I love watching ABC’s Shark Tank. It is an hour-long show whereby entrepreneurs who feel they have an outstanding product, service or invention pitch their offering to the Sharks in hopes of obtaining capital and the Sharks’ expertise.
The entrepreneurs who dare to enter the Shark Tank must convince the tough, self-made, multi-millionaire and billionaire tycoons to part with their own hard earned cash.
In exchange for the Sharks’ cash investment, the entrepreneurs offer a percentage of their company’s equity. When the Sharks assess the presenter’s presentation as a true money maker, they’re ready to fight each other for the opportunity to win over the presenter.
But if the pitch is poorly presented, the Sharks will tear into the ill-prepared presenter(s) and pass on the idea with a simple “I’m out!”
So if you have watched an episode of Shark Tank or ever witnessed a desperate business owner trying to pitch his/her product to a potential customer (could this be you?), you may have observed something interesting: the person listening to the pitch knew within the first 15 seconds how the meeting was going to end.
If you are not totally and completely prepared the first time around, you are not likely to get a second chance. There are 10 things that every potential investor, buyer, associate or Shark wants to know. Everything else is just commentary.
If you want to be successful in presenting you recommendation, product, service or point of view follow the 10 – 20 – 30 Rules!
- 10 Slides – It’s all you’ll need to get them hooked. Anything above 10 slides is not necessary – it’s just follow-up.
- 20 Minutes – Ideally, the presentation should take 15 minutes maximum, followed by Q&A.
- 30 Point Font – If it doesn’t fit on the slide, it doesn’t belong in your plan.
So Here is What Your Presentation Must Include:
- Who is on The Team – Who are you and who’s on the team? (some venture capitalist suggests putting this at the end. I say, introduce yourself up front).
- Your Compelling Story – How did you get to where you are and who did you bring with you? (be concise and to the point).
- The Problem – Describe your target market and the problems or needs they are experiencing.
- The Magic That You Bring – Why you are better than everything and everyone else out there.
- Is There a Demand – Present proof that the market actually wants what you are offering.
- What is the Bottom Line – How can you prove that people will actually pay for what you sell?
- What is the Attraction Factor – How do you intend to let your ideal clients and target audience know you exist?
- The Exit Strategy – How long you plan on staying in before you get out?
- The Vision – What are the long-term growth options for your product or company?
- What’s the Call to Action – What’s your next move and what do you need in order to provide an excellent return on investment?
This presentation must be focused and concise. Remember you only have ONE chance! Make sure you walk away with the Academy Award and if you end up on ABC’s Shark Tank, the words you want to hear are: “I’m in!”
P.S. Just one question: Would the ‘Sharks’ Invest In Your Product or Service?© Copyright 2012 Laureen Wishom