SpaceLab Detroit Urban LaunchPad. Session 4a: Power of Persuasion

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Todd Gregory
5 years ago
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1 1 SpaceLab Detroit Urban LaunchPad Session 4a: Power of Persuasion

2 Urban LaunchPad sessions update session date topic(s) 1 3/22 Discovering yourself, finding an important problem, talking to humans. 2 3/29 Solving the problem. Technology, the new secret sauce. 3 4/12 Designing your business. 4 4/19 Pitching and presentation, marketing, competitive strategy. 5 4/26 Revenues and costs, business plan, market entry. 6 5/3 Presentation dry run. DD! 5/10 Demo Day!!! Graduation!!! 2

3 Products of this Urban LaunchPad Series Validated problem statement Validated solution & BMC Mission & vision statements Bar pitch Elevator pitch Pitch deck Competitive analysis and strategy Finance strategy Market entry strategy Business plan exec summary Organization Resources and contacts Team resumes Copyright (c) 2018, ebuktu Media LLC 3

Speed-pitching and slow drinking: 4/26/2018 Team pictures TODAY Team

One-liner Elevator pitch Investor Pitch Three key

10 Concise Compelling One-line pitch Your one liner should be a delicious morsel that makes the listener hungry for an entire meal, or at least an appetizer! It s the answer to the question: So Chanel, what do you do?

11 Key One-liner elements What you do Who you do it for The benefit or advantage of what you do

I run workshops that help entrepreneurs create gamechanging

Examples I run AccelerateKid, a company that gives kids age 6-12 the

I run a company that makes a hospital restroom monitoring system that

12 I run workshops that help entrepreneurs create gamechanging urban-focused businesses. Examples I run AccelerateKid, a company that gives kids age 6-12 the knowledge and confidence they need to start a business later in life. I run a company that makes a hospital restroom monitoring system that prevents the spread of deadly bacteria that can happen when people don t wash their hands. Copyright (c) 2018, ebuktu Media LLC 12

13 Referenced pitch X for Y: Kumon for Entrepreneurship Yelp for Medical Marijuana Airbnb for car rental See web article.

14 Combo pitch My company helps people make extra money by renting their personal automobile. It s like Airbnb for cars.

15 One liner: do it!

16 20 to 90 seconds Captures the attention of the audience Contains the key aspects of business proposal in summary form Objective: a follow-up meeting Elevator pitch Copyright (c) 2018, ebuktu Media LLC 16

17 Your name (and/or your company name) Problem you are solving Elevator Pitch Elements Customer you re solving the problem for Your solution (product or service) Your unique selling proposition

18 Elevator Pitch Example: Johnny Reaves Bottle Collection Service Hi, I m Johnny Reaves. Empty soda bottles take up space and attract bugs. This is a problem in every house where soda is consumed. My service returns those empty bottles to the store and saves the homeowner time and trouble, and gets rid of clutter and we pay them for the bottles! We use a neighborhood kid to collect the bottles, not some stranger. We tell our customers: when you finish drinking those sodas, don t mess around - when the liquid leaves, call Johnny Reaves!

19 What makes an effective pitch? Clear product description Solid, exciting concept If it doesn t excite you, it won t excite anyone else Viable not pie in the sky Big idea/market seems like a money-maker Unique selling proposition why you? Clear, confident presentation Sounds natural, not forced or formal Copyright (c) 2018, ebuktu Media LLC 19

20 Identify your goal (what are you trying to accomplish?) Explain what you do Putting the pitch into practice Communicate your USP (why YOU?) Engage your subject with a question (not yes/no) Put it all together Practice!!! Leave your subject with a business card or brochure. Eliminate unnecessary information. Copyright (c) 2018, ebuktu Media LLC 20

21 Business Opportunity Presentation 21

23 23

25 Describe the Solution Briefly describe your product or service How does it address the problem? Value proposition(s) Pains relieved/gains created/key features & functions Primary customer segment(s) Jobs/persona/demographics/psychographic s Needs/desires/ pains felt

27 What industry will you operate in? Industry characteristics? Industry, Market What is the market type? Existing, new, segmented, niche, clone? How large is target market? # of customers $$$ How will you enter the market? How will you get/keep/grow a customer base? Copyright (c) 2018, ebuktu Media LLC 27

29 How will the business make money? What are the key activities? What are the key business resources? Business Model What are the key revenue drivers? What are the key cost drivers? What partnerships does the business depend upon or leverage for success? Do NOT use Business Model Canvas to illustrate this it s too arcane for general consumption! Copyright (c) 2018, ebuktu Media LLC 29

30 Competitive Strategy Who are the actual and likely competitors? Direct Indirect What are the competitors value propositions? How will you position your product or service against the competitors? Express in terms of your business model

31 Current team members Role, key skills of each Team Additional team members/roles needed to complete customer validation Skills needed How will you acquire needed team members? Copyright (c) 2018, ebuktu Media LLC 31

33 Summary and Next Steps Project timeline How long to MVP? How long to break even? What do you need to finish proving product/solution fit? (finish customer discovery)? $$$? How much, for what? Other needs? What do you need to finish proving product/market fit (finish customer validation)? $$$? Other needs?

34 10 minutes MAX! Ground Rules for Presentations 5 minutes for Q&A 10 slides MAX Presentations judged on content, delivery, overall effectiveness

36 Let s Hit It! 36

Investor Pitch Deck Template

Investor Pitch Deck Template 2 What Your Pitch Deck Is For The purpose of your Investor Deck is not to answer all possible questions. It is to get people interested in learning more. The story you craft