chapter 16: pitching to launch

planning

a process of envisioning the future for your business

pitch

the act of clearly presenting and describing a new venture that includes a call to action

business brief

a 2-3 page document outlining the company overview, value proposition, customers, and milestones

business plan

considered the most formal planning tools

title (1)

• company name

• logo

• your name

• contact info

company purpose/ description (2)

• why does your business exist

• develop one sentence that describes what your business does

Problem / need (3)

• describe the problem and need for your idea

solution (4)

• if possible show a live demonstration, prototype, or picture

• show a “use case” - how a user will interact with your product or service

market opportunity (5)

• total available market (TAM): total market demand for a product or service

• serviceable available market (SAM): the section of TAM that your product or service intends to target

• share of market (SOM): the portion of SAM that your company is realistically likely to reach

getting customers (7)

• who are your customers and how will you reach them

• talk about your interactions with customers and what you have learned about them during your planning

• simple calculation

  • number of customers X price X frequency of purchase = market size $

competitor analysis and differentiation (8)

• show are your company differentiates itself from others

• competition shows there is a market!

traction (9)

• describes all the work you have done to date to build

  • contracts with suppliers

  • product testing

  • working website

  • completion of customer research

  • formation of team

financials (10)

• highlight key drivers of revenue and expenses

• show that you have an understanding of potential profift

team (11)

• show that you have the right team with the right skillset

• include team members experience and education

call to action (12)

• money

• advice or feedback

• team members to join you

public speaking tips

• practice but dont memorize

• pay attention to time restrictions

• dont hold anything in your hands

• dont read slides

• dress the part

• eye contact cannot be faked

• learn to improvise

• move but dont pace

• embrace your nervousness

feasibility study

internal tool that enables entrepreneurs to test the possibilities of an initial idea to see if it is worth pursing

concept statement

a one sentence to one paragraph description of your vision for your product or service

hook

the opening tactic used in a presentation that immediately captures your audiences attention and imagination so they will be motivated to listen to whatever you say