1. Refine your value proposition and pitch like a pro
So, what exactly is a value proposition? Put simply, it’s how your idea creates value for customers and investors.
Your value proposition needs to be clear, tangible and memorable – can someone understand it in 5 seconds?
Some common mistakes people make:
– Rushing into execution: Don’t get too caught up with marketing, the team or the execution of your business/idea before thinking about the basics.
– Losing sight of your audience: Ask yourself; What are they after? Why would they want your product? What’s going to get them excited and consider you over anyone else?
– Delaying the tough questions: Don’t gloss over these! Start thinking about the worst-case situation immediately, so you can address the tough questions early on.
Think about your business, idea or pitch. Now write down your value proposition, based on the tips from above.
Stephen’s example for Woo:
‘Media brand and e-commerce redefining wellness through youth culture. Turning Gen Anxious to Gen Zen’
2. How to stand out from the competition and win over clients, customers, investors and the media
– Be subversive: What can you say and do that makes you stand out as a disruptor and leader?
– Invest in design: Good design makes your product feel tangible and helps an investor or client connect with your proposition emotionally.
– The ridiculous stat: Back up everything you say with stats and insight to support your talking points (and have them memorised!).
What’s something subversive about your idea, industry or pitch? Write down a stat or anecdote to back it up.
– Subversive fact: Long-form video is a great way to build brand equity with Gen Z.
– Reason why it’s true: Gen Z stream tv shows 3+ hours a day, building a culture of binge-watching long-form.
3. Asses the risk and prepare for the worst. Position your business for success
This is where you prepare for the worst and come up with answers to the questions you don’t want to think about!
Some things to think about:
– What are all the uncomfortable questions that the people you’re pitching to might ask?
– What makes your business not work?
– What claims have you made that can’t be validated and haven’t been done?
Calming your nerves and confidence is half the battle – they’re subconscious triggers that make people comfortable and that you know what you’re talking about.
– Over-prepare: Write down all the tough questions that you think you’ll be asked. Then, write down the answers and memorise them.
– Don’t underestimate wellness practices: Meditate to clear your mind or try sound healing and frequencies – they’ll help calm your nerves.
– Practice practice practice: Record yourself practising your pitch and listen to it – this will help you feel confident. It’s true what they say, practice makes perfect.