When Pitching a VC, Remember the KISS Principle
CMM June 11th, 2008
Pitching is the art/science of presenting your idea (see knifty picture) to interested parties. Since the audience may change with need (customers, validators, investors, employees, etc) and the need may change with maturity (seed, early, expansion, growth, etc), it is only natural that the pitch changes. Regardless of the audience, most good pitches come from a modifiable template that starts with a “hook.” The hook serves the purpose of getting the attention of the audience and should leave them wanting to hear more or ask questions.
Guy Kawasaki has a post about How to Pickup a VC. After going through 10 rather hilarious ways on how not to start a pitch, he gives the one sure fire way to do it… cut the crap and get to the chase. My military buddies call is the KISS principle– Keep It Simple, Stupid. Don’t feel obligated to demonstrate your superior knowledge or the technology’s awesomeness in the pitch. Instead, focus on the problem and your solution. Then, you can demonstrate your knowledge and preparedness in the follow-up questions (and meetings). Think back to dating. You don’t land a date with “that girl” by using cheap pick-up lines or self-promoting. You landed that date by focusing on her interests. VC’s are the same way. Focus on their interest (see my writings on the investment profile).
My favorite from Guy’s list… Entrepreneur says: “I’ve always wanted to be an entrepreneur.” Venture Capitalist thinks: “… and I’ve always wanted to be a professional golfer.” In my case, I’ve always wanted to be the lead guitar for a blues/soul/rock band.
I have to pitch a business plan before some VC’s in a couple of weeks for a simulation class I have to take this might be useful.