1. The Powerful Pitch: Preparing Entrepreneurs to Pitch to Investors By Ray Smilor, PhD Schumacher Fellow in Innovation and Technology Professor of Professional Practice Neeley School of Business Texas Christian University

2. Agenda I.SUCCESs Model II.Elevator Pitch III.Content of the Pitch IV.Delivery of the Pitch

3. I. SUCCESs Model Why do some ideas stick in our minds?

4. I. SUCCESs Model S – simple * Core of idea ProverbsPrioritizeProfound

5. I. SUCCESs Model S – simple U – unexpected * Get attention Break a Pattern Violate Expectations Surprise

6. I. SUCCESs Model S – simple U – unexpected C – concreteness * Specific images Sensory Information Human Actions

7. I. SUCCESs Model S – simple U – unexpected C – concreteness C – credibility * Causes people to believe Statistics and Relationships Testable Evidence Truthful Details

8. I. SUCCESs Model S – simple U – unexpected C – concreteness C – credibility E – emotional * Feeling Tied to People Invoke Self- Interest Have to Care

9. I. SUCCESs Model S – simple U – unexpected C – concreteness C – credibility E – emotional Ss – stories * Compelling connection Wisdom Reflect Core Message Make People Act

10. II. Elevator Pitch

11. Purpose: Convey essence of business by time elevator reaches 20 th floor

12. II. Elevator Pitch Purpose: Convey essence of business by time elevator reaches 20 th floor Time: 120 seconds – 2 minutes

13. II. Elevator Pitch Purpose: Convey essence of business by time elevator reaches 20 th floor Time: 120 seconds – 2 minutes Expectation: Grab attention and get follow-up meeting

14. II. Elevator Pitch Purpose: Convey essence of business by time elevator reaches 20 th floor Time: 120 seconds – 2 minutes Expectation: Grab attention and get follow-up meeting Requirements: Must be concise, focused, effective

15. II. Elevator Pitch Purpose: Convey essence of business by time elevator reaches 20 th floor Time: 120 seconds – 2 minutes Expectation: Grab attention and get follow-up meeting Requirements: Must be concise, focused, effective Essential to success

16. II. Elevator Pitch 2 key questions from investors: 1.Why is this an opportunity? 2.Why should I bet on you?

17. III. Content of the Pitch 1.The problem – customer-focused

18. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need

19. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely

20. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge

21. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge 5.Competitive advantage – tell what is hard for others to duplicate

22. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge 5.Competitive advantage – tell what is hard for others to duplicate 6.The revenue model – explain how you will make money

23. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge 5.Competitive advantage – tell what is hard for others to duplicate 6.The revenue model – explain how you will make money 7.Operations – say how you will produce your product/deliver your service

24. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge 5.Competitive advantage – tell what is hard for others to duplicate 6.The revenue model – explain how you will make money 7.Operations – say how you will produce your product/deliver your service 8.The team – demonstrate credibility

25. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge 5.Competitive advantage – tell what is hard for others to duplicate 6.The revenue model – explain how you will make money 7.Operations – say how you will produce your product/deliver your service 8.The team – demonstrate credibility 9.The finances – describe what you have raised and what you need

26. III. Content of the Pitch 1.The problem – customer-focused 2.The solution – solve a problem/meet a need 3.The market – describe customer concretely 4.The competition – acknowledge 5.Competitive advantage – tell what is hard for others to duplicate 6.The revenue model – explain how you will make money 7.Operations – say how you will produce your product/deliver your service 8.The team – demonstrate credibility 9.The finances – describe what you have raised and what you need 10.The close – make strong closing by reiterating key points

27. III. Content of the Pitch 3 Things NEVER to say:

28. III. Content of the Pitch 3 Things NEVER to say: – All I need is 1% of the market.

29. III. Content of the Pitch 3 Things NEVER to say: – All I need is 1% of the market. – There is no competition.

30. III. Content of the Pitch 3 Things NEVER to say: – All I need is 1% of the market. – There is no competition. – Everyone will buy.

31. IV. Delivery of the Pitch Keep it simple: – Essence of business – Speak in plain terms – Avoid industry/technical jargon

32. IV. Delivery of the Pitch Say the unexpected: – Pose unusual question – Present a stunning statistic – State an interesting analogy

33. IV. Delivery of the Pitch Be concrete: – Point to human actions – Provide sensory information – Avoid clichés

34. IV. Delivery of the Pitch Demonstrate credibility: – Investors bet on people – Explain capabilities – Present team’s credentials

35. IV. Delivery of the Pitch Show emotion: – Let interest/passion show – Be genuine/authentic – Reflect own values

36. IV. Delivery of the Pitch Tell a story: – Explain how you got into business – Indicate why product/service is important – Communicate benefit to customers

37. The Powerful Pitch – Pitch to everyone, everywhere at any time!