A value proposition statement is an easy to understand, concise, intuitive statement that summarizes why a consumer should buy a product or use a service. It explains how a product/service solves a pain point, communicates the specifics of its added benefit and states why its better than similar products … in 5 seconds!
VALUE PROPOSITION HAIKU
Our [product/service]
Helps [key stakeholder]
Do [job/task]
By [enhancing gain / reducing pain]
Here is a general outline for the components of a pitch as outlined by Arthur A. Boni in his 2011 article:
1. Title Slide. Needs to be engaging....grab with pictures and a story.
2.. The Problem: Illustrate a clear market need, gap or problem that your technology helps solve.
3. The Solution: Explain how your product/company solves that problem in a way that is unique and profitable.
4. The Business Model.
5. The Management Team.
6. The Technology. Explain how your technology works in simple terms, how it is unique and patented.
7. The Market / Customer. Market size, growth rate, market segments, etc.
8. The Competition.
9. Finances.
10. Current Status of your offering / company.
Adapted from Boni's The pitch and the business plan for investors and partners, Journal of Commercial Biotechnology (2012), 18, 38-42, doi: 10.5912/jcb.509.
1. Know your audience and prepare to sell. Research the investor and anticipate questions.
2. Stay short and focused. 10 slides, 20 minutes and 30 point font. Use pictures and charts.
3. Ask yourself, "So what?" Anticipate that the audience may not understand the significance of something that you understand very well and be prepared to explain it and its business relevance - in simple language. Avoid jargon.
4. Practice, practice, practice.
Adapted from Boni's The pitch and the business plan for investors and partners, Journal of Commercial Biotechnology (2012), 18, 38-42, doi: 10.5912/jcb.509.
