The Business Plan Pitch - PowerPoint PPT Presentation

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The Business Plan Pitch

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The Business Plan Pitch Kirstie Chadwick Director Very Important Point You are NOT pitching a great idea, team or product You ARE pitching what your business will do ... – PowerPoint PPT presentation

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Title: The Business Plan Pitch


1
The Business Plan Pitch
  • Kirstie Chadwick
  • Director

2
Very Important Point
  • You are NOT pitching a great idea, team or
    product
  • You ARE pitching what your business will do for
    investors and for customers
  • SO, pitch how your business will solve a tangible
    problem that exists TODAY!!

3
Example
  • WRONG
  • We are the smartest telecom guys in the world and
    we are gonna install high bandwidth wireless
    telecom infrastructure in really tall downtown
    buildings in big cities all over the world
  • BETTER
  • We enable you to use your cell phone anywhere
    inside every building in all major U.S.
    metropolitan areas

4
Elements of the Pitch
  • The Hook- pain point or heart grabber
  • Brief description of product/service
  • Brief market description with opportunity
  • Brief description of competition
  • How you are different from other solutions
  • How you will make money - biz model
  • Partnerships and alliances
  • Sales and distribution plan
  • The experience of the team, board, etc.
  • Five year financial forecast with milestones
  • Investment request with ROI expectation

5
Elevator Pitch Must Haves
  • Hook statement or question that immediately
    piques interest of recipient
  • Passion if you are not excited about your
    business, no one else will be either
  • Request Ask recipient for permission to call, a
    referral to others, or feedback
  • Short assume you have less than a minute, and
    sometimes only time for a few sentences

6
The Hook
  • The hook should simply ID the pain you solve
  • We make Napster legal
  • Have you ever had your cell phone fail inside a
    building?
  • Imagine a rubber coating that conducts
    electricity.
  • We will change the way people invest their money.
  • Tag lines can be used as a form of a hook
  • GE brings good things to light
  • NY Times All the news that is fit to print
  • Venture Lab Where education is a venture

7
The Product Pitch
  • KISS Keep It Simple, Stupid
  • Kill the geek speak
  • Focus on customer benefits, not technical
    benefits
  • Tell a story that paints a personal picture for
    your audience

8
The KISS of the Devil Too Much Information
  • WRONG
  • Our technology is the first integrated and
    automatic book scanner that will scan and
    digitize bound documents at a speed of 1,200 PPM
    at a fraction of the cost of existing solutions
    based on a disruptive digital imaging technology
    initially developed at Bell Labs and protected by
    12 patents.
  • BETTER
  • We capture the future of knowledge by seamlessly
    digitizing physical libraries at a very low cost.

9
Geek Speak Is Boring
  • WRONG
  • We provide non-penetrable intrusion detection
    for digital voice, fax and wireless communication
    devices with our 2048-bit Hellman encryption
    algorithm that is combined with the latest
    168-bit Hellman DES.
  • BETTER
  • We allow you to communicate safely on a broad
    range of digital devices.

10
Customer Benefits, Not Technical Benefits
Technical Benefits
Business Benefits
  • Seamless integration
  • Scalable, adaptable
  • Secure networking
  • Improves network performance
  • SO WHAT???
  • Increase your revenues
  • Reduces your risk
  • Cut your costs by 30

11
The Market Pitch Tie to a Burning Need!!
  • ID the problem or need you solve in 1-2 sentences
  • We allow any cell phone to work anywhere inside
    buildings that utilize our wireless network
    solution.
  • Reference a brand-name customer that is using
    your product (or that has expressed interest)
  • The FAA has determined that we are the only
    security system that is able to rapidly move
    people through security check points while
    exceeding their security needs
  • Quantify your market size with numbers that are
    from a trusted 3rd party source
  • According to the American Hospital Association,
    there are 4,000 hospitals in the U.S. that need
    the ability to visualize MRI images in 3D

12
Know Thy Competition Acknowledge It
Microsoft
You
13
Neutralize Your Competition
  • Pitch 1-2 Unique Differentiators that paint a
    picture
  • We use the same insulin compound provided in
    Mercks drugs, but we allow children to take an
    oral dose instead of a shot
  • There are many flavors of PDA keyboards, but ours
    is the only one that folds into the PDA device
    when it is not in use
  • While there are many wireless router boxes on the
    market, ours is able to send signals through
    cement and steel walls

14
So, How Will You Make Money?(Optional depends
on time and uniqueness of business)
  • Simple description of your business model
  • Recurring revenue models are ideal
  • We will install the wireless network in a
    building at no charge, and then charge a usage
    fee for all calls that we carry
  • We provide free access to our medical information
    website for consumers, and charge advertisers for
    each exposure
  • Our portable fuel cells will be installed in
    laptops, and we will receive a royalty from Dell
    for each installation

15
Why Invest in You?
  • Fact investors invest in people, not products
  • Our founders have over 20 years of combined
    experience in the telecom industry
  • Our board includes two top executives in the
    restaurant franchise industry
  • Our technical staff has a combined portfolio of
    over 30 medical device patents
  • We just recruited John Smith to run our sales
    team. You may recall that John took Google from
    3 million to 100 million in sales in two years.

16
Will You Help Me?
  • Always end with a request
  • Could I follow up with you at a more convenient
    time to present our company in more depth?
  • Given your background, I would greatly appreciate
    your feedback. What do you think of our business
    model?
  • I know you have a lot of contacts in the energy
    utility business. Who would you recommend for us
    to ask to join our board?
  • Could I have your card? I would like my CTO to
    follow up with you on your technical questions.

17
Top 3 Elevator Pitch Mistakes
  1. Focus on selling a cool product/idea instead of
    on the viability of the business
  2. Take too long to get to the pain/problem that you
    are solving
  3. Dont engage the recipient via questions that
    request them to engage with you

18
An example
  • Have you ever had your cell phone fail inside a
    building?
  • We provide a communications network that enables
    any cell phone to work anywhere inside all types
    buildings, while ensuring your communications are
    secure.
  • The FCC has determined that over 60 of the 5
    million commercial buildings in the U.S. inhibit
    wireless or cell phone communications from
    within. The percentage is even higher in
    international markets
  • While there are many vendors that provide
    internal wireless networks, we are the only
    vendor that enables communications to penetrate
    steel and other high density construction
    materials, which significantly reduces the cost
    of installation
  • We will install the wireless network in a
    building at no charge, and then charge a usage
    fee for all calls that we carry on our networks
  • Our founders have over 25 years of design
    experience in communications systems, and Bob
    Marriott has recently agreed to join our Board of
    Directors.
  • It is my understanding that you invest in young
    communications companies. Can I follow up with
    you next week to discuss our business in depth?

19
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