Preparing the pitch Dr. Jon D. Pratt Center for E’ship & I.T October 8, 2009

Answer 5 questions in 5 minutes Capture and retain attention Involve the audience A picture is worth 1000 words 30 point font No complete sentences – 3 to 5 bullets Perhaps 6-7 slides maximum

Practice makes perfect Practice (rehearse) until: The “uhms”, “likes”, “you knows” disappear and you don’t need notes YOU are Contagiously EXCITED and CONFIDENT that: 1.Your solution to the problem is a BIG opportunity and 2.Your plan to take advantage of that opportunity and reach a level earnings that will grow in the future is realistic, low risk and achievable.

Catchy Introduction Grab attention Give simple example that makes audience understand and relate to the problem you solve… Have a catchy name for your product or service

Description of product What problem or need is your product or service solving? What does it do? How does it look? How does it work?

Is your product better than the competition’s? (There is always competition) How is the problem being solved now? Examples of these competing solutions Why is your solution better than this approach?

Customers/markets Who will give you money for your product or service? What are the characteristics of these people? Why will they pay your price? …value proposition How many people will potentially buy your product or service? …market size

Covering expenses Roughly how much per unit does your product or service cost? How do you plan to make money? …revenue models: per unit, per day, per use, advertising, subscription Will this money be enough to cover your costs (including salaries and replacement cost) and allow your business to grow?

We can do this! How likely is it that this product or service will become a reality? The idea is to convey confidence and enthusiasm - to make your audience believe your product can actually get into the market… Roughly how much money and time will it take to begin providing your solution to your customer. What other resources do you need that you do not now have to begin? The skills we do not now have, we can recruit…

Conclusion Summarize and reinforce why your product will be chosen by the customer instead of the competition’s. Summarize and reinforce that the product is feasible Invite the audience to ask questions (just in case: have extra slides available… to address more details during Q&A)