I started this week still slightly hungover from our housewarming on Friday - great start!
It didn’t get much better from there. I fell into the startup trap of strategising and predicting what customers want without talking to a single one. The result? I went a little crazy. Thankfully the cure was simple. I just listed 50 potential customers and got out of the building!
High point this week was receiving pitching tips from Bill Liao, Co-founder Xing. We pitched over Skype, which meant we were greeted with a 3x3 meter projection of Bill’s head and shoulders - pretty intimidating! Some great advice though. The most important being:
“Don’t start your pitch with a boring word.” - Bill Liao
This includes: ‘we, us, I and your company name!’. He advises people to structure their pitch as follows: 1) Crisis - what’s the problem 2) Struggle - explain how you got to the solution whilst convincing your audience you understand their pain and are credible 3) Resolution - how are you going to fix it? Pretty simple stuff. Good luck nailing it, I’m on version 20+!
If Banksy was born in Berlin instead of Bristol, he’d have ended up an accountant. No one would have noticed him. There’s so much graffiti here that there aren’t any clean canvasses left!
Quotes and what the author was getting at
“No one wants to buy reality”- when you’re pitching to investors you must sell the dream/vision.
“Build a business with substance” - don’t be a flash in the pan startup and instead build something sustainable and of value.