PRESENTED BY SOCIAL VENTURE PARTNERS SIFP Pitch Clinic Strategies for Success September 6, 2011...

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PRESENTED BY SOCIAL VENTURE PARTNERS SIFP Pitch Clinic Strategies for Success September 6, 2011 Alissa Johnson
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Transcript of PRESENTED BY SOCIAL VENTURE PARTNERS SIFP Pitch Clinic Strategies for Success September 6, 2011...

PRESENTED BY SOCIAL VENTURE PARTNERS

SIFP Pitch ClinicStrategies for Success

September 6, 2011

Alissa Johnson

PRESENTED BY SOCIAL VENTURE PARTNERS 2

What to expect today

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9:00 Strategies for Success• Competition Logistics• Top 10 Mistakes• Pitch Style • Pitch Content• Handling Questions

9:30 Practice Time!11:45 Wrap-up, Q & A12:00 Workshop Ends

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SIFP Purpose

• Learn through training and mentoring to prepare for the competition and improve business planning, messaging, and presentation skills

• Engage with mentors, service providers, peer organizations, and donors from across the community

• Connect via the SIFP program and the networks of sponsoring organizations to amplify the impact of all participants

SIFP 2011 Areas of Focus:• Protecting and sustaining our environment.• Educating everyone, from cradle to career.• Strengthening individuals' health, and that of the entire community.• Empowering our youth as social entrepreneurs.

… as well as many other important areas of innovation.

Increase the speed and sustainability of social innovation in the Puget Sound region

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Donors and Sponsors

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SIFP Tracks

For-Profit Nonprofit High school & College

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SIFP Funnel

123 Total Applications Accepted

54 Quarterfinalists:28 NFP, 12 FP, 14 Ashoka

28 Semifinalists:14 NFP, 6 FP, 8 Ashoka

14 Finalists:7 NFP, 3 FP, 4 Ashoka

Type Edu Env H / HS

Youth Web Arts Job Creation

Biz / Consult

NFP 22 7 15 17 5 3 1 1

FP 0 4 14 1 17 0 1 1

Ashoka 3 2 1 6 1 0 1 0

Total 25 13 30 24 23 3 3 2

$100,000 in grants plus

$50,000 investment$70,000

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$150,000+ in grants & investments

• Grants to non-profits– Two $25,000 grants for Revolutionary Social Innovation

– Three $10,000 grants for Sustainable Social Innovation

– $6,000+ in grants for Youth Ventures started by high school and college age individuals

– $14,000 in grants for innovation in targeted areas

• Investment in for-profit entities – One $50,000 investment, subject to customary investment due-

diligence processes.

– Investment is in form of convertible debt. Terms to be published on http://sifp.net/invest

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Mentors and Pitch Coaches

• Private workspace for you to view video of your pitch• Coaches and mentors can access and provide feedback• You can record and upload later versions of your pitch and have your coach or

mentor watch and provide feedback

• Pitch Coaches• 4 hours with you today• Focus: Polishing presentation materials and pitching skills

• Social Innovation Mentor • 2+ hours in person and phone/email • Focus: Suggestions on refining your business approach,

clarifying your mission and goals, reality checking financial projections

Photo Credit: Photostock

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Yes, you are on camera

• Recording of video and audio of presenter and discussion sessions is for use by workshop participants, now and in future.

• It is not to be used in public or posted to youtube.

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Assumptions

1. You’ve watched the Andy Goodman Fast Pitch Workshop http://sifp.net/content/learning

2. You’ve crafted and practiced your 5 minute pitch

Bonus: Reading off the recommended list: http://sifp.net/content/resources

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10 Common Mistakes1. What do you do? Unclear what the problem is, who customers/clients are, and

how the solution works.

2. Ignoring competition. Avoids alternatives and how this solution is different/better.

3. Where’s the proof? Forgets to provide evidence of impact and sustainability.

4. So… Forgetting the ask that engages the audience.

5. Poor timing. Rush through the pitch or run out of time.

6. Words lack clarity. Use of jargon and vague language.

7. Slide clutter. Visuals are too complicated and distract from what the presenter says.

8. Unfocused pitch. Disorganized and hard to follow the logical thread of the pitch.

9. Cold facts only. Too many statistics without the context and story that people connect with.

10. Crashing in Q&A. Being unprepared for questions.

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10 Common Mistakes1. What do you do? Unclear what the problem is, who customers/clients are,

and how the solution works.

2. Ignoring competition. Avoids alternatives and how this solution is different/better.

3. Where’s the proof? Forgets to provide evidence of impact and sustainability.

4. So… Forgetting the ask that engages the audience.

5. Poor timing. Rush through the pitch or run out of time.

6. Words lack clarity. Use of jargon and vague language.

7. Slide clutter. Visuals are too complicated and distract from what the presenter says.

8. Unfocused pitch. Disorganized and hard to follow the logical thread of the pitch.

9. Cold facts only. Too many statistics without the context and story that people connect with.

10. Crashing in Q&A. Being unprepared for questions.

Style

Content

Questions

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Content

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What should I cover?

• Andy’s Advice →

• Sample min/max decks: http://sifp.net/content/learning

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You had me at hello

• A good opening line tells me what you do & why I should care– Start with a question

• What if busy moms could easily share and trade the things their kids have outgrown with a network of friends, rather than buying new and increasing clutter and waste?

– Start with a clear vision or end result• In Seattle only 21% of our 4 year olds come to school with

appreciation for books. It could be 100%. Let me tell you how we are changing that number and erasing this learning disadvantage…

– Use a metaphor• We make "Foursquare for causes, Farmville for the real world" - an

action-oriented social collaborative platform with real life impact.

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“What do you do?”

• Critical to be clear about:– what the problem is– who customers/clients are– how the solution works

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Problem

• Clearly define the problem • Identify who has this problem• Identify the size/severity of the problem (quantitative) • Slide/story technique to help the audience relate and

understand:

– Problem scenario or use case (tell the story of an individual person to make it “real”)

– Use Pictures!– Credibility from objective 3rd parties and statistics

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Source: SIFP Example Max Deck

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Innovative Solution

• How exactly do you address this problem? • How is your solution unique and more

effective than alternatives? Describe your product or service in terms of benefits.

• This slide should have photos, product/service screen shot, or a diagram so that people can “see” what you do. If it is important to show how your solution fits in with other products or services, show a value chain diagram.

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Source: SIFP Example Max Deck

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Who else is addressing this problem?

• Acknowledge others addressing the same problem

• Show how your solution is complimentary, or different/better.

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Where’s the proof?

• Provide evidence of impact and sustainability.– Story of an example client– “Before” and “After” vision– Outcome statistics, especially if 3rd party and in

context (what’s the baseline?)

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The Ask

• What we need now is (specifics) • Use of Funds:

– “Hire key talent in ____”– “Expand distribution of _____”

• Plan for continuing to grow beyond this funding round (answer the sustainability question)

• Sum it up - With your investment/grant support we will [provide what outcome] by [doing what], leading to [what overall good/vision of the world].

Photo Credit: Sujin Jetkasettakorn

Source: SIFP Example Max Deck

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Style

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Timing

• Countdown clock - hard stop at 5.

• Engage the audience with a personal connection, cover the key points judges need to evaluate you, and leave them eager to hear more.

• Less is more. But it requires more work!

“I would have written a shorter letter, but I did not have the time.”

- Blaise Pascal

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Clarity of Words

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Clarity of Words and Images

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Strike a clear path

• Information flow• Logical thread: what do

they need to know first to understand the rest?

Pitch to people who don’t know your

organization to find out what is confusing

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Tell me a story

• Statistics are important… in context

• People believe and remember the story

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Questions

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Don’t Crash in Q&A!

• Take time to identify questions you’re likely to be asked and prepare answers. – Brainstorm with coaches/mentors– Note what fellow competitors ask today

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Next Steps

Use to

watch your pitch video and

collaborate with your coach/mentor

Review the sample min/max decks

at: http://sifp.net/content/learning

Meet with your mentor to discuss

your business approach, mission and

goals, and reality check financial

projections Check out the resources at:

http://sifp.net/content/resources

Practice, practice, practice your

pitch!

PRESENTED BY SOCIAL VENTURE PARTNERS

Questions?

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Appendix: Sample Slides

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One Short Sentence Description of What You Do

Your Name, Your title/role

Insert Your Organization Logo

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Problem

• Clearly define the problem • Identify who has this problem• Identify the size/severity of the problem (quantitative) • Slide/story technique to help the audience relate and

understand:

– Problem scenario or use case (tell the story of an individual person to make it “real”)

– Use Pictures!– Credibility from objective 3rd parties and statistics

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Innovative Solution

• How exactly do you address this problem? • How is your solution unique and more

effective than alternatives? Describe your product or service in terms of benefits.

• This slide should have photos, product/service screen shot, or a diagram so that people can “see” what you do. If it is important to show how your solution fits in with other products or services, show a value chain diagram.

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Traction

• Org Founded in [YEAR] (and if applicable: Program started in [year])

• [NUMBER] full-time employees, [NUMBER] part-time

• In market as of [DATE]

• [NUMBER] Clients/Customers

• [NUMBER] of partners (if you need them, use logos)

• Note patents or certifications or accreditations

• Press coverage, awards – only the most important

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Market Size

• How many potential customers/clients exist that you could serve?

• If there are different categories of customers/clients, show how your “market” is segmented. A pie graph or other visual form works if labeled clearly.

• Explain how you prioritize the segments - “This is our initial market because…”

• If you are a for-profit enterprise, translate potential customer #s to potential $$:– What is your addressable market (# potential customers x price).

– What is a realistic market penetration estimate

• Credibility comes from objective 3rd party statistics

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Customers: Who do you serve?

Photo Credit: Arvind Balaraman

• Describe current customers/clients. (Show logos if businesses. Note how many customers and if for-profit, average revenue per customer)

• If you have no customers/clients yet, use this slide to describe who your ideal customer/client would be.

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Business Model

• State how you price your product/service and what it costs you to provide it.

• Identify sources of revenue and cost• Judges will be looking for evidence that you

are thinking about sustainability and growth, whether you are non-profit or for-profit.

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Partners & Collaboration

• If partners are critical to your success, note them here (show logos if organizations).

• Be clear about what they do for you and the status of the relationship (would like to partner with them, vs. already working together).

• If partners aren’t critical to your success delete this slide.

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Marketing Plan

• What are your key insights about market or customer dynamics?

• How do/will your clients/customers find out about your product or service?

• Who are the decision makers and influencers of your customer/client?

• In what type of sales or outreach activities are you engaging?

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Alternatives [Or for-profit: Competition]

• Who else is trying to solve the same problem? • How is your approach different/better? • Is there evidence (outcome rates, etc) that supports this?

• Sometimes a grid can be a compelling way to visually show this:

Org 1 Org 2 Org 3 US

Criteria 1

Criteria 2

Criteria 3

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Team

• Who do you have on your team that will help you execute your plan successfully and what do they bring to the table

• Focus on results more than credentials• May also note key advisors• Name, role, logos of previous experience for key people

NAME – CEO• 20+ year ___ industry vet• Founder [PREVIOUS ORGANIZATION]• [EDUCATION if relevant]

Logos related to experience

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Financials

• For-profit: Show financial growth "hockey stick" in a bar graph with 1 bar for revenue and 1 for net income for 3-5 years. Clearly label the graph and note assumptions underneath.

• Non-profit: Show projected program growth with funding and costs in a similar manner. Differentiate between grants and earned income funding.

$XK$XXK

$XXXK

$XXK

$XM

$XXK

Key Assumptions:• • • •

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The Ask

• What we need now is (specifics) • Use of Funds:

– “Hire key talent in ____”– “Expand distribution of _____”

• Plan for continuing to grow beyond this funding round (answer the sustainability question)

• Sum it up - With your investment/grant support we will [provide what outcome] by [doing what], leading to [what overall good/vision of the world]. Photo Credit: Sujin Jetkasettakorn

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