.Pitch. - .How to toss it.
In light of this week's assignment on Alaris, I wanted to dig around for the perfect pitch. Since many start-up founders have the challenging task of networking, it is critical that when given the chance they make the best of these 30 seconds.
Many of us have heard similiar terminoloy throughout our college careers. Your "30 second commercial" or your "elevator pitch" should tell someone in 30 seconds or less, essentially, who what & why. At a career fair, for example, you should introduce who you are, state your educational background, express interest in the company, follow by a supporting fact (such as a news you supposedly read not an hour before getting to the career fair), and close by saying what you want from that recruiter and why you think should get it.
For some people this comes easy, as they are freely able to start a conversation and manipulate it in directions convinient to them. For others, it's a whole other game of awkward silences.
Same, but kinda different, story goes for founders of start-ups. They are continuously tasked with networking, PR, marketing and seeking strategic partners. If given the opportunity for exposure or a potential investor; what should they say? Same 30 seconds they were taught in their undergrad class? How long should they talk? What are the most important points to state? How to end the conversation?
This became interesting to me as I was thinking of what to say in class during the Founders vs. VCs role play/valuation on Alaris. I looked around a bit and found this video by Mark Suster to be the best and most simple how-to guide to the Cocktail Party Pitch.
http://www.bothsidesofthetable.com/pitching-a-vc/
Basically:
Be brief.
Explain the problem.
State your solution to the problem.
Market (keep it specific: state the primary, target market)
Progress (what have you accomplished so far?)
BE ENTHUSIASTIC! about your product.
Be human (talk like a person, not a robot. not the time for industry jargon)
Close (WHAT DO YOU WANT? 1 mili, 2 mili, a contact in the Southwest?
And always, state facts in #s. Otherwise known as $$$$$$$$.