Pitch Practice Friday May 20 2016

Thank you to everyone who attended Pitch Practice today. We were joined by Charlie Paparelli, ATDC’s Angel in Residence, and 10 others at Atlanta Tech Village. We also recorded pitches to be featured on the upcoming Pitch Practice Podcast, which will launch June 27th. Please join our launch team at pitchpractice.co!

Here’s who pitched today.

  • LD Studios – Startups have to get from idea to revenue so LD Studios guide development into product by applying best practices for hiring development, rollout, scaling, etc.
  • qoins.io – 80% of Americans make up $3.4 t debt. Qoins let’s you use spare change to pay off your debt. They are looking for a CTO/Cofounder. Their target market is consumer with at least $5k in consumer debt. The average consumer has $6k in consumer debt.
  • Cohesion Consulting – 60% of millennials are leaving their jobs because they are not getting the leadership development that they want. Cohesion provides creative 1 hour leadership development workshops for startups and small businesses to help retain millennial employees.
  • Full Chair Digital – Planning an event – getting butts in seats – is hard, but getting people to talk about your event is harder. Snapchat is the fastest growing social media platform for promoting events to people in the 13-34 year age range. Fullchair creates custom snapchat geo-filters for your events, like the one they created for ATV.
  • Mark Lummus – Small businesses who need software often use outsourcing and usually fail and waste a ton of time and money. Mark manages the product development process, on shore or off shore, as your Fractional CTO.
  • EventGig – Helps event planners connect to and manage payments for vendors all in one place. Like Angie’s List for specific events.

Some of the lessons that surfaced today were:

  • Who is your ideal customer today? As a startup, you must start somewhere, talk to someone specific, otherwise you’re talking to the whole world and therefore talking to nobody. Define your very best customer persona, and go after them. That definition will change over time, but you have to pick your point of attack.
  • The problem is not the solution. This one comes up almost every time. “What’s the problem XYZ startup is solving?” “They provide software as a service to startups.” Defining and articulating the very core problem you are solving instantly connects you with those who are experiencing that problem.
  • It’s ok to say that you “Dogfood your own business“, but make sure everyone understands what that means.
  • A good test of an elevator pitch is if it results in a meaningful discussion afterwards. This lesson goes back to the old adage, “You can lead a horse to water, but you can’t make him drink.” That’s a lie. If you put salt in the horse’s oats, he will be very thirsty when you reach the water. Your elevator pitch is the salt in your audience’s oats. When you make them thirsty for more, they will want more and you can get the next meeting. That is the goal of the elevator pitch.

See you next Friday at 1pm. Please help us launch the Pitch Practice Podcast at pitchpractice.co!

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