pitching your business, product, and self in under 5 minutes
DESCRIPTION
Building a well rounded presentation that clarifies who you are, what you do, where you stand, and where you’re going all within 5 minutes can feel like an impossible undertaking. But when speaking concisely and in a structured fashion, while anticipating and addressing any questions you think your listener may have, nailing these points in an effective manner can be surprisingly easy.TRANSCRIPT
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
ifridge & CompanyPitching Your Business, Product, and Self in Under 5 Minutes
Jesse Waxman, Associate, ifridge & CompanyMay, 2013
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
Daniel KraftFounder & Managing PartnerCreative mind, communicator, investor
Stefanie LightmanFounder & Managing PartnerMarketing veteran, keep-it-real expert
Markus von AschoffDirector & General ManagerStrategist, translator from product to market
ifridge & Company
Who we areWe are entrepreneurs. We support those who have the courage to start a company. Consider us your secret co-founder who supports you in taking the next step.
What we doWe build great companies, and we’re here to help you to do the same. Our engagements range from mentoring to a full set of services from strategy to operations.
Who do we helpWe work directly with founders or executive teams who have the drive to start something. Structure is less important than the vision and the people behind it.
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
What’s the problem? How do you solve it?
Start with a single line about what your product does.
Illustrate a real problem.• Either give a personal and relatable example or use statistics to show the
issue.• Lead the listener to sympathize with this problem and to desire a solution.
Then dig deeper into what your product or service is.• How do you solve the problem discussed above?• Present something tangible: screenshots, demos, prototypes, etc.
Ensure that the benefit to all parties involved is made obvious, not just the end user.
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
Show me the money!
What is the market you are targeting and how large is that market?• Be prepared to defend why you’ve decided to go after a specific niche.
How are you going to make money?• Clarify who you’ll be charging, and with what pricing model.• How will you market your company, and what will be your distribution chain?
Address any competition, direct or indirect• Having a few extra features isn’t enough• What will prevent people from copying your model?• Do you have anything proprietary?
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
Where do you stand?
Show that you either have or can develop a very strong team• Give headshots and a few bullet points of accomplishments to legitimize your
group.• Try to project a sense for your company, your values, and your culture.
What will make you a good leader?• Successful entrepreneurs and successful CEOs can be very different people—
sell the idea that you can be both.• Mention any experiences you’ve had that gave you expertise in this specific
industry.
How far have you come so far with your business? Any landmark moments?• Numbers on sales, revenues, or usage metrics help.• Display logos of awards, media recognition, or elite programs your company
has been involved in.
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
Where are you going?
Give a glimpse into the future• Timelines for major moments ahead (like breakeven point) and calculated
projections on the metrics you use. • What are the next steps in your business?
What are you looking for?• Clarify exactly why you’re presenting.• If you’re looking to raise money, give an idea of how much you need and what
you’ll do with the money. If you’re looking for users, offer a promotional discount.
• If you’re looking for investors and you’ve put in a significant amount of your own money, state how much (unless it was wasted)
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
Avoid the pitfalls
Be confident, not cocky.
Act with excitement, passion, and enthusiasm, but don’t appear frenetic or disorganized.
Practice, practice, practice! You should know your content inside and out. But don’t memorize a script. Anticipate questions, and prepare your responses.
Use slides for graphical representation of complicated ideas or to illustrate points being discussed.• Limit the amount of text on each slide.• Your slides supplement your presentation, not the other way around.
Simplicity wins. Generally, going for a flashy presentation will distract more than it adds.
Client: [ifridge]Project: [ifridge Corporate]Project Lead: [Daniel Kraft]
Stefanie LightmanFounder & Managing PartnerMarketing veteran, keep-it-real expert
Thank You
[email protected]/DanielKraft
@SBLightmanwww.ifridge.com/StefanieLightman
ifridge & CompanyWebsite: ifridge.comFollow us: twitter.com/ifridgeBackstage: facebook.com/ifridge
North America349 5th Avenue, 7th FloorNew York, NY 10016
EuropeMoltkestr. 2426122 Oldenburg, Germany
Daniel KraftFounder & Managing PartnerCreative mind, communicator, investor