Winning the Battle of Pitching - Making Ideas Happen

Ncell App Camp 2015

The sessions of this two days training tries to instill knowledge of opportunity, market, consumer needs and wants, and the ways to model it into a validated value proposition and business model. It tries to build understanding of the market, business and marketing concepts among technology entrepreneurs. The idea is to transfer understanding and knowledge of market and business sense among mobile app developers/entrepreneurs so that they can integrate those concepts into their product (mobile app) design, architecture and its implementation model (it would have equivalent sense to social mobile app designers as well) and create best business model (applicable for social app model too). The idea is to integrate the concepts of consumer needs, market, marketing and business modeling in their development phase, idea pitching phase and take it further after that. This session would help each participant come out of technology cocoon and understand about the all-important business/market/consumer sense by creating best economic/social value.

Presentation prepared by Mr. Sohan Babu Khatri, CEO of Three H Management.

Transcript

1. WINNING  THE  BATTLE  OF   PITCHING   Making  IDEAS  Happen  
2. Sohan  Babu   Khatri   CEO   Three  H  Management       Management   Consultant  and   Resource  Person   Various  organizaAons   across  the  cross   secAon  of  industries   and  academic   insAtuAons  
3. What  is  PITCHING  ?  
5. Coming  up  with  creaCve  ideas  is  easy;   selling  them  to  strangers  is  tough  
6. Its  About….   You   Them   The  IDEA  
7. What  is  PITCHING  ?  
13. Does  the  traits  of  FINGER  maNer  ?  
14. Which  is  most  important  ?….   You   Them   The  IDEA  
15. Which  is  most  important  ?….   Them   The  IDEA   You  
16. Idea  Pitched  by……..     Does  it  make  any  difference  ?  
17. FIRST  OF  ALL…  ITS  ALL  ABOUT   YOU   You  
18. What  about  YOU  ?  
22. Talk  as  if  your  LIFE  IS  AT  STAKE  
24. Pitching  is  for  the  powerless.  You  don’t   pitch  unless  you  need  something  from   someone  else,  whether  it’s  money  for  a   start-­‐up  or  permission  to  go  out  on  a  date.       If  you  put  yourself  into  a  posiCon  where   you  need  to  pitch  to  get  what  you  want,   don’t  mess  it  up  by  pretending  you  are  in   control.    
27. You  should  have  control  over  what   you  believe  on…  what  you’re   saying….  What  you’re  seeking    
28. What  about  …..  
29. What  about  THEM  ?   We  all  like  to  think  that  people  judge  us   carefully  and  objecAvely  on  our  merits.  But  the   fact  is,  they  rush  to  place  us  into  neat  liLle   categories—they  stereotype  us.  So  the  first   thing  to  realize  when  you’re  preparing  to  make   a  pitch  to  strangers  is  that  your  audience  is   going  to  put  you  into  a  box.  And  they  are  going   to  do  it  REALLY  FAST  !!!  
30. Research  suggests  that  humans  can   categorize  others  in  less  than  150   milliseconds.  Within  30  minutes,   they’ve  made  lasAng  judgments   about  your  character.  
31. But  you  have  only….  
32. People  on  the  receiving  end  of  pitches  have  no   formal,  verifiable,  or  objecCve  measures  for   assessing  that  elusive  trait,  creaCvity.  Catchers— even  the  expert  ones—therefore  apply  a  set  of   subjecCve  and  o\en  inaccurate  criteria  very  early   in  the  encounter,  and  from  that  point  on,  the  tone   is  set.  If  a  catcher  detects  subtle  cues  indicaCng   that  the  pitcher  isn’t  creaCve,  confident  and  in   control  of  the  idea,  the  proposal  is  toast.  
33. But  that’s  not  the  whole  story.   ………….catchers  tend  to  respond  well   if  they  are  made  to  feel  that  they  are   parCcipaCng  in  an  idea’s   development.  
34. Can  you  engage  their  psychology  in   such  a  way  that  they  feel  that  they’re   part  of  your  team  member  ?  
35. Oscar-­‐winning  writer,  director,  and   producer  Oliver  Stone  said  ………  “the   invitaCon  to  collaborate  on  an  idea  is   a  “seducCon.””  
36. How  do  you  do  it  here  ?  
37. BUSINESS  SENSE       +       TECHNICAL  SENSE  =       COMMON  SENSE    
39. Which  is  most  important  ?….   Them   The  IDEA   You  
40. Do  you  believe  in  your  IDEA  ?     OR       It’s  a  half-­‐heartedly  built  up   HYPOTHESIS  ?  
41. Is  this  idea  your  “DREAM”  ?  
42. Having  Dream  makes  sense  to   only  those  of  you  who  believe….  
43. NO  ULLU  BANAWING  !!!  
44. The  thrill  of  being  clever  is  so  strong   that  they  forget  the  fact  that  there   are  100  interesCng  ideas  bouncing   around  for  every  single  truly  good   idea.  
45. Belief  in  IDEA  is  the  Key  to    
46. Refine  your  IDEA  
47. ……a  good  idea  is  not  just  creaCve,   but  actually  improves  on  a   meaningful  quality  or  aNribute,  in  a   way  that  can  be  pracCcally  applied  to   the  world  (or  the  project).  
48. 48   On  Ideas      If  a  man  makes  a  be+er  mousetrap  than   his  neighbor,  though  he  builds  his  house  in   the  woods,  the  world  will  make  a  beaten   path  to  his  door.             Ralph  Waldo  Emerson  
49. 49   Business  Concept    The  manufacturer  who  waits  for  the   world  to  beat  a  path  to  his  door  is  a  great   op>mist.    But  the  manufacturer  who   shows  this  “mousetrap”  (and  its  value)  to   the  world,  keeps  the  smoke  coming  out   his  chimney.                 O.B.  Winters  
50. Reflect  the  following…..  
51. So  unCl  the  concepts  and  hard  parts   are  fleshed  out  enough  to   demonstrate  that  the  spirit  of  an  idea   is  matched  with  specifics,  the  idea   doesn’t  have  much  of  a  foundaCon.    
52. Do  you  have  answers  to  these  ….   •  What  problem  does  this  solve?     •  What  evidence  is  there  that  the  problem  is  real,  and   important  enough  to  solve?     •  What  are  the  toughest  logisAcal  challenges  implied  by   the  idea,  and  how  will  (or  would)  you  solve  them?     •  Do  you  have  a  prototype,  sample  or  demonstraAon  of   an  implementaAon  of  the  idea  (aka  proof  of  concept)?     •  Why  are  you  the  right  person  to  solve  it?     •  Why  should  this  problem  be  solved  now?     •  Why  should  we  get  engaged  with  you  to  solve  this   problem?    
53. Project….SCOPE  
54. Project…  Scalability    
55. STRUCTURING  YOUR  PITCH  
56. IniAaAon   • ALenAon   Body   • Interest   Finishing   • Desire   and   AcAon  
57. IniCaCon   What  you  would  say  if  you’re  only  given  net  5   seconds  for  pitching  ?  
58. IniAaAon   •  5  Sec  +  30   Secs   Body   •  4  mins   Finishing   •  25  Secs  
59. IniCaCon   •  This  is  where  you  say  something  that  grabs   aLenAon  of  the  catcher   •  This  is  where  you  project  the  perspecAve  of   your  business  idea   •  See  far  ahead  …  Define  your  business  richly  
60. How  you  see  it  ?   Discovering  DNA “I’m  researching  how  human  cells  reproduce”
61. How  you  see  it  ?   DefragmenAng  hard  drives “It  makes  computers  run  more  efficiently”
62. How  you  see  it  ?   InvenAng  light  bulbs “It’s  a  way  to  bring  light  to  your  life”
63. How  you  see  it  ?   Improving  anA-­‐lock  brake  algorithms “It  improves  automobile  safety”
64. What  are  you  doing  ?  
65. IniCaCon  –  30  seconds  pitch   •  Story  Sells   •  Quote  would  be  interesAng   •  Experience   •  What  your  customer  said   •  How  did  it  all  start     •  Data  and  Graphics   •  SHOULD  MAKE  SENSE  FOR  BUSINESS  IDEA  
66. The  Body  –  4  mins   1.  Opportunity  /  Gap     2.  Value  ProposiCon  and  how  it  bridges  GAP  (also  Target  Customer)   3.  Special  Advantage  and  Business   3.  Product  and  Features  (What  does  it  do  ?)     4.  Phases  of  Development  and  Time  Plan   4.    Revenue  Model,  MoneAzaAon    and  Sales  ProjecAon   5.  MarkeAng  Strategies     6.  Team  and  Management   7.  Investment  Required   9.  KPIs  
68. The  Body  –PresentaCon   •  Color  Choice   •  Use  Graphics     •  Flowcharts  –  Process  Diagrams   •  Present  Data  Well     •  OpAmum  AnimaAon   •  Non-­‐Verbal  Cues    
69. Finishing  –  25  seconds  
70. Finishing   •  This  is  when  you  leave  the  lasAng  impression   •  This  is  when  you  make  your  final  point     •  A  bad  FINISHING  can  mess  up  everything   •  Only  good  FINISHING  doesn’t  ensure   anything  
71. Finishing   •  Re-­‐emphasize  your  strong  point   •  Show  the  perspecAve  again     •  Relay  the  vision  and  mission     •  End  it  with  a  strong  statement   •  Strong  Commitment  is  always  a  Strong   Statement  
73. BOILING  IT  DOWN  …  
74. 1.  Know  your  audience   •  "Investors  don't  want  to  hear  about  what   you've  got  so  much  as  what  it  will  do  for   them.  Focus  your  pitch  on  interesAng  the   investor.“  
75. 2.  Do  your  Homework   •  "PracAce,  pracAce,  pracAce  your  pitch  before   making  it  to  investors“   •  "PracAce  with  yourself  in  your  vehicle  or  in   front  of  a  mirror.  PracAce  in  front  of  friends,   family  and  people  who  will  give  you  real   feedback.  Remember,  you  only  get  one   chance  to  get  it  right.  Don't  squander  this   opportunity."  
76. 3.  Solve  the  Problem   •  "Answer  the  quesAon  during  the  pitch,  'What   problem  are  you  trying  to  solve?'  “   •  "It  is  amazing  how  entrepreneurs  come  up   with  a  'cool  idea,'  but  they  do  not  tell  us  what   the  pain  point  is  —other  than  the  fact  that   they  think  it's  cool."  
77. 4.  Tell  A  Story   •  Every  entrepreneur  should  know  the  numbers   behind  the  product  backward  and  forward.   But  when  pitching  it,  that  stream  of  data  is   more  likely  to  alienate  than  inspire  investors     •  "An  investor,  a  customer  or  an  employee  must   be  able  to  tell  your  story  to  others."  
78. 5.  Demonstrate  your  Passion   •  …..idea  that  smiles  are  contagious.  The  same   can  be  said  for  passion—an  essenAal   ingredient  of  any  pitch.   •  "Investors  know  that  even  truly  great  business   ideas  are  incredibly  hard  to  successfully   execute,  so  you  beLer  convince  them  you  are   commiLed  and  know  what  you're  doing  if  you   want  their  money."  
79. 6.  K.I.S.S.   •  Keep  It  Short  and  Sweet   •  "Verbose  presentaAons  will  not  impress   investors  and  will  most  likely  turn  them  off.   Inspire  confidence  in  your  investors  by  being   short  and  sweet."  
80. 7.  Talk  Up  the  Team   •  ….  emphasizing  the  great  team  that  you  have   to  deliver  your  great  product  can  give   investors  the  push  they  need  to  pull  out  a   checkbook.   •  "Business  models  and  go-­‐to-­‐market  strategies   may  change,  but  I  want  to  know  that  the  team   has  what  it  takes  to  deliver,  and  that  should   come  across  in  a  pitch  meeAng."  
81. 8.  Act  Naturally   •  "You  need  to  relax  so  you  can  demonstrate   just  how  knowledgeable  you  are  about  the   problem  you  are  solving  and  how  excited  you   are  about  your  soluAons"     •  "Investors  are  trained  to  see  through  an   entrepreneur's  'smoke  and  mirrors,'  and  they   are  good  judges  of  character.  
82. 9.  Have  a  Backup   •  "stuff  happens“   •  "An  entrepreneur  needs  to  understand  and  have   an  acAon  plan  for  the  downside  case,“   •  "A  downside  case  is  not  just  a  must-­‐have   scenario.  It  must  translate  into  how  the   investment  would  likely  be  recovered  if  the   venture  failed  at  various  stages  of  development."  
83. 10.  Make  it  Snappy   •  Investors  want  to  hear  you  and  get  a  3-­‐D  view   of  your  product.     •  "You  must  realize  that  you  have  less  than  two   minutes  in  general  to  be  able  to  get  the  core   message  across  to  your  future  lenders.  Make   sure  your  pitch  is  succinct  and  thorough  at  the   same  Ame.“  
85. ALL  THE  BEST