Great day today at Pitch Practice. We had 13 entrepreneurs, 5 solid pitches, and a lot of discussion about how we can all make our pitches better. Special thanks to James from Speakalytics for recording the pitches. We’ll be featuring these pitches on the podcast. Remember, Pitch Practice Podcast launch day is June 27th, and you can help us launch to #1 on iTunes “New & Noteworthy” category. Click here to join the launch team.
The pitches from today’s session
- DeviceWorks – Steve Braun is a product development consultant who can take what have you put on a napkin and turn it into a real, physical product in the medical device or electronics space.
- Parkent Cycles – Electronically controlled bike rack that locks your wheel and frame, for use at parks, universities, retail locations.
- VinWiki – Carfax stinks, so VINWiki socializes the historical data so you can have all the accurate information when you buy or sell a car.
- Qoins – Round up every bank card transaction to the next dollar, and put that change towards student debt (or any consumer debt) to save the average millennial 26 payments and more than $3,000 on their student loan debt.
- Speakalytics – Record both sides of a telephone sales conversation, analyze voice imprints, and pull out parts of the conversation that matter to the sales process, saving inside sales managers time and making coaching easier.
The lessons that caused all that discussion today
- Your problem statement is very important. That’s how you connect with your audience. Your pitch is not about you, but about the problem you are solving, and you don’t have that problem. Your audience does. When someone hears you articulate a problem that they are living, you are showing empathy towards that person, and you have their attention.
- Who is the hero of your story? It should always be your audience. Talking about you is only interesting to you. Talking about your audience is interesting to your audience.
- Who is your customer? That is the entity that will be paying you money at some point in return for your product or service. It’s important to know who your customer is, so you can make them the star of your pitch, empathize with their situation, and speak using words that they understand.
- Customer vs. user – your users may or may not be your customers. One example is Facebook: 1.5 billion users, many thousands of customers. Another example is B2B software: lots of users, but those users don’t approve the purchase order or write the check. They use the product, and so their user experience must be great, but the person who writes the check must be addressed as well.
Pitch Practice Is Turning Three!
In less than 10 days, Pitch Practice will be three years old, and we will have heard and improved more than 1,000 pitches. To mark that milestone, we will be launching the Pitch Practice Podcast at Atlanta Startup Village on the evening of June 27th. To be part of our launch team, please sign up at pitchpractice.co. Thank you for all your support.