How to Pitch a Great Idea by Debbie Ouellet (SEA alumnus)

You’ve got a great new idea. All you need is the right partner, distributor or investor. A common question I’m asked is, “How do you go about pitching it?”
 Get out and meet influential people. It's often one of the toughest things for entrepreneurs to warm up to, but over time, reaps the most rewards. You’d be surprised at some of the connections you'll make…connections that can lead to a face-to-face with a decision-maker.
People invest in you as much as they do your idea. Find yourself a champion or two who can introduce you to potential distributors or investors through networking or one-to-one meetings. Let them see your enthusiasm and commitment.
Having said that; you'll need to have a polished "elevator" pitch where you can explain the key benefits of your idea in about 60 seconds.
 As for your written documents, I usually suggest:
 A quick leave behind or "warm up" summary of your idea. It's usually one page. (Think of this like a sell-sheet, similar to an Executive Summary in a business plan...written so that it highlights the benefits to the partner, distributor or investor.) Include a second page that talks about you and your credentials. You’ll use these as the preamble to getting that all important face-to-face meeting.
Your full blown business proposal/plan. Present this to your serious prospects (usually at or after the first face-to-face). Remember that the point of it is to show them:

1. the feasibility of your idea
2. how they can make money with it
3. why you’re the perfect one to help them do it
4. how you plan to make it happen
5. demonstrated profitability and growth

 How about you? Do you have a great idea you’d like to pitch?

Thoughts on Successful People by Chris Widener

“I was hired to do some training for a sales team from one of the largest companies in America. There were 16 people on this team. This year their sales (for the 16 of them) will be $250 million—that's right, a quarter of a billion dollars! Needless to say, it was an excellent and fascinating time. I decided to learn a little bit myself so I watched them closely to see what kind of people they were and to see what common denominators they shared. Below is what I found. I think you will find the elements applicable to your own life.

The first thing I noticed about this successful sales team was that they had a sense of humor! They simply weren't a terribly serious bunch of people. Instead, they saw that life was to be enjoyed and that means they were able to laugh a little bit. Sure, there were varying levels in this but they all had a sense of humor. They were able to laugh at circumstances, and they were able to laugh at themselves. It was quite refreshing and a core element of their success, I'm sure.

The second thing I found out about this group was that they did not achieve their success through pedigree, but through hard work. They didn't come from families that gave them a free pass into the upper echelon of the corporate world and they didn't get a head start from upper-crust universities. What got them to where they are now? Hard work! That's right, another example that if you put your mind to it, work hard and get in the right situation, you can achieve great things! These folks work long hours and are disciplined in the work they do. And it is paying off.

The third thing I noticed about this team is that they are learners. They were always engaged in the learning process. During my sessions they were engaged and listening. You could see their minds processing the information. They were asking questions and applying the material to their work and their lives. They wanted to improve in any way that they could. It was also interesting to watch them in their team meetings led by their sales manager. They were very interactive and were learning from one another. None of them was above learning from a peer.

What did I see in these successful people? The same things that can make you a success as you apply the principles to your own life: A sense of humor, hard work, and a desire to learn at every turn.”

Plan Your Sales Calls

Many salespeople go into most of their sales calls with very little, if any, prior planning. Zig Ziglar and others have been quoted as saying "If you aim at nothing, you will hit it every time." This principle applies to individual sales visits. Preparation results in better use of your time, and increases your opportunity for success. Isn’t that what you want?

So, what's involved in planning a sales call? Before meeting with a potential client, determine your objective, and develop strategies. Do research – Statistics Canada, business directories, chamber of commerce, existing customers, competitors, trade shows, etc. If you are business to business targeting a large company, read their Annual Report, check out their website. Is the company (or homeowner) growing, making money? Are they ready for change, or cutting back? Would I invest in this company? Are revenues and profits increasing or decreasing? What recent news impacts their company / lives? What are the top two trends or issues faced by companies in their industry? (Or people like them). Who are their competitors?

Determine what questions you need to ask. What are three ways your product or service helps the customer? Design your approach specifically for the market segment, and specific customer you are contacting. Determine your priorities for the call. You want to avoid appearing overly ‘structured’ in front of your prospect; but it is good to have, at least in your own mind, somewhat of an agenda. Make sure you have all of your ‘sales tools’ in order, and in good shape. Think about potential “next steps” the customer can take as a result of your discussion.

Decide what should happen for you to consider the sales call a success. For example, it could be making the sale, actually signing the contract, or booking the work. Or it might be arranging for a follow up meeting, where you will present the results of further research on their particular situation.

Does this sound like a lot of work? You’re right! Will it be worth it? Absolutely! It is the kind of practice that the most successful professional salespeople employ. Consistent, disciplined behavior - that's what separates the best from the rest.

Do you need some help with knowing how to develop your response to this, or do you have any other sales challenges? Please contact me; I can help!

Be Yourself

Don’t try to be a ‘salesperson’. Be sincere, BE YOURSELF! When conducting various workshops, I’ve noticed that your reaction is typical of the general public when I ask what you think of ‘salespeople’. Although true professional sales representatives are generally highly valued by their appreciative clients, the common perception of the greedy, self-absorbed salesperson is often justified. So, by simply ‘being yourself’, you will come across as refreshingly different.

You’ve learned the four step process that we help you with as part of how your sales visits should be structured. My experience, research, and observation of small business owners strongly indicate that this method works very effectively. At the same time, it is just as important to do this in a conversational way. Even in a formal business to business setting, it is usually best to cultivate an atmosphere of informal professionalism. One of the definitions of the word “extemporaneous’ is “Prepared in advance but delivered without notes.” If you do public speaking, it means doing so in a manner that is characterized by spontaneous word choice as well as careful preparation of ideas.

A significant advantage of a conversational style is that you will be using the down-to-earth manner to which people most readily respond. This allows you to have maximum visual contact with your prospects, which improves your communication with them. Since you do not rely on notes for the wording of every sentence, your prospects will be more inclined to feel that you have their interests at heart. It also allows for flexibility.

In preparation for your meeting, mentally review each main point separately. During the conversation, however, instead of being overly concerned about exact wording, emphasize ideas and principles, especially as to how they relate to solving the potential client’s unique situation. Use your prepared points as a guide to conversation, rather than as a pushy sales pitch. You know your product or service; you know how it can benefit your potential customers, so concentrate on how you can help companies or individuals save time, money, or hassle; how you can ‘delight’ them with whatever you do!

Undoubtedly, when you are conversational during a sales call, you can be more effective. When you do so, then impromptu opportunities to talk about your business will also be easier.

In summary, when you are ‘yourself’, you will be more likely to hold the attention of prospects and touch their ‘hot buttons’, which will produce more profitable revenue.