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SIFP Pitch Clinic Strategies for Success

SIFP Pitch Clinic Strategies for Success. September 6, 2011 Alissa Johnson. What to expect today. 9:00 Strategies for Success Competition Logistics Top 10 Mistakes Pitch Style Pitch Content Handling Questions 9:30 Practice Time! 11:45 Wrap-up, Q & A 12:00 Workshop Ends. 2.

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SIFP Pitch Clinic Strategies for Success

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  1. SIFP Pitch ClinicStrategies for Success September 6, 2011 Alissa Johnson

  2. What to expect today 9:00 Strategies for Success • Competition Logistics • Top 10 Mistakes • Pitch Style • Pitch Content • Handling Questions 9:30 Practice Time! 11:45 Wrap-up, Q & A 12:00 Workshop Ends 2

  3. SIFP Purpose Increase the speed and sustainability of social innovation in the Puget Sound region • Learn through training and mentoring to prepare for the competition and improve business planning, messaging, and presentation skills • Engage with mentors, service providers, peer organizations, and donors from across the community • Connectvia the SIFP program and the networks of sponsoring organizations to amplify the impact of all participants  SIFP 2011 Areas of Focus: • Protecting and sustaining our environment. • Educating everyone, from cradle to career. • Strengthening individuals' health, and that of the entire community. • Empowering our youth as social entrepreneurs. … as well as many other important areas of innovation.

  4. Donors and Sponsors

  5. SIFP Tracks For-Profit Nonprofit High school & College

  6. SIFP Funnel 123 Total Applications Accepted 54 Quarterfinalists: 28 NFP, 12 FP, 14 Ashoka $100,000 in grants plus $50,000 investment 28 Semifinalists: 14 NFP, 6 FP, 8 Ashoka 14 Finalists: 7 NFP, 3 FP, 4 Ashoka $70,000

  7. $150,000+ in grants & investments • Grants to non-profits • Two $25,000 grants for Revolutionary Social Innovation • Three $10,000 grants for Sustainable Social Innovation • $6,000+ in grants for Youth Venturesstarted by high school and college age individuals  • $14,000 in grants for innovation in targeted areas • Investment in for-profit entities • One $50,000 investment, subject to customary investment due-diligence processes. • Investment is in form of convertible debt. Terms to be published on http://sifp.net/invest

  8. Mentors and Pitch Coaches • Pitch Coaches • 4 hours with you today • Focus: Polishing presentation materials and pitching skills • Social Innovation Mentor • 2+ hours in person and phone/email • Focus: Suggestions on refining your business approach, clarifying your mission and goals, reality checking financial projections • Private workspace for you to view video of your pitch • Coaches and mentors can access and provide feedback • You can record and upload later versions of your pitch and have your coach or mentor watch and provide feedback Photo Credit: Photostock

  9. Yes, you are on camera • Recording of video and audio of presenter and discussion sessions is for use by workshop participants, now and in future. • It is not to be used in public or posted to youtube.

  10. Assumptions • You’ve watched the Andy Goodman Fast Pitch Workshop http://sifp.net/content/learning • You’ve crafted and practiced your 5 minute pitch Bonus: Reading off the recommended list: http://sifp.net/content/resources

  11. 10 Common Mistakes • What do you do? Unclear what the problem is, who customers/clients are, and how the solution works. • Ignoring competition. Avoids alternatives and how this solution is different/better. • Where’s the proof? Forgets to provide evidence of impact and sustainability. • So… Forgetting the ask that engages the audience. • Poor timing. Rush through the pitch or run out of time. • Words lack clarity. Use of jargon and vague language. • Slide clutter. Visuals are too complicated and distract from what the presenter says. • Unfocused pitch. Disorganized and hard to follow the logical thread of the pitch. • Cold facts only. Too many statistics without the context and story that people connect with. • Crashing in Q&A. Being unprepared for questions.

  12. 10 Common Mistakes Content • What do you do? Unclear what the problem is, who customers/clients are, and how the solution works. • Ignoring competition. Avoids alternatives and how this solution is different/better. • Where’s the proof? Forgets to provide evidence of impact and sustainability. • So… Forgetting the ask that engages the audience. • Poor timing. Rush through the pitch or run out of time. • Words lack clarity. Use of jargon and vague language. • Slide clutter. Visuals are too complicated and distract from what the presenter says. • Unfocused pitch. Disorganized and hard to follow the logical thread of the pitch. • Cold facts only. Too many statistics without the context and story that people connect with. • Crashing in Q&A. Being unprepared for questions. Style Questions

  13. Content

  14. What should I cover? • Andy’s Advice → • Sample min/max decks: http://sifp.net/content/learning

  15. You had me at hello • A good opening line tells me what you do & why I should care • Start with a question • What if busy moms could easily share and trade the things their kids have outgrown with a network of friends, rather than buying new and increasing clutter and waste? • Start with a clear vision or end result • In Seattle only 21% of our 4 year olds come to school with appreciation for books. It could be 100%. Let me tell you how we are changing that number and erasing this learning disadvantage… • Use a metaphor • We make "Foursquare for causes, Farmville for the real world" - an action-oriented social collaborative platform with real life impact.

  16. “What do you do?” • Critical to be clear about: • what the problem is • who customers/clients are • how the solution works

  17. Problem Source: SIFP Example Max Deck • Clearly define the problem • Identify who has this problem • Identify the size/severity of the problem (quantitative) • Slide/story technique to help the audience relate and understand: • Problem scenario or use case (tell the story of an individual person to make it “real”) • Use Pictures! • Credibility from objective 3rd parties and statistics

  18. Innovative Solution Source: SIFP Example Max Deck • How exactly do you address this problem? • How is your solution unique and more effective than alternatives? Describe your product or service in terms of benefits. • This slide should have photos, product/service screen shot, or a diagram so that people can “see” what you do. If it is important to show how your solution fits in with other products or services, show a value chain diagram.

  19. Who else is addressing this problem? • Acknowledge others addressing the same problem • Show how your solution is complimentary, or different/better.

  20. Where’s the proof? • Provide evidence of impact and sustainability. • Story of an example client • “Before” and “After” vision • Outcome statistics, especially if 3rd party and in context (what’s the baseline?)

  21. The Ask Source: SIFP Example Max Deck • What we need now is (specifics) • Use of Funds: • “Hire key talent in ____” • “Expand distribution of _____” • Plan for continuing to grow beyond this funding round (answer the sustainability question) • Sum it up - With your investment/grant support we will [provide what outcome] by [doing what], leading to [what overall good/vision of the world]. Photo Credit: SujinJetkasettakorn

  22. Style

  23. Timing • Countdown clock - hard stop at 5. • Engage the audience with a personal connection, cover the key points judges need to evaluate you, and leave them eager to hear more. • Less is more. But it requires more work! “I would have written a shorter letter, but I did not have the time.” - Blaise Pascal

  24. Clarity of Words

  25. Clarity of Words and Images

  26. Strike a clear path • Information flow • Logical thread: what do they need to know first to understand the rest? Pitch to people who don’t know your organization to find out what is confusing

  27. Tell me a story • Statistics are important… in context • People believe and remember the story

  28. Questions

  29. Don’t Crash in Q&A! • Take time to identify questions you’re likely to be asked and prepare answers. • Brainstorm with coaches/mentors • Note what fellow competitors ask today

  30. Next Steps • Use to watch your pitch video and collaborate with your coach/mentor • Review the sample min/max decks at: http://sifp.net/content/learning • Meet with your mentor to discuss your business approach, mission and goals, and reality check financial projections • Check out the resources at: http://sifp.net/content/resources • Practice, practice, practice your pitch!

  31. Questions?

  32. Appendix: Sample Slides

  33. Insert Your Organization Logo One Short Sentence Description of What You Do Your Name, Your title/role

  34. Problem • Clearly define the problem • Identify who has this problem • Identify the size/severity of the problem (quantitative) • Slide/story technique to help the audience relate and understand: • Problem scenario or use case (tell the story of an individual person to make it “real”) • Use Pictures! • Credibility from objective 3rd parties and statistics

  35. Innovative Solution • How exactly do you address this problem? • How is your solution unique and more effective than alternatives? Describe your product or service in terms of benefits. • This slide should have photos, product/service screen shot, or a diagram so that people can “see” what you do. If it is important to show how your solution fits in with other products or services, show a value chain diagram.

  36. Traction • Org Founded in [YEAR] (and if applicable: Program started in [year]) • [NUMBER] full-time employees, [NUMBER] part-time • In market as of [DATE] • [NUMBER] Clients/Customers • [NUMBER] of partners (if you need them, use logos) • Note patents or certifications or accreditations • Press coverage, awards – only the most important

  37. Market Size • How many potential customers/clients exist that you could serve? • If there are different categories of customers/clients, show how your “market” is segmented. A pie graph or other visual form works if labeled clearly. • Explain how you prioritize the segments - “This is our initial market because…” • If you are a for-profit enterprise, translate potential customer #s to potential $$: • What is your addressable market (# potential customers x price). • What is a realistic market penetration estimate • Credibility comes from objective 3rdparty statistics

  38. Customers: Who do you serve? • Describe current customers/clients. (Show logos if businesses. Note how many customers and if for-profit, average revenue per customer) • If you have no customers/clients yet, use this slide to describe who your ideal customer/client would be. Photo Credit: ArvindBalaraman

  39. Business Model • State how you price your product/service and what it costs you to provide it. • Identify sources of revenue and cost • Judges will be looking for evidence that you are thinking about sustainability and growth, whether you are non-profit or for-profit.

  40. Partners & Collaboration • If partners are critical to your success, note them here (show logos if organizations). • Be clear about what they do for you and the status of the relationship (would like to partner with them, vs. already working together). • If partners aren’t critical to your success delete this slide.

  41. Marketing Plan • What are your key insights about market or customer dynamics? • How do/will your clients/customers find out about your product or service? • Who are the decision makers and influencers of your customer/client? • In what type of sales or outreach activities are you engaging?

  42. Alternatives [Or for-profit: Competition] • Who else is trying to solve the same problem? • How is your approach different/better? • Is there evidence (outcome rates, etc) that supports this? • Sometimes a grid can be a compellingway to visually show this:

  43. Team • Who do you have on your team that will help you execute your plan successfully and what do they bring to the table • Focus on results more than credentials • May also note key advisors • Name, role, logos of previous experience for key people • NAME– CEO • 20+year ___ industry vet • Founder [PREVIOUS ORGANIZATION] • [EDUCATION if relevant] Logos related to experience

  44. Financials • For-profit: Show financial growth "hockey stick" in a bar graph with 1 bar for revenue and 1 for net income for 3-5 years. Clearly label the graph and note assumptions underneath. • Non-profit: Show projected program growth with funding and costs in a similar manner. Differentiate between grants and earned income funding. $XM $XXXK • Key Assumptions: $XXK $XXK $XXK $XK

  45. The Ask • What we need now is (specifics) • Use of Funds: • “Hire key talent in ____” • “Expand distribution of _____” • Plan for continuing to grow beyond this funding round (answer the sustainability question) • Sum it up - With your investment/grant support we will [provide what outcome] by [doing what], leading to [what overall good/vision of the world]. Photo Credit: SujinJetkasettakorn

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