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3 Ways a Blue Ocean Strategy Applies to a Sales Pitch

In a highly competitive environment, only the best businesses survive. You’ll have a harder time establishing your own brand in an already crowded market. But what if you create your own niche, a place that only you have total control over?

The blue ocean strategy, or the creation of an uncontested market, aims to do just that. This business strategy was derived from W. Chan Kim and Renee Mauborgne’s book of the same name. However, the danger of innovation is in the high risk you’ll be taking. There’s a possibility that people may or may not take the bait, leaving you with a failed project. When you introduce your product or service to the market, it still needs to appeal to people.

Fortunately, we’ve listed down three steps to effectively drawing prospects into your blue ocean during a sales presentation:

Blue Ocean Strategy

1. Specify

The key to any successful sales presentation is to map out a concrete plan.

Although a blue ocean strategy aims to disrupt the industry with a new product, you can’t just jump in blindly without considering a few important things. These include your business objectives and your target market’s needs and wants. You can’t leave any loopholes or be vague about your offered features.

Have a clear vision of what you want to do. Doing this helps your audience better grasp your main point because you’re introducing something that these people haven’t heard of before.

If you’re still working on a general idea, Katherine Arline’s article on Business News Daily elaborates on Blue Ocean Strategy’s concepts. This includes the book’s four-action framework to help you flesh it out. There are four key objectives in this framework, namely:

  1. Raise the industry’s standard
  2. Eliminate outdated factors
  3. Reduce those factors
  4. Create a new space in the market

Answering each consideration, in turn, gives you a better view on the logistics and feasibility of your overall plan.

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2. Strategize

Now that you have your content in place, it’s time to strategize how you plan to sell it. Even the most revolutionary product will go to waste if you can’t convince anyone to invest in it.

One way to get people’s attention is to align your objectives with theirs. Researching your audience will go a long way towards determining prospects’ needs and wants. This may mean you’ll have to tweak your initial plan for better marketability.

Another possibility is to observe and follow current trends in the existing market. This makes your product target specific people with existing biases that make them ideal prospects. Knowing their interests is important for successfully convincing them of your product’s benefits.

As a guideline, you can follow the AIDA method. With this, your main goal is to attract the audience, interest them in your offer, convert that interest into desire, and eventually lead them into action.

3. Act

After strategizing, you’re ready to present your product. Similar to other styles, presenting a blue ocean is convincing people of its benefits compared to existing products. On the other hand, its advantage is that it can cater to something that has never been tackled before.

Apply your research in real life by crafting your speech around it. An audience will be drawn in by something that benefits them and piques their interest.

Make sure you have good visuals to back you up. A good slide deck is needed to complement your enthusiasm and creativity. A boring pitch deck with too much text and unappealing graphics might turn off your prospects. Get inspiration from color psychology and other graphic design principles that can elevate your content’s appearance.

Considering these three measures can make your pitch engaging and keep people’s attention much longer.

Summing It Up

Reaching out to a specific target market can be difficult, but making one for yourself is even more challenging. Here’s a review of how to prepare a powerful sales presentation and make your own niche market:

  1. Make your product as specific as possible by having set goals and an outline on achieving it.
  2. Align your product with your prospects’ interests to strategize your plan of action.
  3. Prepare a speech backed up by extensive research and let your slide deck support your content.

If done well, pulling off a blue ocean is a gratifying experience for any business that can bring you a lot of profit.

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References:

Arline, Katherine. “Blue Ocean Strategy: Creating Your Own Market.” Business News Daily. April 1, 2015. www.businessnewsdaily.com/5647-blue-ocean-strategy.html
“What Is Blue Ocean Strategy?” The Wall Street Journal. n.d. guides.wsj.com/management/strategy/what-is-blue-ocean-strategy

Featured Image: “Blue Ocean” by Andrea on flickr.com

Product Demo 101: Learning the Basics

What’s one of the best ways to convert potential clients into paying customers? Aside from pitch decks where you get to wow your audience, there’s another scenario where you can achieve the same results. Imagine it: You already have a prototype of the product you’re trying to market, and you’re looking for people who will gladly take your offer; you think an amazing deck won’t be enough, so you decide to take things up a notch and do a demo.

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However, you don’t know the first thing about product demos. Sure, you’re a rock star when it comes to pitches and public speaking, but demonstrations can be different. For one, instead of handling two important elements—yourself and your deck—you add one more: your product. And balancing that act can be stressful, especially when you’ve got hundreds of eyes staring at you and you know that a lot is at stake. Another is that there’s a new dynamic in audience engagement, a level that places you closer to them—and them to you and your product.

Look at the bright side, though. If you do remarkably well, then you’re sure that your audience will take a good, long, hard look at your product. And when they like what they see, they might just want to have your offer. Then, you’re on your way to closing deals left and right. But that is if you do remarkably well.

So, how do you go from A to Z of a product demo? What can you expect from showing off your product in front of a live audience? Are there even benefits to doing so? How do you even begin preparing and how do you start off a demo? Let the following infographic tutor you on the basics of a product demo, and the dos and don’ts during the proverbial curveballs during your time onstage.

Resources:

Kokemuller, Neil. “The Purpose & Benefits of a Product Demonstration.” Chron. n.d. www.smallbusiness.chron.com/purpose-benefits-product-demonstration-55113.html

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Presenting Your Business Pitch with Confidence

Not everyone has what it takes to be an entrepreneur. There’s a wide set of skills and traits you have to possess in order to become an effective business leader. Among those traits is self-confidence, a natural magnet that can draw people to you and make them want to listen to what you have to say. As such, it’s an invaluable skill during a business pitch.

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To entice potential investors, you need to appear and sound confident while pitching your idea. Investors are naturally drawn to leaders with high self-esteem because it signifies strength of character, another trait necessary to lead a business venture forward. As Larina Kase, a psychologist and author, said, “True confidence is not thinking that you’ll get a great result. It’s knowing that you can handle any result.” When the path towards success is dark and murky, confidence can carry a strong business leader through.

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How to Boost Your Confidence for a Business Pitch

There are things you can do to pump up your spirits before facing investors and presenting them your business model. Here are seven of them:

1. Look and sound the part

The thing about confidence is that you don’t need to have it to look the part. You can carry yourself with poise even if you’re feeling intimidated or scared inside. There are a few things you can do to package yourself for success: dressing well, correcting your posture, minding the pacing of your speech, using precise language, and smiling. In other words, by making a conscious effort to look confident, you can make a good impression.

2. Exude conviction from every pore

To sell a business idea, you should be able to show investors how passionate and committed you are. They’ll try to gauge whether you really know what you’re doing, so make sure that you remain composed but enthusiastic throughout your business pitch. Make the investors believe in your potential to succeed. To achieve this effect, you have to communicate a certain aura that tells investors how confident you are about your product. This means avoiding uptalk and articulating a statement with a declarative—not an inquisitive—tone.

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3. Know your key differentiator

To identify your business’s primary selling point, ask yourself what your edge is as opposed to competitors. Why should investors choose you over businesses similar to yours? You must have something unique to offer to make your business pitch stand out. Apart from this, you should also be able to explain what your worth is to investors. How can they benefit from your business? What gains can they expect, and when?

4. Find an external manifestation of success

Perhaps the best way to gain self-confidence is to find an external manifestation of your business’s capability to survive and succeed. It’s easier to sell a business idea if you have something tangible to back it up. An example of an external validation of success is a solid customer base that raves about your product. A sizable social media following that has positive things to say about your company is also a good proof that you’re breaking ground. Determining your niche is crucial during the first stages of business development because if you sell to the wrong customers, your business is bound to flop. On the other hand, with the right audience, you can improve your revenue and boost your credibility, which will ultimately attract investors towards your business.

5. Solve problems before they appear

Amateur entrepreneurs who only want to impress investors often make the mistake of acting like they’re immune to disasters. They’re hiding behind the assumption that their business model is so perfect, it can’t possibly be taken down by any future problem. As a general rule, before you present your business pitch to an investor, you should think through the possible challenges that you may encounter along the way. If possible, look for various solutions for each issue so that if one fails, you’ll have a backup to fall on. Set up contingency plans for when things don’t go as planned. By making sure that you’re prepared for the ugly as well as the good, you’ll be able to present yourself as a competent leader who can weather the storm when the worse comes to the worst.

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6. Rehearse and refine your business pitch

Preparation is key to any speech. As with any other field, achieving a certain level of self-confidence takes time and an immense amount of effort. Research also plays a major role on how competent and confident you will appear in front of a panel. Make sure that your presentation has no loopholes and that everything goes as planned.

7. Worry less and just do your part

Fussing over the aspects of your business pitch that you can’t control will only stress you out. Instead of worrying over the negative aspects of your situation, just focus on the positive. Don’t zero in on your weaknesses as that will only distract and discourage you. Instead, strive to turn your weak spots around and let go of the things you can’t change. Optimism can go a long way in boosting your self-confidence, so try to appreciate the good parts as much as you can.

Above all else, smile even if you don’t feel like it. As Christine Clapp, a public speaking expert at George Washington University, said, “Smiling not only makes your voice more pleasant to listen to; it also conveys confidence…. You will appear friendly, approachable, and composed.” That reason alone should be enough for you to flash a smile during a business pitch.

If you follow the aforementioned tips, you’ll be closer to improving your self-esteem. Just be patient and remember that confidence is built over time. With determination, you can stand in front of a panel of investors and present your business in the best light possible.

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Resources:

Connick, Wendy. “How to Find Your Unique Selling Proposition (USP).” The Balance. June 19, 2017. www.thebalance.com/how-to-find-your-unique-selling-proposition-usp-2917402

Landrum, Sarah. “10 Secrets to Sounding Confident.” Fast Company. July 20, 2015. www.fastcompany.com/3048748/10-secrets-to-sounding-confident

Lobb, Jennifer. “How to Pitch Your Business Like the Pros on Shark Tank.” Nav. December 28, 2016. www.nav.com/blog/how-to-pitch-your-business-like-the-shark-tank-pros-15102

Whitmore, Jacqueline. “9 Ways to Show More Confidence in Business.” Entrepreneur. September 30, 2014. www.entrepreneur.com/article/237634

“How to Give Investors Confidence in Your Business Idea.” Virgin Startup. n.d. www.virginstartup.org/how-to/how-give-investors-confidence-your-business-idea

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Are Mind Games Still the Secret to an Effective Sales Talk?

If you’ve been in direct sales, then you know what it’s like to: 1) get the initial attention of a potential buyer, 2) maintain said attention on you, 3) promote your product, 4) keep the customer from walking away, 5) end your spiel, 6) somehow manage to induce your prospect to purchase your offer, and 7) thank your buyer and end the transaction. Rinse and repeat. Of course, this may be a gross, basic oversimplification of the whole process, but the main steps are there.

Let’s face it: even if trained salespeople have gone through the cycle hundreds of times, it’s statistically impossible that they have a 100 percent success rate. The next best thing is to reduce the number of naysayers. But how does that work when people are turned off by sales talk? By playing on their psyche.

Let’s be clear: this isn’t manipulating their minds into buying what you’re offering but rather talking to them and making them see the benefits of having your product. For that, you must know what you’re about to go up against.

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Types of Customers

Depending on who you talk to, there are generally four types of customers. Retail expert Rick Segel segregates them as The Director (likes to take charge), The Analytical (analyzes the finer details), The Relater (knows someone from everywhere), and The Socializer (loves to build relationships).

In a HubSpot article, Leslie Ye classifies customers as Assertive, Amiable, Expressive, and Analytic. While there are obvious similarities between Segel’s and Ye’s lists, i.e., Assertive and The Director and Amiable and The Socializer, the difference is that Ye has the Expressive that lean more on how a purchase affects customers and those around them.

With those laid down, how do you sell to them? The following are the bottom lines.

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Appeal to Emotions

Knowing how to deal with diverse customers is the basic of sealing a deal. By pleasing them despite their very different natures, you satisfy a golden rule in sales: making them happier. And that leads to better experiences. Basically, good customer service equals great customer experience.

For your part, flexibility is always welcome. With the multitude of people coming through the door, you’re bound to find yourself in a conversation with your potential client, and you’re expected to be able to cater to their personalities. Got an Assertive type? Cut to the chase, lay the down the facts, and don’t waste their time. Got the Socializer? Then by all means, socialize with them. Engage them in a friendly conversation and build that relationship.

In those ways, you can show them that you’re not taking a one-track-mind approach and considering only the profit of a sale. Make them feel that their trust and loyalty are the best things you can have.

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Appeal to Aspirations

There are people who buy because of impulse, while there are those who carefully plan their expenses. Despite these—or perhaps because of these—sellers often don’t consider the far future and are only concentrated on the moment.

Rather than doing that, though, when you’re having a conversation with your potential buyer, cater to their present needs and show how your product can provide a “better” future. After that, maybe they can present an easier manner of how people around them work or a more efficient way of doing things just because of their simple purchase. By meeting that expectation, you enrich how people view themselves and give them the opportunity to do something good.

This subconscious aspiration to be respected—that sense and level of self-esteem—is always good to enrich because this is one way you get your clients to trust you.

Conclusion

Over the years and after many refinements in the art and techniques of selling, most people have their defenses up. They turn a deaf ear to blatant sales talks and a blind eye to obvious schemes. In short, don’t underestimate your potential clients.

People are more aware of the mind games, so these don’t work anymore. So, what do you do? Be human when you do your sales talk. Instead of putting up a wall between seller and buyer, do your best to connect with your customer. Being honest and genuine are traits most people look for in a relationship, so why don’t you start that chain? You’ve nothing to lose and much more to gain.

Resources:

Corbett, Barr. “The Best Sales Pitch Ever.” Fizzle. November 16. www.fizzle.co/sparkline/the-best-sales-pitch-ever

Dachis, Adam. “How to Plant Ideas in Someone’s Mind.” Lifehacker. October 21, 2014. www.lifehacker.com/5715912/how-to-plant-ideas-in-someones-mind

Segel, Rick. “4 Types of Customers and How to Sell to Each of Them.” Business Know-How. n.d. www.businessknowhow.com/marketing/personalities.htm

Ye, Leslie. “How to Sell to 4 Different Personality Types.” HubSpot. December 13, 2016. blog.hubspot.com/sales/how-to-sell-to-different-personality-types

“Mind Games: Can We Use Psychology to Grow Sales?” Pharmacy Magazine. July 31, 2015. www.frontshop.co.za/mind-games-can-we-use-psychology-to-grow-sales

“The Rule of Esteem – How Praise Releases Energy.” Westside Toastmasters. n.d. www.westsidetoastmasters.com/resources/laws_persuasion/chap12.html

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The Real Cost of a Poor Presentation

The truth may be more prevalent than you would like to admit, but it’s unhealthy to ignore the fact that there are good presentations, and there are also bad ones. If you could give an estimate, how many from the total number of existing presentations are poorly made? Around 50 percent? That’s a big number. Assume for a second that, around the world, there are over a billion PowerPoint files today. That’s 500 million at the very least.

With all the design and content tips littered all over the Internet about making the best pitch deck, you’d think that by now, everyone can create decent slides. But let’s not get too idealistic. PowerPoint is tricky to master, especially when you consider how people have different reactions to presentations in general.

Should you cater to their wants then? “Yes” would be a short answer, but it has serious implications for your succeeding attempts at presentation. For example, when you’re creating a pitch deck. You can’t make a one-fits-all since it’s practically impossible to create slides according to the preferences of every executive you’re looking to impress. It’ll be a mishmash of different styles, and that can be distracting.

Does it mean that this is a hopeless case? Of course not. The best you could do is minimize the negative effects of a bad pitch deck presentation, like death by PowerPoint. Other suggestions are doing your best to create the most visually appealing deck people will ever see or hiring a good team of presentation specialists to make awesome slides—as long as you avoid using poorly designed presentations. Why? Because you stand to lose more than just cash by crafting pitch decks or sales presentations sloppily. The infographic below will help you see that you shouldn’t be worried with just your profit margins because you put at risk something bigger than money.

Resources:

Griffith, Eric. “17 Tricks to Master Microsoft PowerPoint.” PC Mag. October 14, 2014. www.pcmag.com/feature/328357/17-tricks-to-master-microsoft-powerpoint

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Closing a Deal Without Assuming a Salesperson’s Role

Contrary to popular opinion, there’s nothing inherently wrong with hard selling. If you know you have a wonderful product that should see the light of day, then by all means go and sell it hard. However, you need to be wary of the caveats and repercussions that you may encounter along the way. Make sure that when convincing a prospect of the value of your business, you remain honest and true. Also, before going around and trying to talk people into investing in your product, make sure that you’re adept enough to communicate and empathize with them.

The problem with most salespeople today is that all they care about is closing the deal. They don’t bother about being honest with the consumer. They hardly go out of their way to find out what the consumer really needs. This is exactly why sales agents have developed a notoriety so ill that people recoil when they see a salesperson trying desperately to catch their eye. The harsh truth is that being a salesperson today is synonymous to being pushy and annoying. If the economic landscape is to reach a higher bar, this stigma has to end.

The Logic Behind Using a No-Pitch Promotion

No one can change the salespeople’s reputation but the salespeople themselves. Many companies have already figured out the right ways to reach consumers without distressing them. Surely, a lot more would follow if only they knew how. If you still haven’t employed the right techniques in selling without coming off as obnoxious, here are two of the main reasons why you should change your ways now:

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  • To take the pressure off the audience

What seems to be the salespeople’s role today is to serve themselves and their company. However, there should be a shift in perspective. Instead of thinking of their own good, salesmen should serve customers and see how they can help alleviate their concerns. Instead of inconveniencing prospects, salespeople should strive to make matters easier and more convenient for them.

The last thing you want as a salesperson is to give the impression that you’re trying to squeeze every penny out of your customers. Shoving the product down the customers’ throat won’t make them pay for it. Put them at ease and let them be comfortable so that they can make that decision for themselves.

  • To differentiate yourself from corporate players

One of the advantages that a small business holds over a goliath is that it has an option to personalize the customer experience. Customers like it when they’re treated in a special way. This is why even big players in the business field should try to mimic the small-business model of sales. As a salesman, you should be more personable. Take your time in easing the prospect into your business. Instead of rushing to pocket the money, let the sales process unfold. If you focus on attending to your client’s needs before anything else, the deal will close itself.

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Four Proven Ways to Sell Without Being Aggressive

Most salesmen are torn between hard selling and using alternative sales techniques that are subtler and less aggressive. On the one hand, hard selling makes a salesperson feel like s/he has done everything in his or her power to gain a new customer. On the other hand, it is usually a turn-off to customers, and therefore, a big no-no. Fortunately, there are easy and effective ways to sell without sounding like a salesperson. Here are some of them:

1. Be transparent about your business processes

Make your business processes open for the public to see. Share every thought and effort that went into creating your product or developing your service. Tell your prospects what went wrong and what worked out in the end. In other words, lay your brand bare before them.

By doing this, you’re essentially inviting people to trust you and see you not as a business without a face but as a familiar friend whose struggles and successes they had the privilege of knowing. By being vulnerable and letting them into your business’s personal bubble, you’re giving them an invitation that they can’t turn down. The bottom line? Genuine stories sell.

2. Demonstrate what your product does

Merely talking about the product won’t cut it. To persuade a crowd of skeptic consumers, you need to let the product speak for itself. Show your prospects exactly how your product works so that they can judge for themselves whether it’s good enough to satisfy their needs. A product demonstration is a quick and effective way to tell someone just how great your offers are without actually telling them.

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3. Pitch at the right time and in the right place

Timing is key in every field, and it’s not surprising that it’s just as important in sales. A good salesperson can tell when it’s appropriate to approach a customer with a product offer or when it’s best to just drop it and focus on addressing the customer’s immediate concerns instead. Watch for external cues that will give you hints on whether or not a customer is open to a sales pitch. If you insist on troubling a prospect, you might end up losing a potential client for good.

4. Focus on addressing the consumer’s pain points

It only makes sense that if you let your prospects do the talking, you can’t possibly annoy or offend them. In fact, if you assume the role of a listener from the start, it’s likely for them to relax and feel comfortable around you. That said, before you make a pitch, make sure to hear out your customers’ side of the story first. Let them spill out their concerns so that you can thoroughly assess the situation. Only talk when you know that you have something useful to offer. Your proposed resolutions should revolve around their problems. Remember, the goal is to help the customers, not to take their money.

The approach to sales described here isn’t new or farfetched. In fact, it has been used by top marketers for many years now. However, until every salesperson learns how to use the methods of soft selling to better attract and gain customers, the reputation of the sales world will be stuck in the dead zone.

Resources:

Charles, Jeff. “5 Easy Ways to Sell Without Being Pushy or Obnoxious.” Small Biz Trends. August 31, 2015. smallbiztrends.com/2015/08/easy-ways-to-sell.html

Flynn, Pat. “How to Sell Without Selling: The Art of No-Pitch Promotion.” Smart Passive Income. May 20, 2014. www.smartpassiveincome.com/how-to-sell-without-selling-the-art-of-no-pitch-promotion

Gregory, Alyssa. “12 Tips for Using a Soft Approach to Make the Sale.” Sitepoint. June 22, 2010. www.sitepoint.com/using-a-soft-sales-approach

Iannarino, Anthony. “Don’t Mistake Selling for the Hard Sell.” The Sales Blog. May 28, 2010. thesalesblog.com/2010/05/28/don%E2%80%99t-mistake-selling-for-the-hard-sell

Nornberg, Vanessa M. “3 Ways to Tell When a Customer Is Ready to Be Sold.” Inc. August 8, 2014. www.inc.com/vanessa-merit-nornberg-nornberg/3-ways-to-tell-when-a-customer-is-ready-to-be-sold.html

Verrill, Ashley. “How to Sell Without Sounding Like a Salesman.” Scott’s Marketplace. July 17, 2013. blog.scottsmarketplace.com/how-to-sell

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What Makes a Winning Investor Pitch Deck?

Whether your business is small or multinational, one thing will always be present. Barring the basic constants (employees, profits, losses, gains, etc.), in one way or another, you’ll always find yourself in a meeting room, giving or receiving a pitch. With the former, how well you do could spell the survivability or demise of your startup company or the guarantee of funds for your next big project. It doesn’t need saying, but a pitch is an important step toward success.

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This is why you’ll more likely fret over nailing your pitch the first time rather than wait for a redo. You’ve got the public speaking skill to charm your audiences, but of course, a good support will take you further. That support is your investor pitch deck. You’re already aware of what makes a pitch deck presentation powerful. At this point, what you need to know is what makes your presentation—and by extension, your business—the winning choice.

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Major Paradigm Shift

When technology advances as quickly as one can say “supercalifragilisticexpialidocious,” the world changes as well. Take for instance the evolution of news material from the invention of the printing press to the few short years after online articles became a thing; today, print lags behind digital.

In the same way, figure out what paradigm shift is causing the problem you’re trying to solve. In Andy Raskin’s article, he says Zuora, a software company, has the “greatest sales deck” because they start off framing a change that not only arrests attention but also puts in perspective how the “shift affects [the audience], how it scares them, and where they see opportunities” all at once. During that fleeting moment, you hint where your pitch is going without saying it outright, but just enough to spark curiosity.

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Additionally, doing so nicely sets up the…

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Problem

One thing that pitches always highlight is how a product works vis-à-vis a solution. “My/Our product can do this and that with these features and those upgrades. I/We believe it’s something that can help people.” There’s nothing wrong with that; in fact, it’s basically a must. If you truly think your business is something that can be beneficial to your target market, or even society, then you would spill your heart out on why your interpretation of a solution is better. But a more general question to ask is, “How bad or big is the problem?”

Put as much flair and buildup into the problem you’re trying to solve as much as you do into your solution. This will give your possible investors a glimpse of, if not completely understand, how said challenge affects people on a larger scale, how your product addresses that, and even your motive and drive to continue working on your proposed solution. Doing so will put into context your enthusiasm during your pitch. It will then be more memorable, and they’ll realize you’re the correct choice.

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Data

Before you even started your business, you already researched extensively on your target demographic, logistics, and the many other particulars for your enterprise. Then you release your product, even if it’s an alpha or a beta demo, and gather your results. Keep those numbers and feedback in hand; you’ll need them just as much as the initial research because that’s what you wow your pitch audience with.

Figures give a more concrete achieve and set a more realistic standard than hypotheticals, especially when accompanied by testimonials from customers. Framing and hyping the climax of your pitch is a method of romancing the audience that makes them want more. When you’re done setting up the real numbers for a “hypothetical” product to get their hopes up, that’s when you take them by surprise (but not really, given that you’re pitching something to them) and introduce your…

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Solution

This is the first time they’re hearing about your actual product. All the data and testimonials you’ve thrown to your audience now have something to fall on—a kind of “a name to a face” logic. You already went all-out with your first few slides, so it’s time to let your proposed solution stand on its own. Don’t just focus on the features that people loved; show and tell what sets you apart from your competitors and why investors should pick you.

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Since this is the crux of your pitch, continue with the same level of eagerness you had in the first part as you go for the last stretch. Just because you’re ending doesn’t mean you can let up. If anything, a better conclusion results in a more powerful impact that can guarantee your cashflow and move to a brighter future.

Pitches shouldn’t be necessarily difficult, but when you consider the pressure you feel because of the supposed “life-or-death” outcome of either a small business or a project, the stakes become higher. Don’t let yourself buckle down because of the pressure though. Once you ace this, you’re on your way to more exciting prospects.

Remember what you need to focus on and emphasize on your deck. It’s about your company, your product, and your passion. You may be out looking for funds, but it’s only a step toward your larger goal: solving a problem you know society shouldn’t deal with.

Resources:

Chuang, Alex. “The Quick and Dirty Guide to Creating a Winning Pitch Deck.” Startup Grind. n.d. www.startupgrind.com/blog/the-quick-and-dirty-guide-to-creating-a-winning-pitch-deck

Eckler, Daniel. “How to Design a Pitch Deck: Lessons from a Seasoned Founder.” Medium. n.d. www.medium.com/swlh/how-to-design-a-pitch-deck-lessons-from-a-seasoned-founder-c816d1ae7272

Harroch, Richard. “How to Create a Great Investor Pitch Deck for Startups Seeking Financing.” Forbes. March 4, 2017. www.forbes.com/sites/allbusiness/2017/03/04/how-to-create-a-great-investor-pitch-deck-for-startups-seeking-financing/#db6b7f62003e

Lee, Aaron. “30 Legendary Startup Pitch Decks and What You Can Learn from Them.” Piktochart. n.d. www.piktochart.com/blog/startup-pitch-decks-what-you-can-learn

Lenaerts, Sven. “10 Presentation Design Tips (for the Best Pitch Deck).” Envato Tuts+. May 25, 2016. business.tutsplus.com/tutorials/10-presentation-design-tips-for-the-best-pitch-deck–cms-24860

Raskin, Andy. “The Greatest Sales Deck I’ve Ever Seen.” The Mission. September 15, 2016. www.themission.co/the-greatest-sales-deck-ive-ever-seen-4f4ef3391ba0

Welton, Caysey. “Across Age Groups, Print Lags Far Behind Digital and TV as a News Source.” Folio: Magazine. June 21, 2016. www.foliomag.com/across-age-groups-print-lags-far-behind-digital-and-tv-as-a-news-source

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Throw Away Slides from a Bloated PowerPoint Deck

Quantity doesn’t mean quality when it comes to a presentation.

You might think having a lot of slides in your deck is a sign of hard work.

Having too many slides could be seen as a delaying tactic and reflects poorly on your credibility as a speaker.

You have better things to do than spending a lot of time making hundreds of slides when less than half the amount will do.

Focus on the quality of your content and be free from a bloated pitch deck presentation.

When Is Enough Enough?

Letting slides pile up is a lazy attempt at looking prepared. It also comes off as a delaying tactic that places too much attention on background information.

After all, no one will question the amount of time and effort spent at making all those slides.

It’s impressive to look at now, but audiences are going to fall asleep from your pitch deck epic.

Don’t challenge their attentiveness and focus.

This isn’t a contest to see who can stay awake the longest.

Important clients won’t be impressed by the length of a presentation. Chances are that they’ve seen this delaying tactic being used by unprepared speakers and will avoid listening to you when you try it on them.

Save everyone’s time by being brief and to the point.

Focus on What Matters

The reason why it’s hard to let go of so much content is uncertainty.

Not knowing which information to keep as your main point and then hanging on to more and more ideas out of fear will only hold you back.

June Saruwatari’s expertise as a productivity and organizing consultant advocates organizing your physical space around the goals you want to achieve.

In the context of presentations, this means you should prepare an outline first so your slides will become easier to manage and be more cohesive.

The foundation you create will actually save you more time in the long run, even if it seems counter-intuitive to spend time on it.

A bloated PowerPoint deck will also result in a larger file size.

This will be a problem if you need to share you file with others.

Large files are more difficult to share online since they’re more likely to exceed the limit for file attachments.

Using the Right Moment

There must be a really good reason why an idea needs to be explained by a lot of slides.

It’s not impossible to engage audiences even when you use up a thousand slides in your deck.

You can speed through a lot of slides in under a few minutes as a storytelling technique.

Use only one word or image per slide and rapidly move through slides.

But not all decks can rely on this delivery style to get its message across.

A good outline will give you a more coherent and organized presentation.

Streamline Your Process

The number of slides you have on your deck won’t guarantee success.

It’s detrimental to have too many slides because it creates too much delay.

Don’t just look prepared by relying on an excess of slides, be truly prepared by mastering your content.

Drafting an outline will save you more time to focus on other areas of your presentation.

Fewer slides in your deck also means a smaller file size that will be easier to share, so think twice if you really need to use a lot of slides.

The general consensus is to throw out anything that doesn’t serve a purpose in your deck so that your main ideas can shine.

 

References

 “The Psychology Behind All That Clutter You Can’t Get Rid Of.Fast Company. May 4, 2015. Accessed October 21, 2015.

Featured Image: “cluttered” by linus_art on flickr.com

Creating an Effective Financial Presentation

At some point in your career, you’ll have to give at least one complex and data-heavy presentation. It’s inevitable for entrepreneurs to venture into the financial side of business and deliver fiscal reports such as those involving business charts that reflect the company’s performance against goals and financial analyses.

But the thing is, financial data can be boring. They may appeal to analytical brains, but what about the rest? In order to hold your audience’s attention, you need to make your financial presentation interesting. Don’t just conduct a data dump. Explain where the figures come from and how they affect your audience. Provide examples as to how those numbers can be relevant in their lives.
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In other words, harness the power of financial storytelling. Present a narrative-driven angle that will give your presentation a new light. Show the numbers but let the story behind them shine through.

Mastering the Art of Financial Storytelling

Financial presentations don’t have to be dull. Here are some tips to successfully deliver an intellectually-stimulating yet engaging presentation.

1. Pattern your presentation after the GPS approach

Organize your facts and figures by planning your presentation. Create a structure so your message will be clear from start to finish. One method you can apply to achieve this is the GPS approach.

First of all, identify who your audience is. What’s the extent of their knowledge and the level of their expertise? Once you know this, you have the starting point. You can then proceed to identifying the goal of the presentation. What would you want the audience to think, feel, understand, or do when you step out of the limelight? What end point are you trying to achieve? This is the destination.

From there, it’s just a matter of choosing the best route. How do you go from Point A to Point B? Outline your main idea first, then follow it up with the supporting ideas. You can create a script to help you with internalizing the flow of the presentation.

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2. Establish credibility from the outset

Since you’ll be presenting critical figures, it’s important to appear trustworthy. Cultivating credibility and cementing a good reputation will make it more likely for your audience to believe in what you’ll say. If necessary, use supporting materials to validate your claims.

3. Outline your goals to build anticipation

If you inform your audience about the goals of your presentation, they’ll be more prepared to process any chunk of data you give them. It helps them to follow along since they already know what to expect and what material you’ll cover. It allows them to focus on the goal and take part in your presentation. 

4. Follow the three-part story structure

When communicating the story behind your data, it’s good to divide your narrative into three parts: the beginning, the middle, and the ending.

Start your presentation by describing things as they are. This is key to creating a bond with your audience. If you tell them something that they already know or can agree with, you ignite a small fire of recognition in them. Naturally, that will make them more interested in your talk.

After establishing the facts, you can show them how things could change. Establish a gap between what is and what could be. Make sure your claims hook and intrigue them enough.

Finally, when concluding your financial presentation, don’t forget to include a call to action. Introduce what presentation expert Nancy Duarte calls the “new bliss,” a state where your audience’s world can be a lot better if they adopt your ideas and follow your suggestions.

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5. Employ visuals instead of spreadsheets

Don’t limit yourself to Excel. Embrace the perks of technology so you can create a financial presentation that drives home with your audience. Present numbers, graphs, and tables using pitch decks.

However, if you really want to take your presentation to the next level, you can ask a presentation design specialist to do the job for you. Let an expert turn your numeric data into graphics and visual images that are equally credible-looking and interesting. Your audience will be able to better make sense of your presentation this way.

6. Use simple and effective design elements

To make your slides more visually appealing without going over the top, use a sans serif font instead of a fancy one. Also, choose a template that isn’t too loud. Observe a good balance of colors to avoid design clutter. If you can, use a color contrast calculator to make sure that the colors in your presentation match. 

7. Reiterate your claims repeatedly

According to the Edelman Trust Barometer, you need to be exposed to a piece of information three to five times for you to absorb it and act on it. Also, you need to hear it from different sources for your brain to validate the information. Repeat your message throughout the presentation, but say it in different ways.

Keep Calm and Speak Like a Pro

With the proper tools and the right techniques, you can be more confident in delivering a good financial presentation. All you need is some storytelling and a few basic design skills. If you prepare well, you can get your message across without losing your audience in the process.

Resources:

Duarte, Nancy. “Structure Your Presentation Like a Story.” Harvard Business Review. October 31, 2012. hbr.org/2012/10/structure-your-presentation-li

Jeavons, Sheri. “Financial Presentations That Won’t Put Your Audience to Sleep.” Sales Gravy. n.d. www.salesgravy.com/sales-articles/presentation-skills/financial-presentations-that-wont-put-your-audience-to-sleep.html

Mogilner, Geoffrey. “Perfecting the Art of Financial Storytelling.” Edelman. February 2, 2015. www.edelman.com/post/perfecting-art-financial-storytelling

Piontek, Katelyn. “7 Ways to Make a Financial Presentation Interesting.” Turbine HQ. September 9, 2014. turbinehq.com/2014/make-a-financial-presentation-interesting

Riggins, Nash. “15 Ways to Create Effective PowerPoint Presentations.” Small Business Trends. July 5, 2016. smallbiztrends.com/2016/07/effective-powerpoint-presentations.html

Sullivan, Sarah. “Financial Presentations That Really Stand Out.” Talisman. October 10, 2016. www.talismansolutions.co.uk/blog/stand-out-financial-presentations

Theriault, Michel. “9 Tips for More Powerful Business Presentations.” Forbes. November 4, 2013. www.forbes.com/sites/allbusiness/2013/11/04/9-tips-for-more-powerful-business-presentations/#55621b7043a0

“Creating Effective Financial PowerPoint Presentations.” 24Point0. January 16, 2014. www.24point0.com/financial-statement-presentation

“Don’t Start by Copying Previous Slides.” Think Outside the Slide. June 24, 2014. www.thinkoutsidetheslide.com/issue-314-june-24-2014

“Edelman Trust Barometer.” Edelman. 2009. www.edelman.com/assets/uploads/2014/01/2009-Trust-Barometer-Executive-Summary.pdf

“Five Tips to Make PowerPoint Business Presentations More Effective.” Think Outside the Slide. n.d. www.thinkoutsidetheslide.com/five-tips-to-make-powerpoint-business-presentations-more-effective

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Increase Your Chances of Making Sales in 5 Easy Steps

Motivating your prospects isn’t enough to convince them to make purchase decisions. It would be difficult to motivate people without knowing their preferences. Learning what motivates them in buying a product or availing a service should be your main priority. This is to give you higher chances of influencing them to take action.

Convincing them to purchase your product allows you to highlight the benefits of what you’re offering. Knowing their needs, on the other hand, gives you an idea on what kind of things they’re interested in and how to satisfy them.

Before you even get to know your prospects, they already have their own set of preferences and expectations that drive them to act. Be careful not to sound too aggressive or desperate in presenting your offerings without first knowing what affects their decisions. This is where asking questions takes place.

Give your prospects enough time to share important things about themselves. This will help you discover something valuable that you can use in addressing their concerns. Otherwise, you’ll unintentionally lose their attention and interest.

In his book, The Secret of Selling Anything, author and speaker Harry Browne tackles how selling is easy. He mentions that the secret to salesmanship revolves around this guideline: Find this prospect’s motivation and appeal to it.

Browne emphasizes the importance of recognizing each prospect’s motivation to increase your chances of making sales. Follow these five easy steps inspired by Browne’s ideas as your guide:

Step 1. Identify their motivation.

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According to Browne, asking questions that stimulate your prospect’s interest are effective in convincing them to open up and disclose whatever it is that matters to them a lot. Though selling is your main goal, understand that you need to prioritize client concerns and distinguish their inner motives before your own satisfaction. This is where you ensure that the prospect you are talking to is qualified for your offer.

Knowing their motivations also allows you to recognize their present needs. Harold Maslow’s motivational theory explains how each stage of human need (physiological, safety, love and belonging, esteem, and self-actualization) helps presenters determine their existing concerns before selling. This is why asking them persuasive questions prompts them to talk about their personal experiences. This, in turn, gives you an idea on how to relate those motivations to your presentation.

This also involves identifying possible factors that influence their buying decisions. How you appear credible, beneficial, and unique plays an important role in your business success. Once they find you trustworthy, they’ll warm up to you and express their interest in your offer.

Don’t pursue your personal agenda without letting them do the talking first. Take time to listen to prospects so you can easily craft questions that offer solutions to their problems.

Step 2. Reiterate the main points.

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Once you’re done discovering what triggers their motivations, gather the information and organize them accordingly. Whether you’re conversing with a prospect who unexpectedly asks for your advice, or you’re pitching to a business person, condensing their thoughts in one sentence or two will help you determine their main interest.

In this phase, Browne has mentioned the importance of deeply understanding what your prospects are up to. Reiterating their ideas lets you see if they’ll agree or not. This also lets them know you were listening while they were talking. If you notice some disagreement on their end, clarify things by going back to step one – identify what motivations through substantive questions.

This will serve as your guide in meeting their expectations for a particular product or service. Don’t hesitate to provide follow-up questions that will enable you to comprehend the intended message. It would be better to complete the first two steps before going over the third one.

Step 3. Introduce your offer.

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Before you even start communicating with your prospects, they already have a question in mind: “What’s in it for me?” Addressing this will make your pitch more appealing and give you their undivided attention. More importantly, you’ll be able to successfully answer this question once you identify what their current needs are and understand their problems.

At this point in time, you’re ready to discuss what you want to sell to the customer. Do this by explaining your brand’s features and benefits in a way that appeals to their present motives. In this way, you can filter your points into something that’s beneficial to your prospects, satisfying their needs.

Since maintaining audience attention is one of your goals, include only what’s relevant to your listeners. Imagine pitching to your prospects without being aware of what they’re currently looking for. You’ll end up wasting both your time and energy, even losing people’s interest. This is why it’s vital that you know their exact expectations to effectively get your message across.

Step 4. Answer their questions.

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After you’re done explaining how your brand will benefit the prospects, anticipate responses on their part. Although some presenters look at inquiries negatively, they can become your ladder to success. Think about it: if they’re not interested or they don’t care about your offer, your audience can just easily ignore your pitch in the first place.

Objections are different from rejections. The former is common in any transaction between a prospect and a sales professional. This is where the probing strategy is most effective. When they raise a question or an objection, it could be because they didn’t fully understand your point. In this case, consider explaining your ideas in detail and focus on your main points. Doing so enables you to reiterate your message and clarify each point being discussed.

Browne states that using the listen-agree-suggest method can help you turn these objections into a “yes”. By lending your ears and listening to what they have to say, it’ll appear that you value and respect their sentiments. After hearing their side, provide your agreement and propose a better recommendation that will help them obtain what they want.

Step 5. Seal the deal.

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The fifth and final step of the selling process is closing the deal. Once you discover their motivation, clarify each idea, present your offerings, and respond to their concerns, you can proceed to a more persuasive approach in the sales process. For some, this might be one of the most difficult parts, but it can be also the most exciting. This is where you’ll summarize the entire conversation and convince the prospects to make purchasing decisions.

Aside from ending your pitch with a well-designed presentation deck and a powerful call-to-action, you can create a sense of urgency that’ll entice them to take immediate action. Discounts or promos may help in persuading people.

As much as possible, convince them to decide now rather than tomorrow. Activate their impulse factors and keep the momentum. Make the most out of your time and see how it’ll all be worth it.

One Step at a Time

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It’s no secret that not everyone will be pleased with your offerings. However, it shouldn’t be an excuse to quit trying.

Before making a sale, identify your prospect’s needs to avoid wasting both your time and effort. Remember, your job is to help your prospect meet their objectives and reach their goals through your offer.

Although sales focuses on getting higher numbers, rushing won’t help. You need to follow each step carefully to attain your goal. Try this technique and see how it can improve your pitch from this day onwards.

To craft a more direct presentation, contact our team of professional designers today and ask for a free quote!

Reference

Browne, Harry. The Secret of Selling Anything. 2008. Accessed June 21, 2016.