Whether you make a full presentation pitch, a short "elevator" pitch, in person or via video, your presentation requires practice and knowledge. Be prepared to close the first and the most important sale of your entrepreneurial endeavor. Refine the executive summary of your business plan into its core elements to present to a panel of possible investors, advises Gleeson.
Getty Images When you pitch a company on your idea, you have just a few seconds to grab its attention and pique its interest. There's no better way of doing that than with a visual aid. When I began pitching my ideas to potential licensees way back in the '80s, I had an illustrator hand-draw my ideas.
More recently, I've been encouraging my students to hire graphic designers to help them craft colorful one-page sell sheets that feature images of their idea.
Sell sheets still have value, but these days, the best way of showcasing the benefit of your idea to a potential licensee is to create a short video. Understanding why is easy: It resonates with people instantaneously. We love to watch it.
If a picture is capable of expressing a thousand words, how much more can a video communicate? Simply put, it's the best way of engaging a potential licensee in the short amount of time that you have.
My belief in the power of video is based on the experiences of my students. Over the past few years, it's become increasingly clear that those who are including a link to a short "infomercial" they have created within their sell sheets are experiencing a lot of success.
And if a company is interested, they are getting back to the inventor much more quickly than the norm. You may be thinking, "But I don't know anything about how to create an awesome video!
Part of the reason I'm now recommending this path to everyone is because technology has made it so easy to do. You can film an effective video using only your smartphone. You don't need special lighting or sound equipment.
You don't even need music--it's distracting.
The best videos are concise and simple. They present a problem and how your idea is a solution. Your goal isn't to answer every question a potential licensee will have--it's to leave the viewer wanting more. Of course, to film a video, you will need a prototype of your idea. But your prototype doesn't have to work flawlessly or even look great, because there are ways of editing and filming your video so that your message gets across without a perfect prototype.
You could cannibalize existing products to create it, for example. Before you get started, you should familiarize yourself with some examples of what I mean. The best videos to watch are from direct-response television industry companies like Telebrands and Allstar Products.
They've been pitching ideas via short videos for many years now. As you will see, the format is simple.The Elevator Pitch.
Business planning expert Tim Berry talks about the business pitch, how to craft your pitch, what your goals should be, and what investors want to hear. Looking for training videos on Business Plan Pro? Visit our videos on our company site.
Recent Blog Posts 7 Must-Dos Before Starting a Company. Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News. The owner of a small business should be heavily involved in the preparation of his company’s annual business plan, including the marketing plan section.
As the company grows, he might delegate the preparation of the marketing plan to his marketing or sales manager, who then presents or “pitches” the plan to the owner.
Video Podcasts Start A Business Subscribe Books. Starting a Business 6 Steps to the Perfect Pitch wrote a business plan and set out to seek financing. With a little hustle, I managed to get us. (Video by Dave McClure) How to Pitch a VC (Slide Deck Only) - Dave McClure.
SEOmoz (Pitch Deck on their Success) LinkedIn's Series B. Amazing Annotation on the rationale behind every deck. Guy Kawasaki. The Art of Raising Venture Capital. Business Insider's.
Best Startup Pitches of All Time. TED Talk -VC pitching. by David Rose "Share the. The Elevator Pitch: Your Ticket to the Top with an audio recorder, with a web cam, or with the video recorder on your phone or digital camera.
Be consistent: Once you settle on your message, your elevator pitch, the first few paragraphs of your business plan, your pitch deck, and the About Us page of your website all need to convey the same.