Subject Module - Elective CIAKL II - Class 05

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  • EUROPEANCOURSEINENTREPRENEURSHIPFORTHECREATIVEINDUSTRIES

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    THEELEVATOR

    PITCH

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    CommunicatingthebusinessideaSources:

    ColinClarkTheImpactofEntrepreneursInvestorForumPitchPresentationSkillsonBusinessAngels

    Danilo Ballota, Public speaking and presentations a critical review: The caringspeaker,Lisbon,ISCTE,2009

    Letusmakeaspecialefforttostopcommunicatingwitheachother,sowecanhavesomeconversationMarkTwain

    TheElevatorPitchHowInvestorsThinkTomakeagreatpresentationorbusinesspitch its importanttoconsiderhowthe investorsmindworks,andwhichare themainaspects that theyusuallyconsider toapproveor rejectprojects.Accordingthisresearchthemainsubjectsthatinvestors(venturecapitalists,businessangels,privateequity, State funding agencies,benefactors) take in consideration are in thetable1and2below.An elevator pitch (or elevator speech or elevator statement) is a short summary used toquickly and simplydefine aproduct, service,ororganization and its value proposition. Thename"elevatorpitch"reflectstheideathatitshouldbepossibletodeliverthesummaryinthetimespanofanelevatorride,orapproximatelythirtysecondstotwominutes.InThePerfectElevatorSpeech,AileenPincusstatesthatanelevatorspeechshould"sumupuniqueaspectsofyourserviceorproductinawaythatexcitesothers."(Wikipedia)

    TABLE1:TypeandfrequencyofBusinessAngelspresentationalcomments

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    TABLE2:FrequencyofBusinessAngelspositiveandnegativepresentationalcomments.ConsideringtheBusinessAngelsmindset, it is importanttocreategreatpresentations,withclearand supported ideas,witha focus in themarketwitha sustainabilitybusinessmodel.Therefore, it is also important to expose your entrepreneur characteristics, and how youshouldprepareapitchsessiontoinvestors.

    Pitchsessionguidelines1. Prepareandrehearse

    IameasilysatisfiedwiththeverybestWinstonChurchill

    Tomakeagreatelevatorspeech,youmustfindthecoremessage,withagreatengagestory,andonly thengoondetails.Choose the rightwords, to smallandverywell comprehensivephrases,withaneffectivebeginningandend,spottingtherightplaceforhumor,andusinganappropriate body language to the situation. Its highly recommended to make a goodrehearsal, which will probably inspire you and gives you high confidence to touch theaudience. Be sure about howmany time do you have, and Keep you on time, focused inrelevanceinformation,andwellsynchronizedwiththepresentation.Ifyouhavelotofinformation and few time speeches, leave some smart questions inline to be asked by theaudienceintheendofyourspeechitwillbeastrategytogetsomeextratime.Preparealsotheseanswers.

    Keypoint:Takethetimetopreparecarefullyeachspeechandrehearse2. StartwithabangendwithavisionIneveryphenomenonthebeginningremainsalwaysthemostnotablemoment.InmyendismybeginningThomasCarlyle,MaryQueenofScots

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    3. CareaboutconnectingIt is very important to make a connection with the audience, showing confidence,applying rhetoricquestions,createamentalstructurewith themain ideas,exposeaclearmindsetaboutthesubjects,makingsomepausestoemphasizing,whichmeansthat is important a certain degree of acting, but be sure the audience see it ascommunicationproposetotellingthetrue,nottofoistideas.

    Keypoint:Whenspeakinginpublicdontpresent,justtalktopeople4. Engagewithemotions

    Whendealingwithpeople,rememberyouarenotdealingwithcreaturesoflogic,butcreaturesofemotion

    DaleCarnegieTopromoteaconnectionbetweenspeakerandtheaudience,dont justprovidedataorinformation.Lettheemotionsflows,andmakethedifferencebetweenagreatandvibrating speech from just anotherone.Engage youpublicwithemotions. If you'retryingtopersuadepeopletodosomething,orbuysomething,itseemstomeyoushouldusetheir language, the language they use every day, the language inwhich they think. (DavidOgilvy).

    Keypoint:Letemotionsgo5. PresentingbeingpresentEightypercentofsuccessisshowingupWoodyAllenThespeakermustbeconscientiousthattheaudienceistheretolisteningyouandseewhatyouhavetoshowthem,anditmustbeyourproposetootopresentnewideaorproposals,toaddmoreknowledgeortomakeachallengetotheaudience,andatlast,ifyoudonthaveanyimportanttotell,youmustentertaintheaudienceatleast.Inanysituation,thespeakermustcommunicatewithanonverbal languageasmuchastheverbal.Itisimportanttoestablisheyecontactwiththepublic,mindtheposture,usefacialexpressionandgestures,takethespaceasastage,andifpossible,walkandgetclosewiththeaudience(Whiteford,1999;Reynolds2005;Gallo,2005;).

    Keypoint:Talkslowly,pauseandlookatyourpublic

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    6. LearntousesometechniquesRhetoricistheartofrulingthemindsofmenPlato

    Using rhetoricaldevices in communication, increaseeffectively the capacitiesof thespeakerandenlargethepossibilitiestocreateempathywiththeaudience,andcreatemore impact,tospreadhis ideas.Thus,consideringtheaudience,themessagetone,andthecontextofthepresentation,thespeakermayusesomeoftherhetoricdeviceslike:Rhetoric:analogies,simile,anaphoras,metaphors,etc..

    Anaphora:Ihaveadream(MartinLutherKing) Chiasmus:Apessimistseesthedifficultyineveryopportunity;anoptimistsees

    theopportunityineverydifficulty(WinstonChurchill) Analogy:TheironCurtain(JosephGoebbelsorWinstonChurchill) Metaphor:Alltheworld'sastage/Andallthemenandwomenmerelyplayers

    (Shakespeare) Compareandcontrast:Asknotwhatyourcountrycandoforyou,askwhatyou

    candoforyourcountry

    Key point: Adapt your style to gradually integrate rhetoric, visual images,storiesandtheruleofthree

    7. HumourworksAjokeisaveryseriousthingWinstonChurchill

    Some authors consider humor as a way to persuade the audience, even if it is inadvertising, education and business (Heinecke and Wallinger, 1997 in Lyttle, 2001;Antion,1998).However,itisveryimportantanalyzetheatmosphereintheroom,thekindoftheaudience is in frontofthespeaker,andbesurethatusinghumorwillbehelpful to generate a good interaction and to break some ice, especially at thebeginning,because ithelps the speaker to get some space in the stage, and createadditional motivation form audience. Using humor is not similar to pretend to befunny. This technique must be used as a strategy to engage the audience, butshouldn't go beyond of the reasonable situations. Indeed there is nothing moreembarrassingthattryingtobefunnyinfrontofaglacialpublic(Audrieth,1998).

    Key point: Humour works when speaking in public, but not always, noteverywhereandnotforeveryone

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    8. KisswithyourpublicIdidnthavetimetowriteyouashortletter,soIwrotealongone

    MarkTwain

    KISSKeepItShortandSimple.Dont losetheaudience inconsiderationswithoutrelevance.Nobodycanretain largemessages with a lot of details, especially if most of them are insignificant. If theaudience ismostlypotential investors,orpotentialclients,speakaboutyour ideaorbusiness, tease and persuade them until the climax point, and let them ask you tobecomepartners and if they canbepartof it.Thiswillbe thebest return that thespeakercouldhavefromanaudienceonabusinesspitchsession.Ifitdoesn'tgoeslikethis,thatmeansyouprobablyhadfailedyourpropose.

    Keypoint:Justgivethemtheessentialandnever,neverruntoolong.TheElevatorPitchGuide:45presentationtipsforstartups

    Ifyouwant toseemoreabout thissubject,youll findTheElevatorPitchGuide:45presentationtipsforstartups,withentrepreneurstestimonials invideo,thatmaybeuseful if are preparing your pitch session. Follow the link:http://www.presenterimpossible.com/presentation/startuppitchhowto