I ran across a very solid piece from the upcoming Canadian TV show "Dragon's Den" today and it's worth sharing. If you're a successful entrepreneur or inventor, you probably already know about elevator pitches and how to sell and market your new product.
But, sometimes, the best advice is the simplest and easiest to forget. You get so close to the product that you get lost in the trees and the details and you've lost your audience before they even knew what hit them.
When you're pitching a new product, keep it simple and focused. In the 1500+ inventions I've reviewed, it's shocking to find only about 5% of folks actually can make a good sales pitch.
Thesis briefly stated is thus:
1) If you can't state your problem and solution in 30 seconds and on a single page, keep working on it before you submit your idea.
2) Make it simple enough so your 6-year old daughter and your 73-year old grandfather can understand what you're saying.
Pitch = Pain Statement + Value Proposition in plain English.
The original piece and video (strongly recommended for all aspiring inventors and entrepreneurs) is here. Video is 2 minutes, on YouTube, and elegantly simple. Definitely worth the reminder and right up there with "Run the Experiment" in terms of our Top Ten List of Rules for Success at EIP...
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