We come across a number of free goods and services on the web today. They’re really free and they work great! Ever wondered how this works fiscally? If so, hit play.
This is a Pechu Kuchu style presentation. It consists of ten slides, 20 seconds in length each.
How would you present your web product to a venture capitalist or journalist in 60 seconds?
As I watched through the London-based Future of Web Apps (FoWA) conference, I took from it something unexpected: a plethora of absolute must-kep-in-mind guidelines when pitching a product, particularly a web product.
FoWA, internet entrepreneurs have an initial 60 second pitch to explain their product to a panel of impressive experts including TechCrunch’s representative, Mike Butcher and LastMinute founder Brent Hoberman.
When pitching a product,
1. Show the interface.
There’s probably a lot of detail that goes in to your product. So much so that you may actually omit a demo (at least a screenshot) of it in action from a pitch.
Leave your company philosophy at home or condense it in to a single sentence that you mention in passing. If you have a good product, effective explanation greatly outweighs sales tactics.
Don’t beat around the bush.
If you can’t do that then perhaps it’s time to consider purchasing a thirty minute late night TV slot for an infomercial?
2. Explain it and it will sell itself (if it’s good!).
Leave your company philosophy at home or condense it into a single sentence that you mention in passing. If you have a good product it’ll sell itself- effective explanation is often the best sales tactic in this industry.
Chances are that whoever you’re pitching to has seen a product pitch or two in their time. Don’t beat around the bush. Be direct. If you can’t do that then perhaps you ought to consider a late night TV slot for an infomercial.
3. Pretty (traffic) charts help.
I mean analytics. The second most important item- aside from the product demo and explanation- is user activity. Mike Butcher was very direct in his insisting that this is a key component, saying
“If you show a VC that graph, they will literally throw money at you.”
“That graph” refers to an upward analytics curve that proves traffic increase. The more exponential it looks, the better.
4. Don’t be afraid to exhibit passion.
“Don’t be shy with letting passion come through. If you’re in love with your product and we’re not, we’ll think we’re missing something” – Hoberman aptly explains.
This entire article would make make a lot more sense if you watched the video of what I’m referring to, by the way.
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