SlideMagic Blog

As I am making slow but steady progress with my presentation app I have had a chance to sit on the other side of the table: being the one who pitches an idea, rather than my usual role as a presentation designer who gets pitched with business plans. Observations:

• Yes, not everybody loves your idea like you do (but all designers do)
• Most people form an opinion about your business without actually understanding/getting to what the truly great thing about it is
• Spending dollars on designers becomes a whole different thing when it is your own money
• When you live and breathe your own story, you actually do a lousy job pitching it to an outsider who has never heard of it. Having a pitch deck at hand (guess what, I do not have one) might actually be handy to slow myself down and take someone to the story that I assume to be common knowledge.
• People point out - rightfully - that it is not only about product, I need a market strategy

When listening to these people I hear myself speak when discussing client presentations. Funny. In any case, the process is making me a better presentation designer.

Most business presentations address the financials of an idea at some stage. Resist the temptation of using a cartoonesk clip art image to introduce the topic. Financials are serious stuff and you are not asking for your weekly candy allowance from investors or corporate decision makers.

Last night I attended a startup pitch event in New York where contestants had 60 seconds to pitch their idea, followed by 2 minutes of questioning by a panel of judges. Some observations on elevator pitches:

• No slides (everyone got that right)
• Get right to it, no uh oh, my background is, a small joke
• Most important thing in 60 seconds: get people to understand what you actually do. When rehearsing the 60 second pitch (easy to do) test not only whether people like your idea, but more importantly, do they understand what your idea is. I struggled to understand about one third of the ideas, and I am used to deciphering startup pitches, so it must have been worse for other members of the audience. Luckily the panel of experts was helpful and dragging it out of people in the Q and A. Example: an in-restaurant ordering system actually turned out to be a $3,000 table where guest could order food using an integrated touch screen.
• Avoid going down a feature list, a user can do this, a user can do that, instead stick to the overall concept
• Do end your pitch with something more uplifting than “That’ it!”, even if you feel embarrassed that there are still 25 seconds left on your clock. This is actually a good thing.
• Tell people why the thing you do is so tricky. Example: nobody really got excited about a group video chat app until we learned that they solved a very complex technical issue in establishing a 1-to-many live video connection in 2 seconds
• Breathe, pause, speak calmly. It is better to skip a few points than speaking to rapidly, nervously.
• In this case, the audience had a say in selecting the winner. They use different criteria than the professional VCs in the panel. For an audience entertainment value, or actually even the ability to remember what you were about after 20 pitches might be more important than the credentials of the founding team of your company. Pick the right battle, at the right time.

I enjoyed talking to Israeli and Palestinian MEET graduates last Thursday about pitching at demo days. Here are some of the things we talked about:

• Objective: get to the next meeting rather than landing the full investment which you will never be able to pull off in five minutes
• 101: bullet points are boring (everyone knows this by now) and buzzwords do not work
• Entertainment: marathon investor pitches wears out the audience. When you are the first up, you need to make sure people still remember you at the end of the day. When you are number twenty seven, you need to make sure everyone is still awake. Make sure your pitch is high on entertainment value, while staying professional at the same time
• Five minutes: you cannot solve the time limitation by cramming in more content (denser slides, speaking faster), so chop those slides that are not important for the purpose of your pitch (getting to the next meeting). Detailed financial forecasts, team bios, technology explanations, can all wait for later
• Carefully plan your app demo. Show what you want to show, do not spend time on boring log in screens. Tell what the audience is seeing, it might be obvious to you that things are beautiful and fast, the audience does not see it. If you can, avoid a live demo in a 5 minute pitch and instead go for fail-proof screen shots
• One story throughout. If possible tie everything (consumer problem, your solution, demo) to one consistent case study throughout the entire five minutes.
• Rehearse until you drop. Five minutes of content can be rehearsed until you know the content in and out. Spontaneous guitar solos sound spontaneous because the guitarist knows her scales  and melody lines so she can improvise them

Investors are not always 100% rational people. The other day an investor shared one of his criteria with me. If an entrepreneur has been hit by 14 cases of pure bad luck he is convinced that it will happen again for attempt 15. “Some guys are just not lucky.”

I was asked to answer the question “What makes a compelling pitch deck?” on Quora, and here is what I replied:

You can write books about this, so without giving a table of contents (Google it) here are some thoughts:

• Something that explains what you actually do (yes, some decks don’t)
• Something that intrigues a potential investor enough to have another meeting with you
• Something that answers the big obvious elephant in the room questions (“What, that sounds like a page rank search engine”)
• Something that shows through language/visuals/style/in-between-the-lines that you are a decent, honest, professional person to work with

Before taking your pitch to your target investors it is important to practice your story for real. There are different guinea pigs available, recognise their strengths and weaknesses:

1. Your co-founder is blinded by the idea, just like you
2. Your parents probably do not really understand the concept but love everything you do
3. The speech coach really understands articulation, stance, and story flow, but will not spot that huge gaping hole in the business model
4. The friend of a friend of a friend who is an angel investor will suggest that you should make a comparison to that company featured in TechCrunch 2 months ago
5. The friend of a friend who owes a favor and is a VC does not really have time to go into the idea and will suggest to beef up the competitive analysis a bit, unfortunately he does not invest in businesses that are this early, come back in 6 months…
6. The casual friend who wants to be friendly but does not know you very well, does not have the courage to say what she really thinks
7. The management consultant sees problems everywhere and will suggest more analysis and risk mitigation

Still, each of the above has valuable input, just put it in context.

The common way to present people that endorse you is a bullet point list of names and titles. Make that much more powerful by changing that to a mosaic of faces. Avoid the uniform conference-speaker-headshot-gallery, rather:

• Use different image formats (B&W-color, suit-jeans, etc.)
• Use a different aspect ratio than the 3:2 passport picture (landscape for example)
• Use action shots (people presenting standing on stage)

Now this makes for a much more dynamic visualisation of the people who support you.

If you are writing an investor presentation you can Google what questions should be covered:

• What is the market?
• What is the competition?
• What is the business model?
• Who is in the team?

Or, you can take it one step further and already anticipate the most obvious questions an investor might have:

• I am doing something similar to Google, is that smart?
• I look like I am 21, isn’t that a bit young to run a startup?
• We have been working for 18 months and still there is no prototype, will it ever arrive?

Smarter questions lead to smarter investor presentations.

This question often comes up when we start discussing the first sketches of a presentation.

Videos are great, it is a studio quality recording of a presentation, you can do it over and over again until you get it perfectly right. In addition, you have more visual tools at your disposal to support your message.

Having said that, if there is no story, a flashy video is not going to change that. That is why I advise my clients to start with a regular presentation, slowly add more video-like slides to it (faster sequencing of images / shapes) and only then make the leap to video (and that can go in 2 stages, one a narrated recording of your video-like presentation slides, and two a professional animation).