the evidence.”

-David Cowan

High concept pitch

Mistake#1

You gloss over what your product is and does.

Write a single sentence description.

Solution

Platform

Solution

App

Device

SaaS

Software

Hardware

Wearable

Service

Engine

Network

Community

Marketplace

Experience

Interface

Monitor

Dashboard

Database

Tool

Sensor

Machine

System

API

AI

VR

Machine learning

Digital therapeutic

What it is; who it’s for

[PRODUCT CATEGORY] for [NEW DOMAIN]

Rhumbix is a labor productivity platform for construction.

Common is communal living for millennials.

Getable is construction equipment networked.

Key benefit; primary differentiator

[WHAT YOU DELIVER] and [WHAT’S UNIQUE ABOUT HOW YOU DO IT ]

Joymode. More fun while owning less.

AeroFS. Sync all your stuff, with or without the cloud.

Value propositionOur [COMPANY NAME] is [PRODUCT CATEGORY]

For [TARGET CUSTOMER]

That [KEY BENEFIT]

Adapted from Geoff Moore, Crossing the Chasm

[COMPANY NAME] is a software-only orchestration platform that lets service providers and large enterprises create low-latency Cloud infrastructure anywhere, at any scale, on any network.

Omada is a 16-week online digital health program that coordinates everything people at risk for chronic disease need to embrace lasting change.

[COMPANY NAME] is a real-time analytics platform that makes asking questions of your data as easy as having a conversation.

Today, business intelligence is like...

Today, business intelligence is like...

...but with us, it’s like...

Problem solved

Mistake#2

Your problem is too complex.

Solve for complexity 3 ways1 2

Use targeted data

Focus on the opportunity

3Tell a story

Unfair Advantage

Why us?

Team credibility

Growing user base

Paying customers

Defensible IP

Partner sales

Leadership

Track record of founder(s)

Industry insider

Network

Marquee customer(s)

Rapid growth

First to market

Successful pilotsTiming

Size of market

Proof

Mistake#3

You “fluff your numbers.”

How are you delivering value right now?

Types of proof• User numbers

• Customers

• Revenue

• Interest generated

• Pilot results/case study

• Quotes from important people

• Demo

• Beta testing results

“This is the most innovative thing we’re doing right now as company.”

“This empowers our field crews with a greater understanding of how their time impacts the bottom line and how to address it.”

The Ask

“Conviction about the inevitability of success is contagious.”

-Chris Sacca

ProblemSolved

High concept pitch

Unfair Advantage The AskProof

Pitch structure

“Your pitch is your first prototype.”

-Baehr & Loomis, Get Backed

The secret to a great pitch is how you arrange and present your ideas.

Complete these sentences...The standard approach to [PRODUCT/SERVICE NAME] is [CHALLENGE TO OVERCOME]

But what if you could… [HOW YOUR COMPANY WILL CHANGE THE WORLD]

Introducing… [SINGLE SENTENCE DESCRIPTION]

It’s like… [METAPHOR/ANALOGY]

Now is the time and we are the team, because… [UNFAIR ADVANTAGE]

and… [PROOF]

If you’re ready to be part of this, then… [CALL TO ACTION]

Nancy Duarte’s sparkline

The call to adventure

The new bliss

What could be

What is

Using contrast

rather than a practice in intentional value creation.

Most people think of seed stage investing like panning for gold…What is

What could be

Using contrast

to the character and skills of the founders that will build the company.

We look beyond the analytics and number crunching of a smart investment…What is

What could be

Final thoughts• Use creative prompts to begin generating content

• Unclutter your problem

• Don’t fake it

• Use contrast to your advantage

• Make it a conversation; read your audience well

Thank you!

[email protected]