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Making a Great Elevator Pitch

Making a Great Elevator Pitch. Prepare Message Map Then 1 or 2-minute pitch Introduce yourself and your team Remember to smile from time to time Tell us what you are pitching (short title) Tell us what problem you are trying to solve Start by laying out your value proposition.

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Making a Great Elevator Pitch

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  1. Making a Great Elevator Pitch • Prepare Message Map • Then 1 or 2-minute pitch • Introduce yourself and your team • Remember to smile from time to time • Tell us what you are pitching (short title) • Tell us what problem you are trying to solve • Start by laying out your value proposition

  2. Value Proposition • How exactly does your product or service benefit a single client or customer? • Show how by buying your product or service, a client can make money from it or lower their costs or do both • Introduce some ‘pixie dust’ or differentiated value • Create a sustainable enterprise with a long term competitive advantage

  3. Delivery • Please name your group/sign up for our pitch event/L3, Lecture 3 • Practice! Record your pitch on YouTube • Group gets up to give elevator pitch • Max 2 mins/1 or more may speak • Can use props or message map but not slides • Feedback from class and prof • Re-record and submit for Lecture 4

  4. Elevator Pitches • How to make an EP, Sean Wise http://www.youtube.com/watch?v=Tq0tan49rmc • Elevator pitch twist http://www.youtube.com/watch?v=98WlZJqscVk • “We put your brand in their hand” http://www.youtube.com/watch?v=i6O98o2FRHw • 6 Elevator Pitches for the 21st Century http://www.youtube.com/watch?v=XvxtC60V6kc

  5. What is a Message Map? Precedes 2-minute Elevator Pitch Summarizes your value proposition Forbes Contributor Carmine Gallo’s recommends creating visual display of your story on one page But start with twitter-friendly (140 characters or less) message summarizing (one) over-arching purpose underpinning your mission, organization, enterprise, value proposition

  6. What is a Message Map? Next add three or four supporting points Adding depth and understanding for your audience What it is you do and can do for customers, suppliers, channel partners, employees and community—your stakeholder ecosystem Expanding on each of your three or four main points by adding a few bullet sub-points Sub-points need to be specific—data, examples, statistics, stories

  7. Message Map Skuzzles creates limited edition cult-classic posters MIND SOUL BODY Unique Customer Connection High-Quality • Deep understanding of customer and culture • Continuous feedback loop • World-renowned artists • Limited # posters • Limited sale time • Silk-screen printing • Kraft-tube shipping • Major motion picture licensing http://youtu.be/yB4eTf_WfEw

  8. Haider Ali & Dave White

  9. Business Model Skuzzles Website: www.skuzzles.com (also own .org and .ca) Facebook: /skuzzles Twitter: @Skuzzles Marketing (next slide) Supplier 2nd Supplier 1st Customer 1st Customer 2nd Software Suppliers (ex. Adobe Photoshop) Art Supplies Artists Secondary market shoppers (i.e. eBay, in-person trading) Fans of the Film Fans of the Artist Fans of Skuzzles Fans of the Artwork Flippers (buy/sell prints to reap profit) Print Equipment Supplies (paper and paint) D&L Screen Printers Movie Production Studios Intellectual property (movie and all aspects associated with movie) Human Capital (website development) Shopify Movie production companies MayFair Theatre Competitive Advantage major movie production studio licensing established relationship with suppliers and established community existing product line diverse staff skill-set customer connection (know what they want by listening to their needs) Value Proposition unique, one of a kind prints limited edition collectible items (typically high resale value)

  10. Marketing Dimension Blogs ExpressoBeans.com • consistently reach #1 spot on this website by utilizing our community network Prizes/Giveaways Include extras in shipping tubes Social media / networking (Facebook, Twitter, Reddit) Host events at theatres and attend film festivals Give prints to people with popular Youtube channels Get artists to promote the print through their website and social networking platforms

  11. Two Final Thoughts Scalability Goals • Increase followership • Increase the number of number of prints offered In an attempt to: • Turn the supply side (movie production) into a profit center through promoting upcoming movies • Compensate artists with prints and exposure IRR (current)IRR with goal attainment 87% 183% (minimum)

  12. Thank you! Questions?

  13. What is a Message Map? Message maps, according to Gallo, work each and every time with complex concepts, products, services More complex it is, more you need message map

  14. What is a Message Map? Allows clear, concise communication not only by leaders but also frontline, customer-facing employees, developers, product managers, sales people, marketing agencies as well as enterprises upstream and downstream in business ecosystem Explains what you do in 15 seconds! Gallo on YouTube: http://youtu.be/phyU2BThK4Q

  15. Example– GradeATechs.com • "You know people can either disassemble their PC, put it in their car, take it to a local repair shop, be told it'll take two weeks and will cost $150 only to find out that it will really take three weeks and cost 250 bucks and that their hard drive got accidentally wiped. Alternatively, they can log on to or call GradeATechs.com, make an appointment and have a highly trained, certified Grade A Tech come to their home or business and fix the problem in a couple of hours for $120, guaranteed."

  16. How Big is the Opportunity? • Never say that if you could just get (say) 1% of this (really huge) market, you would be set for life. • Will the enterprise outlive the founder? • Example: “The computer repair industry is huge and growing fast and the repair industry is full of 'mom and pop' shops—it’s an industry that the established players aren’t particularly interested in. At any one time, about 30% of the PCs and laptops in the US and Canada aren’t working up to their potential—that’s around 180,000,000 computers that need our help!"

  17. Work in Some Other Stuff • Talk about your business model • Talk about your team • Talk about your technology • Talk about why you think you are going to be successful—what you actually bring to this • Talk about how you are going to generate cash

  18. Example—GradeATechs.com • "What's neat about GradeATechs.com is that we have a backend system called GASnet, which basically matches our Techs with our clients—clients give us a couple of windows when we can do a site visit and then our Techs can log on to GASnet and take the jobs they want; maybe, for example, the ones closest to where they live. Plus we have an endless supply of workers too—there are engineering and CS or IT students at colleges and universities in practically every major city who want to make 25 bucks an hour!"

  19. Example—GradeATechs.com • “Our cash conversion cycle is actually negative at GradeATechs.com. As soon as we complete a job, our techies use GASnet to bill the client’s credit card. We have practically no receivables and we get paid, on average, one week before we have to pay our major supply cost– the techies!”

  20. Marketing • How do you intend to drive sales • Opportunities are useless if you have to spend $2m on a Super Bowl commercial before you get your first client • How will you cost-effectively market your products or services (i.e., sign up clients or customers without heroic efforts)

  21. Example—GradeATechs.com • Started with signs on telephone poles and street lights • Used lawn signs • Plus hand bills and flyers • High page rank from Google

  22. Every Great Elevator Pitch must Meet Four Key Tests • Must be succinct: you’ve only got one or two minutes. • Must be easy to understand. Both your grandma and your grand kids have to get it. Your product or service should appeal to more than one generation. • Must be greed inducing. Investors want to make money. Clients want to know that buying your product or service is a negative cost—the benefits generated are greater than its cost. • Must be irrefutable. If your Elevator Pitch leaves the investor or customer with more questions than answers, you’d better go back to the drawing board.

  23. GradeATechs.com: A Success Story

  24. GradeATechs.com: A Success Story • OTTAWA, ONTARIO • BELLEVILLE, ONTARIO • BROCKVILLE, ONTARIO • GATINEAU, QUEBEC • KINGSTON, ONTARIO • MISSISSAUGA, ONTARIO • MONTREAL, QUEBEC • NEW TECUMSETH, ONTARIO • OAKVILLE, ONTARIO • TAMPA, FLORIDA

  25. Getting Organized • Split into teams • 2 to 4 persons per team • Decide who is going to make the pitch (max of 2) • Prepare the pitch • Practice and critique your pitch/record for YouTube

  26. The Pitch • Assemble the whole team at the front of the class with your pitch person in front • Don’t go overtime • Have fun!

  27. The Pitch • Re-record YouTube pitch and submit URL for L4 • Don’t forget to read: http://profbruce.tumblr.com/post/65789207987/how-to-make-a-great-elevator-pitch-for-any and http://www.dramatispersonae.org/?p=87

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