Archive for the ‘General’ Category

How To Pitch To Investors In Under 2 Minutes

Saturday, May 28th, 2011

One of the most frequently asked questions I get from entrepreneurs is, “How do you pitch to investors in under 2 minutes?”

Actually, it’s one of the most important things you may ever need to prepare for in your business, especially in a start-up. In many investment circles around the world, whether angel or venture, you very often find yourself in a position to give a 2 minute pitch to see if someone is interested in hearing more about your business. And, it’s often to a panel of investors who have heard hundreds or even thousands of pitches.

I created a new video that shows you how to pitch to investors in under 2 minutes without the aid of any slides. When you are given the opportunity to pitch your company and all you have is a microphone and a panel of investors waiting for you to pitch, you need to be well scripted and rehearsed for the performance, if you expect great results.

So, I ask you. Are you satisfied with the results you’re getting from the investor pitches you are making? If not, take a look at this:

Without a script indelibly inscribed in your brain, most people will usually run over on time, get cut off, not cover everything you wanted to talk about, or worse, completely lose your way. This cannot and should not be an extemporaneous talk where you condense your 10 minute presentation into 2 minutes. It will not work! This video will show you a proven model for how to script your 2 minute pitch.

I am confident you would agree that the real purpose of the 2 minute pitch is to convince an investor to ask you questions that will ultimately lead to one of two outcomes. Either they will like you enough to continue talking or they can become a resource for you to leverage at some time in the future.

Just last week, at the VCTaskforce in Palo Alto, 10 companies were given 2 minutes to pitch to a panel of angel investors. The panelists were who’s who in Silicon Valley. Tom Cervantez founder of the Harvard Angels and Golden Gate Angels. Raffy Chatav from Silicom Ventures. John Ryan from Band of Angels. And Paul Twombly from Keiretsu Forum. You should see and hear what these people gave as feedback to people who obviously had not really prepared for their pitch. The people who were prepared showed that they had worked hard to ensure that they covered all of the important points in less than 120 seconds. There are many organizations like this where you have 2 minutes to pitch your idea to get to the next level.

Speaking of preparing, that is exactly what this video is all about. You will learn how to have a great opening that will capture the attention of the listener. Following that, you’ll be able to clearly articulate the value of your business by answering 6 questions on the minds of your investors.

After watching this video, you will clearly understand and know how NOT to sound the S.A.M.E. as other presenters. And, you’ll be able to effectively use the Columbo Close, a powerful attention-getting tool, as the last words the investor will hear from you. And, everything you learn here can be used in your next pitch!

The information contained in this video is the result of the last 5 years of delivering workshops and coaching real people. It’s the same information I give out in the first coaching session along with a homework assignment. This is not a sales presentation to get you to hire me. This video contains only “solid nourishment” and no “empty calories” to waste your time or money.

GetAround rocks the stage at TechCrunch Disrupt

Wednesday, May 25th, 2011

GetAround was on stage yesterday at TechCrunch Disrupt in New York. One of the judges said that he had a “holy shit” moment on stage after seeing their demo meaning he thought the product was great. They have an amazing offering whereby you can rent cars from people nearby where you live. Instead of using ZipCar, you can now choose from hundreds and hundreds of personally owned cars to rent by the hour or the day. You can even rent a Tesla right now! And, they have Berkshire Hathaway as their insurance company. That’s a big win for them and their renters. Watch and see below:

Tweak – A new self-service graphic design SaaS

Monday, May 23rd, 2011

As many of you know, I am a huge fan of 99Designs because they have made it incredibly easy for people to get graphic designs from the crowd. In case you are not aware of them, at 99Designs, you hold a contest where many designers around the world submit designs and then they keep their fingers crossed that you select them as the winner. There is usually only one winner in a design contest and all of the other designers get nothing. Is that fair??? I leave that answer to you.

However, there is a new kid on the block…Tweak. This SaaS is a fairly new self-service graphic design site where YOU can use their expertise to create amazingly professional results. They have worked with hundreds of incredibly talented graphic designers and copywriters to build designs that all you need to do is put your logo (unless you use Tweak to design your logo too) and contact information in and you are ready to print! The copy included with their designs is not “Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.”


Tweak

Tweak has done all of the hard design work for you! All you need to do is pick the design, tweak it to make it yours, and print! It’s that simple and their pricing will knock your socks off, especially because you can do this on your own! You don’t even need to wait the 7 days as with the other guys!

I highly recommend Tweak for everyone who needs graphic design work in the area of brochures, flyers, logos, business cards, newsletters and banners of all sizes. Speaking of banners, no matter what size you make it, the result will always be the highest resolution possible on whatever printer you go to. One of the most important aspects to what Tweak offers you is picture perfect and high resolution printing capabilities. Try it out and see for yourself.

Under-promise and over-deliver – a good thing?

Wednesday, May 11th, 2011

I am always on the lookout for resources on the Web that can save me time and money. Several years ago, I used a crowdsourcing Web site to get designers to help me with a new logo and Web site. It was amazing to see how people from around the world would participate in a contest where they had to submit their design and wait and hope to be picked as the “only” winner. I don’t recall how many designs we had turned in, but that’s not the point to this post. I just wanted to introduce the concept of crowdsourcing for graphic design, in case you had not heard about it before.

I always enjoy the chance to under-promise and over-deliver for my clients. Whenever I do this, I make sure that what I do promise is reasonable, acceptable, and most importantly, achievable!  So, several weeks ago I met a new client who was having their logo created by a designer and they were promised 3 individual designs. I asked the CEO if he would be interested in getting more designs from more designers. What I actually said was, “If I could provide you with 10 designs from 10 individual designers in 7 days, would that be worth $1,000 to you?” To which he replied, “Where do I send the check?”

Here are the results of their logo contest:

99designs.comFor some reason, this contest went over-the-top crazy. In the past, usually people submitted designs around the third day or so. This contest had 65 designs submitted on the first day from 24 designers. I don’t believe it was only the prize money that encouraged 325 designers to submit 1,279 designs. I couldn’t believe it when the contest was actually over. It was chaotic and thrilling at the same time.

Was this a good thing? Over-delivering by 1,200% was really fun for me. I know Twyngo certainly thought so! The only downside to over-delivering on this project was that it took them hours and hours to review all of the designs. Eventually, they narrowed the lot down to 16 choices before asking friends, family and others what they thought. Ultimately, they kept going back to one of the two most favored designs. And, now they have a new logo that they are all thrilled with and they have full ownership rights to the logo artwork.

If you have any graphic design needs such as logos, Web sites, banner ads, etc., 99Designs can be your ticket to worry free design while saving tons of cash for other needs.

Space: The Final Frontier? All starships on indefinite hold!

Saturday, April 30th, 2011

While this post is a little off topic, I feel compelled to write about a talk I heard yesterday that absolutely blew my mind. Before hearing Dr. Jill Tarter, Director of SETI Research talk about the work they do, I thought I was comfortable with my interpretation of the phrase, “Think big.” or “Think bigger!” as some people say. The key words in the previous sentence are, “the work they do” because for the time being, they have to say, “the work we used to do.” More on that later.

Dr. Jill Tarter

The main reason for writing this is because Dr. Tarter could have baffled and confused our (little) minds by using terminology and examples that you would need an advanced degree to even begin to understand. But instead, she was masterful at her choices of similes, analogies, and metaphors to help everyone in the audience understand “almost” everything she said, no matter how complicated or thought provoking.

One of the most powerful things she said is something that could potentially be applied to how you describe part of your business or even handle an objection…and I am paraphrasing while trying to recall exactly what she said: When people ask how much of space SETI looks at for ET’s, she held her hand up and said , about that much. So whether it was actually 100 square degrees or 10,000 square degrees, we all got a crystal clear picture of how little they have explored so far, but yet how exciting it is already with what they have discovered in just that one hand!

What a great visual! No questions and everyone got it immediately. It was very powerful and she has two of them with her at all times. So when they double the space they look at and listen to, two hands will convey the message, instantly. The hope is that one day, SETI can look out in all directions for discoveries that we can only begin to imagine.

Here’s another really great example that could potentially be used when dealing with an objection in your business… When someone says to you, “Well, from what you have shown me, the results clearly indicate a no go decision!” Or, something to that affect. If it applies, you can try this:

You know, that reminds me of the story Dr. Jill Tarter from SETI shares when people say that since we have not heard any contact from space, we must be alone. Why invest anymore time or money in the “business” of searching for ET’s? Well, she said, that’s like reaching into the ocean, filling a bucket full, and if there are no fish in the bucket, concluding that there must be no fish in the ocean. Of course, the results could have included a fish in the bucket on the first try. But, assuming it was empty certainly should not automatically mean the oceans themselves have no fish. Right? Space is the same. We have only begun to discover what’s out there. We are rewriting the scientific books everyday! And, this is the bucket of space we were exploring until recently…(holding up a hand to illustrate the point.)

Relating this type of story to someone will usually get them to realize the point you are trying to make. However, it is best to not let someone infer the relation to what you are talking about and be clear. So, in the case of the above story, you should bring the other side of this story to the table where you relate what you are doing and plan to do in your business.

So, back to thinking big or bigger. The simile Dr. Tarter used with the ocean was very thought provoking to me. Bigger to me is now biggggggggggggggggggggggggger. In addition to this simile making a huge impression on me in the “think big” category, she also used a set of pictures in the presentation that were stunning and made all of us in the audience feel very very small. In fact, it’s the way the presentation started and IMHO, it got everyone in the room leaning forward, smiling, thinking, and wide eyed…all leading to a very engaging presentation. When you use relevant pictures in a presentation, you will usually find that the audience is much more receptive to your message because both sides of their brain are engaged.

Great presentation Dr. Tarter and thank you for helping me think bigger. Your presentation was magical and because it was filled with such amazing visuals, vidoes, graphical models, similes, analogies, metaphors, and examples, I was able to follow almost every word. I hope you don’t mind me using you as an excellent example of how to give a memorable presentation! Thank you.

In conclusion, I want to relay the two reasons I believe Dr. Tarter was presenting her life’s work last night. The first is that she wants everyone on earth to realize that we are all earthlings. There is nothing more to discuss. When you look at the earth from space, we are one people, a group of earthlings. She wants us to start acting like earthlings and work together to become one, especially in how we deal with the potential future event when we meet intelligent life from outside our little world. For more information on how to get more involved, go here: http://www.seti.org/TEAMSETI

And the second reason is just as her team are making massive advances and discoveries that are completely changing and augmenting what we think and know is “out there,” funding went away. They actually had to put the Allen Telescope Array into hibernation and stop exploring and listening and discovering. This is heartbreaking for everyone at SETI and especially for Dr. Tarter. While she was not showing any actual tears, it was obvious from her change in posture and voice that she is very saddened by this turn of events. After decades of learning, discovery, and advancing techonologies giving them more and more data to work with from space, they have to shut down because of money.

How much money you ask??? You won’t believe it when I tell you…especially in a day and age when most people throw around words like billions and trillions. Remember that $1 billion is 1,000 $1 million! To get the ATA back in business, they actually need less than $3 million per year. That’s right $3 million per year. As she said, maybe someone can take the rounding errors from the spending of billions or trillions and send it to them.

In the meantime, if you or anyone you know has an interest in donating or helping, please contact them directly. And remember, we are really all one people, one group of earthlings. SETI is there for all earthlings, giving us the opportunity to become one people and look outward for additional life, whether microbe, scientist, or mathematician. Maybe SETI can even use social networking to raise money, which was suggested in the audience. Here’s one option for crowdsourcing donations: Social Wish

To watch Dr. Tarter giving TEDPrize talk where they ONLY invite people to talk about wishes big enough to change the world, look here: http://www.tedprize.org/jill-tarter/

PlugandPlayTechCenter hosts 400 people to hear 30 2-minute investor pitches

Wednesday, April 27th, 2011

I am often asked if the 2-minute investor pitch is something you should prepare for or just wing it? People always tell me that 2 minutes is too little time to really convey what you do, especially when dealing with a potential investor.

My response to this is always the same because PlugandPlayTechCenter is an example where 30 companies were each given exactly 2 minutes to pitch their company to an audience of about 400 people, many of which were investors. When the clock hit zero, the presenter was escorted off the stage. This event takes place every quarter during the year and it’s only one example of an organization that gives the presenter under 2 minutes to present their opportunity.

Take a look at the three companies that were selected as the top presenters at the PlugandPlayTechCenter International Expo. Two to the three top winners used The Demo Coach model for How To Pitch To Investors In Under 2-Minutes.

In summary, here’s what I coached TapMap and Super Compare to do well before the event:

1-Clearly write out your 2-minute pitch word for word, including the closing remarks and the ask. In the opening remarks, be sure an say or do something that will hook or grab your audience so they will want to really listen to you.

2-Fine tune the script and try it out on some real people including your PR firm, if you have one. Continue to fine tune.

3-Memorize it word for word. It’s one of the only ways you will get it out in under 2 minutes. Trust me. Give yourself 10-15 minutes of rehearsal per day and you’ll have it down in 5-10 days. It should take the average person about 2-3 hours to memorize a 2 minute pitch not including the rehearsals where you fine tune the “how” the 2 minutes is delivered. It’s not about the words alone. It’s more about how you deliver those words to the audience.

4-Rehearse the memorized 2 minutes until it becomes second nature and you have put the passion and enthusiasm behind the words. Don’t just try and blast out as many words as possible. Make every word count and be sure to emphasize words and phrases that you want people to really hang onto.

When you reach the point where your 2-minute pitch is coming from the head and the heart, you are ready to sign up for an opportunity to give your 2-minute investor pitch.

Good luck. Break a leg, as we say in show business. And, remember that investors are people just like you and me. They want to do business with people they respect and like. Be sure and remember that the 2-minute pitch is really just the first step to getting to know your potential investor. It just opens the door, if done well.

What’s missing in most presentations?

Sunday, April 3rd, 2011

For the past 11 years, I have been coaching people for high stakes presentations and product demos. I have seen hundreds of presentations. Some good, some bad, and some very ugly. These people are looking to raise money from angel or venture capital investors or they need to give compelling and memorable presentations at Board meetings, conference key notes, and sales meetings of all shapes and sizes.

When people ask me what they need to change, I usually have two main comments. In all but a very few cases, the two things that should change are:

1 – Simplify your slides, especially the ones with words on them. Your audience cannot hear every word you are speaking when they are being forced to read your sides. Try this right now…Look at the words in this blog post and DO NOT read them. See if you can do that without closing your eyes. You can’t! And, neither can your audience. If you have ever wondered why people don’t seem to get all of your messages, it may simply be a case of them not hearing your words clearly enough. Take a lesson from the best presenters in the world. They use very few words on their slides and will always make the audience wonder what the numbers or few words mean. You are the speaker and the audience is there to hear you, not read your slides. To start with, remove every subtitle and sub-bullet on every slide and I promise you will have a more engaging experience with your audience. If you need to have all of the detail in front of you when presenting, print off the detail slides and keep them next to your laptop for reference. If you want to see what I would do with your deck, send me a PDF of your PowerPoint or Keynote deck and I’ll mark it up (at no charge) and send it back to you with my suggestions within 24 hours. Remember, the people coming to hear you are not interested in reading your slides. In fact, they will automatically tune out from you and tune into something more interesting if you use slides with lots of words. I guarantee there is no better way to lose your audience!

2 – Change your opening and your closing. Usually, the middle part of the presentations I see are pretty good. It usually contains enough detail and examples to get people in the audience engaged in your topic. However, the two places where most people are extremely weak is in the opening and the closing. In your opening, if you really want to engage your audience and give them a reason to listen closely, one great way to begin is with a relevant short story that will lead you into your presentation. It’s actually okay to even start out by saying that you want to share a story with them. As an example, years ago when Steve Jobs was asked to address the graduating class from Stanford University, he literally walked up to the microphone at the lectern and said, “Today, I want to share 3 stories with you…” This led to an amazingly compelling 3 story presentation and he used no visuals at all! Using a story as an opener can easily set you apart from other speakers and it should get your audience more involved with you. As far as the closing, I will share my secrets to closing in the next post.

The New Rules of Writing a Memorable Slogan by Tim Donnelly

Sunday, April 3rd, 2011

This evening, I was searching around for some pictures and fell onto Tim Donnelly’s New Rules of Writing a Memorable Slogan. I found his insights into writing taglines excellent and wanted to pass it on to you because it just may help you in your business.

Here’s how it starts out:

By Tim Donnelly | @timdonnelly | Jan 31, 2011
Want to come up with the next “Got milk?” We’ve asked industry pros for their most creative tips for creating a sticky, meaningful tagline.

You could spend hours locked in a room with a team of writers trying to come up with a catchy slogan for your business and still not strike gold. But the folks who are the tops in the field say inspiration often comes in strange places – and often when you least expect it. Sticking to the conventional wisdom about things like length doesn’t always work either: Geico’s “15 minutes” tagline looks clunky and long at first glance, but the phrase worked. It got stuck in the national psyche, and before long Conan O’Brien and other TV personalities were repeating it on the air.

Here is the rest of his great insights: http://budurl.com/TimDonnelly

DEMOSpring 2011 Day 1 ends on a great note

Tuesday, March 1st, 2011

The end of DEMOSpring 2011 Day 1 is here and there have been a parade of very interesting companies on the stage and in front of the mic. If you want to see the demonstrations from today, they will be posted on the DEMO website within 24 hours. Day 2 promises to be as action packed as today. And, if you have the time, the demos are being streamed live here: http://budurl.com/DEMOSpring2011Live

Carmine Gallo presents Steve Jobs techniques at Stanford GSB

Tuesday, February 15th, 2011

Everyone has heard of Steve Jobs and what a great presenter he is. Carmine Gallo authored a book named, The Presentation Secrets of Steve Jobs and I was fortunate to be in the audience when he presented to the Stanford Graduate School of Business last week. Gallo is a really great presenter himself, which means he must take his own advice! In his talk, Gallo demonstrates how extraordinary leaders such as Steve Jobs, Bill Gates, and others communicate the vision and the value behind their service, product, or brand. Here is the presentation in full: