The Three Forces
We learned all about framing techniques in Part 1 of Pitch Anything. Klaff now gives an overview of the three market forces and trending patterns.
The first pattern is the economic force meaning the financial patterns. Will your product or service make customers wealthier? Is more credit available? Are there any increases or decreases in interest rates?
He then discusses social patterns and the emerging changes in people’s views for your product or service. For example, if your target audience doesn’t get enough sleep, then what can you do to solve this problem? How will your product or service help people solve a society problem?
The last one is the technological force and how you will be able to keep up with the newest developments? Will you reinvent your product to keep up? Will you pick an industry where the technological force is more gradual? That is up to you!
Pitching Your Idea
This is a great template we recommend you use for all out future clients:
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/solutions]
My idea/product is [describe key features]
This template has proven to meet various businesses needs when making business deals. Oren Klaff also teaches us a multitude of ways to offer your deals while maintaining the attention of your audiences. When you lose that attention, you lose the deal.
While the case studies were very informative, his frame works are easy to apply to your pitches or startups. Klaff claims that many start-ups fail because they are miscalculating costs and budgets. He suggests focusing on demonstrating your skill for budgeting so you do not fall into that category. Make sure you have some element of surprise such as a sustainable competitive edge over your rival. While you continue to generate greater value for your company, the more difficult it will be for your competitors to neutralize the advantage.
For anyone attempting to raise money for a new venture or if you just want to learn how to sell your business idea to a venture capitalist, I encourage you to read Oren Klaff’s book, Pitch Anything. Your pitch needs to be attention grabbing, making use of hot cognitions so the audience feels the desire to have something without completely understanding why they need to have it. The prize is landing the deal. In his book, Klaff gives resourceful examples that you can apply to your everyday life. I cannot emphasize enough that Oren’s approach to sweet and simple and powerful. Discover what I am talking about by diving into Pitch Anything!
Book Review: Pitch Anything By Oren Klaff Part 2
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