communicating your business idea

Communicating Your Business Idea

Business PlansExecutive Summaries

Elevator PitchesInvestment Pitches

by

The Elevator Pitch

You are a human. Talk like one.

Be Succinct.

• Your first two sentences are the most important.

• Your listener has already decided whether to continue listening or tune you out.

Get to the point.

• It’s not about you. Focus on your business.

• Mention values and goals, not a laundry list of skill sets.

Watch your words.

• Cut out unnecessary words and passive verbs.

• Leave out the jargon and platitudes.• CRM, SEO, SKU, OMG – they have no place

here.• Every business is “customer-oriented” and

“results-driven”.

Be creative!

• Have fun with what you say. Fun is infectious.

• Describe what you do in unique terms.

Practice, practice, practice.

• An elevator pitch does no good staying on paper.

• Words may sound different in your head than they do aloud.

• Practice with family and friends. Get their feedback.

Harvard Business School’s Elevator Pitch Builder:

Exercises

Try the Twitter Challenge140 characters

or less!

The point of the elevator pitch is not to answer their

question, but to them to ask for more.inspire

The Investment Pitch

Why should I invest in this idea?

How will this become a profitable venture?

How is this a unique opportunity?

Where’s the proof?

What investors want to know:

The problem

• What is your product or service solving?

• Empower your audience to empathize and understand the need.

Market size and competitors

• How big is your market? Who are your competitors?

• How are you doing things different?

• What is your “unfair advantage”?

Business model and management

• How are you going to make money?

• Who are your key team members?

Marketing and promotion

• How will you get the word out? What mediums will you use?

• What are your distribution channels?

• Have you formed any partnerships?

Financials

• How much do you need and how will you spend it?

• How does this translate to the investor?

• How soon will their investment pay off?

• What are your sales projections? Graph jam!

Expect it.• Don’t let smart phones, iPads or lunch steal the show.• Make your pitch engaging.• Prepare to be interrupted with questions.

Know your deck.Know your business.Know your audience.

The Executive Summary

Summaries are for people who don’t want their time wasted.Executive summaries are for people who don’t want their time wasted.

“The purpose of the executive summary is to

sell, not to describe.”--Guy Kawasaki

Set the stage

• The first two sentences will set the tone for the rest of your summary.

• Grab your reader or listener’s attention.

Answer their questions

• Why is this important?

• What is your solution?

• How will you get there?

The Big Ask

• How much do you need to reach your next milestone?

• Give your audience a clear idea of what you need. Include down-the-road projections, too.

Other considerations

• Four pages. Max.

• Use positive language. Negativity does not inspire.

• Write different summaries from different audiences.

• Seek advice from others!

What’s yours?

“Strategy without tactics is the slowest route to victory. Tactics without strategy is

the noise before defeat.”- Lao Tzu

Secured a loan

Secured investment capital

Grew my business

18%

18%

43%

36%

36%

64%

Business PlanNo Business Plan

Source: Palo Alto Software (http://timberry.bplans.com/2010/06/real-data-on-the-success-of-business-planning.html)

2010 Survey of 3,000 Business Owners

Essential Elements

Business Plan

Executive Summary

Company

Market Analysis

Products & Services

Marketing StrategyCompetition

Operations

Organization

Financial Analysis

Seek advice from others.Use your plan as an internal resource.

Communication is key.

Christy RezaiiWeb Strategist. Digital Copywriter.Rooter for the Underdog.me@christyrezaii.com@crezaii