The most practical book on pitching, build a perfect pitch deck and fundraising! I knew that this book would be brilliant (even before I bought it) after seeing Evan Loomis live video on Facebook where he was teachinghis class. The way he teach was so amazingly novel which lead me to buy this book and read it.
What’s brilliant about this book is the fact that it includes all the topics that you should know about pitching, building pitch deck & fundraising, from how to craft & tell your story, prepare & design your pitch deck (slide by slide), pitching exercise to the moment on how to build your network & raising money. All the topics were carefully designed so you could just follow step by step instructions/framework that were taken based on real experiences of entrepreneurs who have done it before. So you could read about the amazing stories, and just follow the practical examples!
When I said practical, I mean they were all really practical! In one part of the book for example, you could find the number of ways that you could use to craft your pitch by using the specific framework. And in the other part of the book, you could even find the email template that you could use to follow up with the people that you just met.
This book is full of great examples, inspiring stories, and very friendly and easy to understand to those who just started their venture or thinking about starting one. This is the one of the books that every entrepreneur should have and I could see myself carrying it around with me all the time.
Above all, this is the most I could tell you how amazing this book is and below will be my key takeaways:
(note that these are just some short points that I found interesting & easy to go through. To really see the contents, you should read the book yourself :))
# A startup is an organization in search of a business model, not an organization with a plan to execute - Steve Blank
# The greatest advantage of a pitch deck was that is allowed the presenter to tell a great story
# If you want advice for your startup, ask for money. If you want money, ask for advice
#Elevator Pitch
:: Don’t talk about what your product does, talk about what it does for your customer
:: The secret to all great pitches is learning to combine the familiar with the intriguing
# People don’t empathise with big, general problem; they empathise with the struggles of specific people with names & faces
# Never use bullet points for your solution slide! (or all slides if it is possible)
# Investor don’t want to feel that a venture needs them
:: Traction helps convince an investor that the idea is going to be a success no matter what
# Vertical Market - Market in which vendors offer goods&services to an industry, trade, possession or customer
# The art of market sizing is deciding what key characteristics differentiate your customers from everyone else in the world in order to make those calculations.
# Many venture find TAM (Total Addressable Market) by searching industry profiles from big research companies like Garther, Forrester etc.
# Cash Flow :: Will it make money? When?
# Time Spent for Pitch Deck
:: 25% - Architecture
:: 75% - Components that really differentiate your deck
# Story
:: Origin, Customer, Industry, Venture Growth
# If you want to get people fired up about an idea, they need to know why you are fired up about that idea first
# The difference between a great idea you’ve never heard of & one that’s changed the world is it’s originator’s ability to tell a damn good story
# What makes a good story?
:: Things happen
:: Your five senses give you access to vivid details
:: Conflict
# Great stories have a unique rhythm that carries the listener from the beginning and middle to the end, through a constant tension between what is and what could be
# Fonts, like all good design, should be felt, not seen
# Plan your opening
:: Show that it’s not all about money - begins conversation with something but money
:: Complete the Transfer of trust - Talk about mutual connection
:: Show confidence
:: Put them at ease
:: Make it about them
:: Show gratitude
# Make it about them
:: Everyone has a desire to be perceived as smart & interesting
:: When people feel smart, they feel empowered
:: When they feel empowered, they open up and share their ideas
# Find Commonalities
:: The mutual friend who introduced you is the most obvious commonality you’ll share with the people you meet
# People take meetings expecting to have conversations
:: So make it a conversation
:: Get phenomenally interested in the person across from you
:: His life should be so amazing to you tat you would want to write a book about it