Micky was rolling the dice – he carefully plotted to run into a certain venture capitalist and deliver what he believed was a whopper pitch, which would dazzle the guy and fund Micky’s billion-dollar idea.
Micky would be better off rolling the dice at The Bellagio.
Micky’s First Pitch
“It’s a flash commerce transportation service for immediate transport needs. It will revolutionize transportation on a global scale. This is an app that will print money.”
- Using wild, unfocused fantasies.
- Jargon. Jargon kills personal engagement.
- Just throwing the idea out there, believing the idea will sell itself.
Even if Micky is pitching Uber, it’s still not a successful pitch, and it doesn’t work. Suppose it’s Uber, and he happens to be right–it’s still not a believable pitch, and it doesn’t work.
The Pocket Pitch
Before you formally pitch to investors, pitch to friends, fans and followers. I call it a Pocket Pitch. It’s the pre-VC pitch.
A Pocket Pitch is informal, friendly, personal, humorous, and shows how passionately engaged you are in your idea.
Tell a simple, repeatable story, and drop a lot of sound bites into the conversation. This makes it easy for friends to spread the word.
You can use it anywhere to enroll fans, followers, and customers – and it will hone and prepare you for a formal investor pitch.
Research proves that people invest in YOU first.
Your passion, your authenticity, your humor, your engagement.
Target the Lizard Brain in your audience. Aim your pitch to the part of the brain that makes decisions—to ask you for more, to follow you, to set up a meeting.
Here’s how to target the Lizard Brian and get the eye-popping attention you want.
- Make it personal. Make them laugh. Get customers and investors invested in you.
- Want more friends, fans and followers? Help them help you.
- Give good gossip. Give your fans and customers easy ideas that are fun to share.
- Involve them in your story. Let them see your excitement – it’s contagious.
- What do you love? What do you hate? Why did you come up with this idea? Tell us.
- Make sure you get their full-frontal attention — fast.You have 10 seconds to get their interest, according to David S. Rose, the “Pitch Coach,” who’s invested and raised tens of millions for his companies. I agree. The Lizard Brain will turn off after 8-10 seconds, and you will have a blank, bored face staring at you.
Here is Micky’s second Uber pitch.
It’s is a mini-pitch, followed by sound bites.
Deliver the sound bites throughout the conversation. They’re all designed to invite your customer into the world you’re creating.
Micky’s Second Pitch:
“Uber is a new mobile app that brings a driver to your door in 3-5 minutes. Your ride is pre-paid, it’s half to a third the cost of a cab, and you can see and contact your driver in real time.
It’s Flash Commerce.
It’s the market segment of Now and Near.
“I want to see Beyoncé and I don’t want to spend an half an hour parking. I hate the hassle.”
“I’ve got tickets for the Lakers, but I hate walking half a mile to my car. I want a driver in 5 minutes and I want to see exactly where my driver is on my phone.”
“This is a killer app for millennials. They can go clubbing, have 4 Cosmos, and get home safe.”
Sound Bites To Follow Up
“I need to go downtown on business but I hate the $35 parking fee. And I hate waiting for my car.”
“I love knowing what my ride will cost before I book it. ”
“I can go clubbing with friends and not have to worry about who’s driving. My driver is always 5 minutes away.”
“It’s a killer app for my mom, who can’t drive. I can arrange for her to go shopping, see the doctor, and get her hair done. All from my phone.”
“I can land in any city in the U.S. and never think about transportation. I never have to rent a car. ”
“It’s a killer app for parents. It solves the “how does my teenager get home safe” problem. ”
“I can call a driver any time without worrying about cash. The app takes care of everything with my credit card, stored on my account. ”
Build Followers More Quickly – Make it Fun
Is it easier to relate to Micky and his idea? Easier to repeat?
Try a Pocket Pitch, with a string of sound bites.
It’s a lot more fun, so your customers want to hear more.
And it can build your fan base twice as fast.
Why? When your customers are personally engaged, they have more at stake – in your idea.