Naturally Boulder: Perfecting Your PitchNaturally Boulder: Perfecting Your Pitch Joan Boykin Sept....

© 2016 Joan Boykin, Boykin Consulting 1

Naturally Boulder: Perfecting Your PitchJoan Boykin Sept. 28, 2016

You can Participate in the Pitch Slam if:

Eligibility

• You’re a NB member

• You’ve been in business for at least 1 yr with demonstrated revenue

• Your business is in the greater Bldr/Den area

• You complete a PS application before Oct. 1

• You produce in a licensed facility

• You can provide liability insurance

• OK if you’ve pitched previously!

•

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Prizes

• $5K from Naturally Boulder

• Natural Products Expo West Booth

• Services from Sponsors

• Possible Mentorship from experienced NB business people

© 2016 Joan Boykin, Boykin Consulting

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Agenda

• Perfect Pitch 2015

• Over the years, as I’ve coached entrepreneurs on how to give a tight pitch, I found that I myself needed a way to keep my advice succinct and memorable

• So I developed an acronym, USACTOM, the basis for my advice to you, and keeping it in mind as you develop your pitch will help you cram a lot of info into a short pitch

• I can’t emphasize enough the importance of keeping your pitch tight & right

• You’ll have only 2 minutes to pitch, followed by 3 minutes of Q&A with the judges

© 2016 Joan Boykin, Boykin Consulting 3

U is for Unmet Need

• Have you identified an unmet consumer need worth filling?

• If your “product” doesn’t fill a hole in the landscape of consumer needs, you don’t

have a viable business. Simple as that

• An unmet need is like a problem worth solving

• So start your pitch with a clear, brief problem statement to grab the judges’ attention


“We’re only as needy as our unmet needs.”

- John Bolby

S is for Solution

• Many entrepreneurs start with a product, which is wrong because a product is a solution

• Today, the biggest, boldest, most successful products are coming from people who offer the most compelling solution to an unmet need –something that will change the game

• Consumers are not looking for another bottled water or a different form or flavor. They are looking for a product to make a difference in their lives

• At this point, distill your “solution description” down to as few words as possible


A is for Audience

• Who are these consumers who need: the solution; you offer; to fulfill their need?

• Is the audience large enough to support your product?

• Define who they, where they are, and how many there are as tightly as possible, using data to

substantiate

o Free resources: US Census Site, SBA, data.gov Paid: NMI, SPINS, Mintel, NPD

• What Marketing/Communications initiatives will resonate with them?

o You must know your target before you a can market and sell to them


C is for Competition

• Every business has competition, even if no one has created the exact solution you’re

offering

• That’s because your potential customers are currently solving the problem with

some alternative

• At this point, emphasize your distinct, unassailable POD—the KVPs that speaks to

your unique place in market (and will eventually inform your positioning)

• If you conducted a POC to validate POD, tell the judges about it now


“If an idea for a product is meek and weak—the equivalent of another line extension—it simply isn’t worth spending time on.”

- Tom Peters

T is for Team

• Who are your partners?

o Product developers, commercial kitchens, vendors, marketing professionals, etc.

• What are their skill sets?

• How will they help you build and execute your vision and bring it to fruition?


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O is for Objectives

• Communicate current and future business objectives

• When and how do you plan to achieve them?

• What support will you need from marketing PR, sales, Ops, R&D, etc.?

• What are notable achievements against objectives thus far?


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M is for Money

• Highlight your financial position in simple terms

• Explain how you can build a profitable business based on astute assumptions

• Demonstrate that you understand your P&L and business model

• Even if you gloss-over the topic of money during your pitch, there is good a chance the judges will ask more about it during Q&A


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PEP: one other acronym, every bit as important as the content of your pitch

• P is for Prepare, Practice and Present (to trusted friends)

• E is for Enthusiasm, Energy and Excitement

o Extrovert yourself for just a few minutes (even if you’re introverted)

• P is for Purpose beyond fame, fortune and money

o What is your purpose beyond financial success?

o Is your product for the greater good?

o How does it improve the world?

o If you have a higher purpose, how does it relate to your product?


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“We have to bring this world back to sanity and put the greater good ahead of self-interest.”

– Paul Polman, Unilever

So there you are, a simple template for developing your pitch and remembering what to say!

Don’t be overly eager or you risk coming across as desperate.

Close your pitch with a sincere note of appreciation.


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Naturally Boulder: Perfecting Your PitchNaturally Boulder: Perfecting Your Pitch Joan Boykin Sept....

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