Pitch competition · Fundraising

How to give a 1 minute pitch?

Maria Ed.D Discover your greatness with our mobile tutoring apps. As you get smarter ►► We get smarter ◄◄ It’s a Winning cycle!

August 9th, 2016

What are crucial points to make in a 1 minute pitch?
More than 65% of new companies fail because they lack funding. In this course, you’ll learn common fundraising mistakes, how to nail an elevator pitch, how to craft a killer pitch deck, where to source investments from, and all about term sheets and convertible notes.

Thomas Eide Global Payments & Fintech Expert

August 9th, 2016

Easy!!  Keep your pitch one very clear sentence about what you do and why that person wants to be your customer.

(i.e My company connects clients to personal shoppers through live streaming video to shop for anything from any store in the world.)

It doesn't matter who your audience is, your job is to make sales.
It doesn't matter if it's one minute or 15 seconds.
It doesn't matter if your audience has objections. In fact, objections mean that person actually cares (great start)!
It doesn't matter who your competitors are or aren't.
It doesn't matter if people interrupt you.
You don't need a pitch pro!

Rehearse and iterate on this sentence until you almost always get new listeners to nod their heads "YES".

Good luck knocking their socks off!!
 

Dimitry Rotstein Founder at Miranor

August 9th, 2016

Details depend on many factors, but in general start with the following:
- The problem you're solving
- The solution
- Competitive advantage
- Current status+traction
- Total addressable market size
- Team

Summarize each in a sentence or two, then put the most impressive ones first (except problem description - that should generally go first). For example, if you have a killer team, start with that. If your customer list grows exponentially, start with that. If you have revenues (or better yet profits) start with that.
Hope that helps.

Greg Miller CEO and Founder at Greg Miller and Associates

August 9th, 2016

In 1 minute tell the audience what you do, who would buy the product or service and why that person would buy it. Practice with a timer to make sure you can say it comfortably in 1 minute. Greg Miller

Rob G

August 9th, 2016

customers/prospects/partners are not interested in an investor pitch.  Investors, while interested in customer value prop, won't care unless you set some sort of seed key to their needs such as traction.  same goes for prospective employees - neither sales pitch or investor pitch is likely to pique their interest. This is why you (and we) need to know who your intended audience is and context wouldn't hurt either.  That said, there is are 2 core components: 'what you do' and 'why it matters'.  The 'what you do' component is common to all audiences.  If you give them know point of reference for what you do then the rest doesn't matter - they need context. the 'why it matters' component should be targeted to the audience.  You should therefor have a few different 1 min. pitches with different 'why it matters' hooks: 1 for users/customers/prospects, 1 for investors, 1 for potential recruits (employees, partners, etc.) plus a generic in case you don't know who you are pitching - the cocktail party pitch. In 1 min. it is highly unlikely your objective is to close a sale, your objective is to pique interest and elicit a more detailed conversation.  This is why you will need to also have a few different 2 min. pitches as well as multiple 'long format' pitches/stories. 

Ismail Berkan Lean Innovation Consultant | Digital Strategy & Transformation Advisor | Startup Mentor & Coach

August 9th, 2016

One minute startup pitch template:

Did you know that (customer category) experience (massive pain)? This is a (market size) billion dollar opportunity in the US alone. (Product name) is a (product category) that (value proposition.) Unlike other alternatives we, (key differentiator). The team includes (credible team bios) and we make money by (business model). In essence, we are the (well know analogue) for (analogue product category) and our vision is to (how will the world be different? Why do you care?) We have already (executed milestones) and you must be involved because (invite!)

Source:

Rob G

August 9th, 2016

that depends entirely on who you are pitching to. 

Tom Cunniff Founder at Cunniff Consulting, B2B Brand Consultancy

August 9th, 2016

Say what problem you solve, why you're different, and why it matters.

But don't fall into the trap of "We sell software solutions. Our code is the best. It matters because we help our customers."

Instead, something like "Uber helps you get a safe, secure ride when it's impossible -- even outside the Moscone Center after an Apple event in the pouring rain. Our pool of drivers grows when demand grows. We make sure you get where you're going."

Greg Miller CEO and Founder at Greg Miller and Associates

August 10th, 2016

The advice in this thread is generally similar: some version of problem, solution,customer and value proposition that makes money.  The difficulty is not expressing these in one minute: standard "elevator speech" that all companies should have.  The core challenge is that many of the start ups I work with cannot express these elements with sufficient clarity, whether in 1 minute or 10, or longer.  If you know your business well enough, the one minute version should be easy.  If the 1 minute version is hard, you have more fundamental work to do around your strategy and vision.

Judy Mod CEO + Chemical Engineer = Building Businesses to Fix Complex Problems through the #AccelerationOfInnovation + #AdoptionOfInnovation.

August 11th, 2016

My suggestion is to shift from a "solution" to a "problem" elevator.  In one minute - tell me what business problem that you fix (i.e. what's broken) - why companies need to fix this problem - now (sense of urgency) - why companies are stuck (where are the holes).  Get their attention first on their need to fix a problem before you can get their permission to help them fix the problem.   

Bill Lennan Red Rope Social - everyone is an influencer.

August 13th, 2016

Hi Suzanne, 
years ago, I had a sales trainer explain that there are multiple audiences for a pitch - and figuring out which you are talking with is super valuable. 

I pitch everyone. 
I figure out if they are primarily curious, user, supervisor, financial, or exec audience. 
All 5 are wins because my pitch gets better and anyone can be an influencer. 

Bill