Naval Ravikant http://angel.co/ & venturehacks.com
Jason Cohen capitalfactory.com
- Leave them a one liner they will remember.
- Short, one sentence, and not too cheesy.
- Tell the story, slowly. Shorter than 90 seconds.
Setup the Pitch
- Who is the user, how are they using the product to solve their problem. Believe it when you are saying it.
- What is the market, how is the market growing, how did you assess the market, why is your tool going to address this market
- Be specific – what is the goal of your product. Don’t focus on the mechanisms, instead focus on the results.
- Remember to:
- Setup something interesting that you are trying to solve
- Why are you doing this particularly better than others do it
Prepping the Pitch
- Practice! Don’t read it quietly to yourself – do it front of people. 100 times at least!!
- Shouldn’t come out as rehearsed, but you should be. Don’t memorize it, should have imbibed the content/idea
- Record yourself – pay attention to your mannerisms, how fast you talk etc,
- Killer closing, then don’t just say I’m done.
- Think of your pitch in the sections. If you get stuck, just skip to the next section. The user does not know you stumbled.
- Ruin your credibility by throwing out non verified numbers. Lift, % of growth, all important to mention – but only if you have the facts.
- Social proof really works. “These federal agencies want to try us out”. Carry photos – “We built this” esp. for unique products.
- If you can’t do story telling, go more fact based. “There are 100s, 1000s of people who are trying to do this, but “They come back 3 times”, “partnerships with..”, “our social & facebook connectors allow us to increase the customer base x times”
- Don’t make blanket statements.. like “We all know Amy”, instead say “I know Amy and this is her problem”. Don’t use canned users. * * Also only need to give a name if you need to reference the person later in your pitch.
- Find a good analogy that can really shortcut the entire setup process for you.
- If you have a good background, i.e. I previously founded xyz company which did this – and sold it here. Allows you to look like the expert without saying you are the expert.
- Try positive spin – don’t ever doubt that someone in your audience likes or uses the thing that you diss.
- Two different types of pitches
- different between the in front of a large audience – to customer or more detailed in front of an angel investor
- angel pitch should prompt more questions & a conversation.