How to Pitch the Big Idea (part 1)

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Phase 0. Initial Contact

Phase 1. Introduce Yourself and the Big Idea

  • Ease the audience.
    • "This pitch is going to be short, just about 20 minutes, and you won't be hanging around too long afterward"
  • Pass some material:
    • Marketing, visuals, samples.
  • Start with your track record of success. 
    • Not all your projects, life history, or places where you worked for.
    • Things you built, and projects actually worked out.
    • Example: 
      1. "My degree is from..."
      2. "After I was at... for X years, my home run(s) were: a)..."
      3. "I left Y to work in the Big Idea"
    • Tell people one great thing about yourself and stop.
  • Set up the Why Now Frame. 
    • Start by thinking in the broadest terms possible, going back as far as you need to go, to understand and explain how it comes from the past into the present and why it is important.
      • "In recent years, there hasn't been much going on in the business of... In fact, it would be fair to say that the market has been dead."
    • Explain your idea in terms of an emerging market opportunity (use the Three Market Forces Pattern).
      • "But now things are heating up, first Financial..., second the Social/Institution(s)..., third Technology/Competitor...."
    • Picture the idea of moving out of the old market into a new one.
  • Introducing the Big Idea:
    • Use the Big Introduction Pattern.
      • "For companies with large buildings in California and Arizona"
      • "Who is dissatisfied with their aging solar panels." 
      • "My product is a plug-and-play solar accelerator"
      • "That provides 35 percent more energy from old panels."
      • "And unlike the cost of replacing panels, My product is inexpensive and has no moving parts."

Phase 2. Explain the Budget and Secret Sauce

  • Explain what Problems the Big Idea really solves and How it actually works.
  • Pitching numbers and projections.
    • Unrealistic budgets and miscalculating costs are the greatest risks to a growing company, especially a startup. 
    • Focus on demonstrating your skill at budgeting, which is a complex and highly regarded executive talent. 
    • Spend almost no time on your skills at projecting revenue, a task any simpleton can perform.
  • Explain the Competition
    • How easy it is for new competitors to jump into the game?
    • How easy it is for customers to switch out your product with another?
  • Explain the Secret Sauce.
    • Show what your competitive advantage is based on. 
      • This one thing will give you staying power against the competition.
      • Briefly describe it as your "secret sauce", the unfair advantage you have over others.
    • Ideally 3 minutes and no more than 10 minutes.
  • Hold the audience's attention.
    • Use any of the Three Tension Patterns.
      • YOU:  "Look there isn't too much else to do here. Let's call it the day, gentlemen thank you for your time.", pause, Person: "Is that all?". 
      • YOU: "You are a nonbeliever, why should we waste time in Kabuki [theater]"
      • YOU: "Guys, since you can't think of any questions to throw at me, let me get those materials (those which you gave at the beginning of the presentation) back from you." Start walking around taking them gently out of their hands. In some cases pull more aggressively. Now they had something to lose and questions should start flowing.
    • Withdraw any material if you are not stopped when leaving.

Phase 3. Offer the Deal

  • Describe to your audience what they are going to receive when they decide to do business with you. 
    • You'll want to push through this quickly for the sake of time
    • In clear and concise terms
      • Tell the audience exactly what you will be delivering to them.
      • When it will be delivered, and how. 
      • If they play a part in this process, explain what their roles and responsibilities will be. 
      • Don’t drill down into a lot of detail
      • Just provide summarized facts that they need to know so that their mental picture of your offering is complete.
    • It does not matter if you are offering a product, a service, an investment, or an intangible—there will be a fulfillment process involved, and that is what you must explain. 
  • Keep it brief but rich in high-level details so there is no question as to what the audience is going to get. And remember, the most important deliverable in your deal is you.

The Three Market Forces Pattern: Trendcasting

  • Economic Forces. 
    • Explain what has changed financially in the market for your Big Idea.
    • Forces that have a significant impact on business opportunities.
    • Forecast trends, an important development in your market and beyond. 
  • Social Forces. 
    • Emerging changes in people's behavior patterns exist for your big idea.
  • Technology Forces. 
    • Technological change that favors the Business Model or Industry of your Big Idea.

The Big Introduction Pattern

  • "For [target customers]"
  • "Who are dissatisfied with [the current offerings in the market]"
  • "My idea/product is a [new idea or product category]"
  • "That provides [key problem/solution features]"
  • "Unlike [the competing product]. My idea/product is [describe key features]"

The Three Tension Patterns

  • Low-Key, Low-Intensity Push/Pull Pattern. 
    • PUSH: "There's a real possibility that we might not be right for each other."
    • Pause. Allow the push to sink in. It must be authentic.
    • PULL: "But then again, if this did work out, our forces could combine to become something great."
  • Medium-Intensity Push/Pull Pattern. 
    • PUSH: "There's so much more to a deal than just the idea. I mean, there's a venture-capital group in San Francisco that doesn’t even care what the idea is—they don’t even look at it when a deal comes in. The only thing they care about is who the people are behind the deal. That makes sense. I’ve learned that ideas are common, a dime a dozen. What really counts is having someone in charge who has passion and experience and integrity. So if you and I don’t have that view in common, it would never work between us."
    • Pause. 
    • PULL: "But that's crazy to think. Obviously, you value people over smart ideas. I've met corporate robots before that only care about numbers—and you are definitely not a robot." 
  • High-Intensity Push/Pull Pattern. 
    • PUSH: "Based on the couple of reactions I’m getting from you—it seems like this isn’t a good fit. I think that you should only do deals where there is trust and deals you strongly 
    • believe in. So let's just wrap this up for now and agree to get together on the next one." 
    • Pause. 
      • Wait for a response. 
      • Start packing up your stuff. 
      • Be willing to leave if the target doesn’t stop you.

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How to Elevate your Social Status

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Beta Traps

A beta trap is a subtle but effective social ritual that puts you in a low-status position and works to keep you there.
  • The lobby - tells you to be a well-behaved person.
  • The conference room - tells you you're a jester and you'll be valued based on the quality of your entertainment. 
  • The public spaces - these are the most deadly beta traps and should be avoided. 
    • These places tell the others "I'm needy", like a puppy in a cage.
Your social value is fluid and changes with the environment you are in or the environment you create. 
  • While the global status of our social standing may remain whatever it is, our situation status can be mobilized in order to temporarily create a high-status position whenever that is needed.
    • The person is going to assign you an automatic calculation of the social value based on:
      • Your wealth.
      • Your power.
      • Your popularity.
    • From the calculation, a frame will be fixed.
    • The calculation is often unconscious.
  • If you wish to elevate your social value in any given situation you can do it by redirecting people into a domain where you are in charge - it's called local star power.

Elevating Social Status

The first thing to do when you meet a person is to establish local star power.

  • If the meeting happens on your turf:
    • Use your domain expertise and locational knowledge to take a high-status position.
  • If the meeting happens in the other person's domain (office or off-site location)
    • Arrive on time.
    • Choose a frame and force a collision at the most opportune moment.
    • Politely avoid social rituals that reinforce the status of others.
  • Look for opportunities to perpetrate small acts of denial
    • Use your local star power and redistribute some of this status to others in the room who will support your frame.
    • Don't force an error, wait for it.
      • Once the opportunity appears to say, "I need a glass of water" then disrupt the other person's frame.
  • Quickly move the discussion where you are the expert.
    • Ignore parts of the conversation that do not support your pitch.
      • Magnify the ones that do. 
    • Use Information dominance to quickly shrinks the frame around your area of specialization, making you unassailable.
      • You are the expert. 
    • Move the discussion to a level where you can't be challenged by using the primary core values.
      • Hard work, dominance expertise, and moral authority.
  • Apply Prize Frame
    • Positioning yourself as the reward by making the decision to do business with you.
      • "Remind me again why in the world I want to do business with you?, (let the person responds), Yeah, that's good. I'll keep it in mind"
    • Keep the person qualifying back to you as often as needed.
      • e.g.: "Have you ever done a deal this large?"
  • Before the other person reacts, quickly begin to pull away:
    • "Whoa, look at the time, I've got to run. Listen, guys, thanks for your attention today. If this works for you let me know it."

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How to use Frames for Social Interactions

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What is a Frame?

Frames are mental structures that shape how we see the world (a.k.a: point of view or perspective). In business, frames pack your power, authority, strength, information, and status.

  • Everyone uses frames.
  • Social interactions bring different frames together.
  • Frames do not coexist.
  • The stronger frames absorb weaker frames.
  • The winning frame governs social interaction.
  • Frames involve social desire.

Choosing a Frame

  • When entering a social situation, ask: "What kind of frame am I against?". 
    • Be ready to change the frame as the social interaction evolves.
  • When you are in the middle of an interaction:
    • If you're reacting to the other person, that person owns the frame.
    • If the other person reacts to what you do and says, you own the frame.

Types of Frames

  • Power Frame. Derived from the fact others give this person honor and respect.
    • How to detect it:
      • Arrogance, lack of interest, rudeness, imperial.
      • Oblivious to what others think. 
      • Poor judges of the reaction of others.
      • Willing to take unmeasurable risks.
      • Telling others what to do.
    • How to combat it:
      • Avoiding reacting to the other's frame.
      • Do nothing to strengthen the other's frame.
    • How to set it up:
      • Perpetrate a slight denial or,
      • Act out some type of defiance.
      • Play the give-and-take power frame game if needed.
        • Do not abuse when you have control.
    • Examples:
      • Place a folder on the conference table labeled "Confidential"
        • When the target reaches for the file, you grab it and say:  "Uh-uh, not yet. You have to wait for it."
      • Bring some visuals.
        • When the target sneaks a peek and then, and then when you see him curiously looking.
        • Turn it over, take it away, and say: "Not until I say you are ready."
      • Respond to a comment with a small but forceful act of defiance.
        • Person: "Thanks for coming, I only have 15 mins..."
        • You: "That's okay, I only have 12, but you are serious too."
      • Be defiant and funny at the same time.
  • Analyst Frame. 
    • Disrupted by Intrigue Frame. 
  • Intrigue Frame. 
    • How to detect it's needed:
      • When somebody asks for details.
      • When communication is not flowing back and forth (nonreactive state).
        • The person shows disinterest or shows mind wandering. 
        • The person thinks they can predict your idea before you explain it.
      • When extreme and nearly total loss of alertness. 
        • Lost of mutual connection.
    • How to set it up:
      • Respond with a "Summary of Data" you prepared for this specific purpose.
        • Redirect the attention back to your pitch.
      • Tell an Intrigue Story, a brief but relevant story that involves you:
        • It's a personal story that you have prepared in advance.
        • You are in the story's center to redirect the attention back to you.
        • There has to be some suspense, risk, danger, and uncertainty.
        • There should be time pressure.
          • Clock ticking
          • There are ominous consequences if action is taken slowly.
        • You are trying to do something but are being blocked by some force.
        • There should be serious consequences, failure won't be pretty.
    • Disrupts the Analyst Frame.
    • Examples:
      • In financial deals: "The revenue is X, the expense is Y, this and other factors you can verify later but right now what we have to focus is on this: are we a good fit? Should we be doing business together?"
      • When the audience's attention begins to shift to analytical questions:
        • Tell your Intrigue Story.
          • "This reminds me..."
  • Time Frame. This often happens when attention is beyond the human span.
    • How to detect it:
      • You see attention being to wane.
      • People become fatigued.
      • You have been pitched for a few minutes.
    • How to combat it:
      • When attention is bottom out and expires, that's it.
    • Hot to set it up:
      • Stay in control of the time and wrapping up.
        • Do not try to speed up to go through the rest of the pitch.
    • Examples:
      • During a meeting:
        • "Hey, it looks like time us up. I've got to wrap this up and get to my next meeting."
        • If they are interested, they will agree to a follow-up.
      • Rush to meet with you:
        • Person: "Hi, I only have about 10 minutes to meet with you..."
        • You: "No, I don't work like that, there isn't sense in rescheduling unless we like each other and trust each other. I need to know, if are you good to work with?, can you keep appointments? and stick to a schedule."
  • Prize Frame. Tells people "You are trying to win my attention, I am the prize, not you. I can find some others like you but there is only one me."
    • How to detect it:
      • Missing appointments, the person arriving late, delaying to start.
    • How to combat it:
      • Ask the others to get organized.
        • "So you guys are asking me to delay the start? Okay, I can give you 15 mins to get organized, but if we can't start by, let us just call it a day."
      • If the person doesn't show up:
        • Do not deliver your presentation or any other material.
        • Do not apologize.
      • Make the person qualify himself to you.
        • "Can you tell me about yourself? I am picky about who I'm working with."
      • Make the person perform a legitimate task to earn a deal. 
      • Take the time to step back and withdraw.
        • Don't be needy.
      • Embrace the idea that money is a commodity.
    • How to set it up:
      • Place the frame by telling them at the beginning of the meeting.
        • "I'm glad I could find the time to meet you today. I do have a meeting right after this. Let's get started."
  • Moral Authority Frame. Tells people: "We are right, you are wrong."
    • How to detect it:
      • The others do not have the moral or rightness to act as they do.
    • How to set it up:
      • Be prepared with an agenda to make things, with an actionable step-by-step involving acknowledgment by you of each of the actions that you ask them to do.
      • Tell them why you are right and they are wrong.
        • "You have done/not done X, Y, and this is/not is what agree/it isn't right, and you know that...(immediately lay out your agenda)."
      • Tell them your agenda:
        • "This is what will happen, 1)... 2)... 3)..."
      • Tell them as they speak:
        • "Your lips are moving, but I am not listening to a single word, your words have no meaning. Stop talking start...."
      • Tell them what you are going to do:
        • "You know what, I've had enough of this. Get out of here now, I'm going to call the cops..."
      • Tell them what will happen to them.
        • "Let me paint a picture for you: (describe personal consequences to them, their assets, or relatives). Is that how you want to end today?. The other option is to start..."
      • Tell them how you will check progress,
        • "(call their name), every 15 minutes you are going to give me a deliverable that means - just so you understand me perfectly- something happens that benefits me. Cancel your schedule, do not leave this room, pick up the phone and start..."
      • Commit to your frame and keep it strong (plowing).

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Smart Brevity

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Smart Brevity is a way to create, share, and consume information and a formula for communication effectiveness.

The Formula

  • The Headline.
    • Write the reason why you're even bothering to write. 
      • Express your main idea in a provocative yet accurate way. 
      • Use short, strong words that zing, and sprinkle with active verbs.
      • In 6 words, tops, get right to the point.
    • Read your headline out loud. 
      • Confirming it sounds like something you want or needs to know more about. 
      • If it doesn't reach this standard, try again
  • State One Big Thing.
    • State your most important point in ONE sentence.
      • Imagine you're speaking with someone you really like. 
      • Tell them what happened or the idea that has just come to you.
    • Try:
      • Boil down your most important point into one statement.
      • Skip the anecdotes, adverbs, weak words, or extraneous words. 
      • Be direct, succinct, and transparent. 
    • Ask: 
      • If this is the ONLY thing they remember, is it exactly what you want to stick to? 
      • If you answer NO, rework it and try again.
  • Explain Why It Matters.
    • Put your ideas into a digestible context.
      • WHY IT MATTERS
      • THE BIG PICTURE
      • WHAT'S NEXT
      • WHAT WE'RE WATCHING
      • BETWEEN THE LINES
      • THE BACKSTORY
      • CATCH UP QUICK
      • ZOOM IN
      • ZOOM OUT
    • Always bold WHY IT MATTERS or other axioms. 
    • After you state WHY IT MATTERS.
      • Explain in one sentence why the information in your first sentence is essential.
      • Whether something will change, a new trend, or relevance to something else, is building.
    • Make your sentence direct and declarative, adding to your opening thought.
  • Options to Go Deeper.
    • Ending with "Go Deeper/The big picture/Learn more" to deliver depth and detail.
      • Give the reader the option to GO DEEPER if they want to.
    • Use lots of bullets to break up clumps of text.
      • Use bullets to explain three or more ideas or data points.
    • Bold your axioms.
      • Make each paragraph no longer than two or three sentences, and add bullets, charts, and axioms to break up the flow.
    • Know when to stop.
      • State your facts, and stop blathering on

Tips and Hints

  • Use the right words.
    • Use strong words.
      • Words that are vivid, precise, and easy to visualize.
    • Purge weak words.
      • Words that tend to be multi-syllable.
      • Don't use "vicissitude", use "change".
      • Replace "ubiquitous" with "everywhere".
    • Avoid foggy words.
      • Words that express uncertainty 
      • Don't use could, may, might, etc. 
      • Instead, use what "is" happening. Be definitive.
    • Embrace short, crisp, and punchy phrases
      • "Revenue boomed", "Cubs lost" or "I quit".
    • Use active verbs.
      • To inject action and movement into your writing. 
      • Replace "The situation in Afghanistan continues to deteriorate from a security perspective" with active alternatives: "The Taliban have retaken Afghanistan."
  • Use emojis.
    • They help instantly signal the tone or topic of an item, saving you and the reader time by getting them in the right headspace.

When and Where Use Smart Brevity.

  • Newsletters.
  • Workplace:
    • Write all your messages, emails, memos, and updates using Smart Brevity.
    • Encourage everyone who reports to you to do the same.
    • Internal presentations and PowerPoint
      • Start with a slide articulating your ONE big idea.
        • Make one point on each subsequent slide. 
      • Use clean and simple graphics.
      • Boil everything down to single sentences, 20 words or less. 
      • And limit your entire presentation to 5 or 6 slides max. 
      • End where you began, with ONE big idea.
    • Always communicate inclusively
      • Write in plain language, and use bullet points to break up the text.
      • Keep it simple.
  • Emails:
    • Start every email with a short, direct, and urgent subject line.
      • Tell people why they need to open this email NOW.
    • Put your ask or your key piece of information in the first sentence – ALWAYS. 
      • Make people feel like they have to read on.
    • Always add some context – include "Why it matters".
      • Use a consistent style that becomes a replicable framework. 
    • Add bullets – make it easy for people to skim your email. 
    • Bold keywords and figures – anything you want to stand out to the reader.
    • Include some clean and intuitive visuals.
      • To help amplify or give life to important points.
  • Meetings:
    • Decide whether you genuinely need to meet.
      • Or whether everything could be better handled as a one-on-one chat.
    • Set a time limit whenever you organize a meeting.
      • 20 minutes is usually sufficient. 
      • Test whether 5 - 10 minute micro-meetings will work as well.
    • Open the meeting with a headline 
      • The one-sentence objective was circulated in advance.
    • Explain "why it matters".
      • Let everyone know why they are in the room, and what they contribute.
    • State clearly and concisely what specific decisions need to be made.
      • Everyone is focused on making those decisions and ending the meeting.
    • Have a quick and inclusive discussion.
      • If someone goes off-topic, point that out with a smile.
    • When 2 minutes are left, bring the discussion to an end:
      • Summarizing the meeting takeaways.
      • Getting specific about the next steps.
    • End on time.
      • Send out a follow-up email.
      • Bullet points detailing who will be responsible for each follow-up action.
  • Speeches.
    • Prepare to speak.
      • Forget about PowerPoint, notes, and teleprompters.
      • Get people to focus on you.
    • Aim to get the audience to remember ONE point or lesson.
      • In 15 words or less. 
      • If you don't know what this is, your audience certainly won't.
    • Hit your audience with your point.
      • Directly stating, "The one thing I want you to remember from my speech is ..." 
      • State it cleanly and directly.
    • Always explain "Why it matters" to your audience
      • Provide context on why they should pay attention to what you're saying.
    • Bring your big thought to life.
      • Using interesting stats, great stories, and memorable quotes. 
      • It pays to number your points so you have verbal bullet points in your speech.
    • Reinforce your big thought at the end.
      • Directly stating, "Remember, if there is one thing you take away ..."
      • Then say thank you, and end graciously.
  • Social Media.
  • Visuals / Infographics.
    • Start with a strong concept
      • This will usually be something uncluttered.
    • Edit out superfluous elements.
      • You're left with something worth seeing and noticing.
    • Be direct.
      • Always look at it from the perspective of the person you're trying to reach. 
      • Judge your work solely from their perspective.
    • Create a visual hierarchy.
      • Make your most important visual clue something which will catch the eye of the reader. 
      • You then offer visual context in color, depth, or visual setting.
    • Always respect your audience.
    • Avoid abstraction, clutter, and confusion.

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