We’ve all seen startup pitches that run the gambit of style, subject and theme. Some founders approach their pitch like ninjas, methodically traversing topics as if they were rooftops before landing at their intended point; others instead act more the part of a wild-eyed evangelist, with their business plan in one hand and product in the other, describing what would be a most harrowing set of market circumstances should their venture not move forward. Whatever the particular style may be, the most successful pitches tend have an approach that is familiar with the person presenting. Entrepreneurs who find a way stay true to themselves with regard to the style of presentation they give, tend to be better received by the audience and often derive a higher level of credibility for their vision because of it. That being said, a pitch is also something that has to be molded to fit the goals of that particular presentation. There is one specific issue that I see many entrepreneurs face, regardless of approach, when making their pitch: that being how much detail to go into about their product or service.
From the suave MBA grad, to the pseudo infomercial salesman, to the nerdy (but endearing) inventor/techie type, all presenters at some point face the dilemma of deciding how detailed of a product walk-through to offer when pitching. It can be a real challenge to hit the proper stride during the product portion of a pitch – go into too much detail and the audience is left overwhelmed, and focusing on reasons not to buy into the vision; offer too little detail and the presenter seems unprepared with a lack of product knowledge. Finding that perfect amount of depth to go into when describing a product offering can be just as complex as the products or services themselves.
In general though, a good starting point for entrepreneurs to address this issue is by using an approach that has worked well for many presenters in the past – that being to offer a quick overview of the product vision and then focus only on a select few use-cases of how it can begin adding value to users immediately. Or, simply put, to forget about trying to describe the whole globe and instead paint the picture of a snow globe.
What does pitching the snow globe really mean? Well, it is mainly about finding one scene, one moment, one instance in a product’s lifespan and describing that at a certain depth. Rather than trying to describe every page, every feature, every bolt and every pixel, and THEN walking people through the entire genesis of conceptualization, and THEN describing how it is implemented in each marketplace and THEN talking about the vision of what might be in the future, presenters should try instead to start with a high-level product statement and then choose a limited number of use-cases that paint one detailed transaction with their product. Presenters should think about one client type (the true target market) and then walk the audience through how that interaction occurs. At that point, they can layout a map for expanding on the value added ability of this part of their product for that particular user group. Ultimately, they should leave the lion share of grandiose details and “big picture thinking” on the office whiteboard and try to narrow their audience’s vision a bit on the product being described.
Pitching the snow globe is by no means a one-size-fits-all solution. When all is said and done, the pitch approach should be curtailed to meet the specific needs of a given situation. The reality is (and by the way, savvy investors/judges/audience members know this) that entrepreneurs can never be 100% sure of exactly how their product will be used until they get it into the market place. The bottom-line is that entrepreneurs shouldn’t take the bait when it comes to describing, at length, each and every possible application of their product from now and to infinity – instead they should embrace the opportunity to streamline their pitch and walk the audience through that one moment of their product’s life that will leave them interested, engaged and ready to get on board.
What are your tips and tricks for handling the product portion of a pitch?
