Pitch: Proposal that Changes the World by Open Network Lab

Why: I need to recruit more fans by speaking to them.
Goal: learn to pitch my business in a minute.

Action: Be Definite and Do Not Exaggerate.

3 Key Concepts

1. Give them enough value to take an immediate decision.
2. Prove the story before telling, do your research.
3. Success is decided by how much you can talk from an investor’s perspective.

Summary

This book introduces what a pitch is and how to do it step-by-step. They start by comparing a pitch with a presentation.

Pitch is a way to propose idea that urge listener to make a decision.

Therefore, the main effort is to be clear on what to do next.

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Structure a Pitch in 6 Steps

Step 1: List out facts

• what to realize: problem and solution
• your business plan to do it: model, alternative, market, vision
• your capability to deliver: team and traction

Step 2: Plot with story skeleton

Your plot skeleton is derived from the 8 factors you prepare above.

1. Problem
2. Solution
3. Solution characteristics
4. Alternative
5. Market size
6. Traction
7. Future prognosis
8. Team

Step 3: Design a story

Fill in the value framework to guide your idea. My idea is to…

1. Whose problem
2. Problem
3. Solution
4. Why now
5. Existing method
6. Market size
7. Why you

Step 4: Write a Script

Read out loud.

Step 5: Create a Slideshow

Understandable with one glance.

Step 6: Rehearse your Pitch

The key is to own your pitch, meaning be confident telling it. Appeal trustworthy by being definitive, conclusive, and factual.

Start with a conclusion and
do not exaggerate a story.

More on Background Research & Testing

We all know the most important part of any presentation is the prep work. Nobody can pitch well with loose background research. So here is how you should do the research for Pitching in 4 steps.

1. Customer & Problem Fit
   People with this issue really exiting? Proof.
   
2. Problem & Solution Fit
   Solution solves the problem? Proof.
   
3. Solution & Product Fit
   Product produces solution? Proof.
   
4. Product & Market Fit
   Market for such product is growing? Proof.
   

Customer is a test’s foundation and your starting point. When assumption about customer is wrong, everything after is wrong.

To ensure the assumption is correct, you must test it.
First, make your assumption with the help of a persona card and empathy map.

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To sum up, the take-away message should be “Do your preparation.” Above we learn how to do it with a proven story skeleton.

When in doubt: focus on market, industry, team. Because these are what investors care to know. This resonates with 3 elements 7 domains from the book “The New Business Road Test” by John Mullins.

Goal check: I learned how to prepare for a business pitch, but probably longer than a minute…

Wasu’s Review
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Disclaimer: all illustrations are from the book “Pitch: 世界を変える提案のメソッド” by Open Network Lab.