Nike has always been at the forefront of cutting edge philosophies in the world of design, execution and marketing. One of the most innovative in recent memory was the establishing of Nike Digital Sport in 2010, whose aim was to develop devices and technologies that allowed users to track their personal statistics in any sport in which they participated. For those interested in Nike’s marketing philosophies, head over to Fortune to read the fascinating article in its entirety.
The idea behind the New Normal is quite simple: ‘We’re halfway there’. The New Normal is about all things we call ‘digital’, and in the digital revolution we’re probably only halfway there. That means we have as much journey ahead of us as we have behind us.
In The New Normal Peter presents how companies may address a society without digital limits. Quite poignantly, Peter points out that organizations are increasingly faced with customers and consumers who no longer tolerate limitations in terms of pricing, timing, patience, depth, privacy, convenience, intelligence. A number of new rules will apply in the New Normal. Consumers will have zero tolerance for digital failure. They will expect to get internet access anytime, anyplace. Internet and connectivity will be just as ubiquitous as electricity. Consumers will demand fulfillment of their information needs instantaneously. The effect on companies will be tremendous. They were just getting used to coping with an 24 hour economy, and now they will have to cope with the ‘experience economy’: customers will demand interaction with providers of services and products on their conditions. They will expect the digital user experience to be easy and interesting. Every interaction with a customer must be viewed as a ‘make or break’ moment for the relationship with the customer. IT departments too will have to adopt a new way of working. They will have to react more flexible to the demands of the business side of the company. IT-departments were used to build big systems, now they will have to create small, flexible structures that can be adapted quickly. They no longer have to build pyramids, they must put up tents instead. In The New Normal, Peter Hinssen looks at the way companies have to adapt their information strategy, their technology strategy, their innovation strategy and the way they are organized internally. This book is an interesting read for any manager who is concerned with the future of his company as it is hit by the digital revolution. (via Peter Hinssen.com)
How is your company pitch?
If you are able to sell your company idea in 5 minutes you have much better chances in today’s competitive funding climate. You need to make your point fast, elegantly and succinctly.
To check how good you pitched your idea just answer these simple questions: Was my audience inspired? Are they able to acurately re-tell my story?
1) Be clear and candid about how your company will achive success in the face of competition. Be honest with yourself. You can have a compelling presentation even if your company isn’t a “one and only” unique idea. By proactively addressing foreseeable roadblocks your company may face you gain trust and build credibility.
Critical questions to answer during your presentation include:
a) What is the company vision?
b) Do you have a five-year plan in place? If not, a concrete vision for the immediate future and why it’s crucial for the current market will do it.
c) What is the problem being addressed? What’s wrong with the status quo and without your product, how are people operating today? Use real world examples and sound bites that make your product memorable
d) Where does your company fit in the market? Regardless of whether you offer a physical product, a software feature,
application, or platform, you should candidly define that market reality, and present sales and marketing plans to back up
your model. Why will you win versus the competition? If you win, who loses or what changes?
2) Present the facts. Crucial to include: overall market size for your product today, list of competitors, your basic business model, how much funding you have raised (if any), names key team members and micro-bios
3) Be passionate. Tell your story with emotion and energy.
The Basic Pitch Outline
Following is a sample outline many successful startup presentations follow. To make it work and worth 5 Minutes use short video clips, images, graphics, and minimal text. You should mostly speak to each of the points below, using graphics to reinforce your spoken words.
Headline (your vision)
Company Purpose (short and sweet)
Problem (customer pain)
Solution (value prop to customer – great to add real customer stories)
Why Now (history and evolution)
Market Size (who are your target customers)
Competition (honest list)
Product (description and road map)
Business Model (revenue, pricing etc.)
Customer Acquisition plan (marketing and sales)
Team (founders & management)
4) Just five minutes to stand out from the other presenting companies!
5) Best company pitchmen aren’t salespeople. They are great storytellers!
- Preparing for a 60 second pitch on This Week In Startups (customercradle.com)
- 5 Lessons from 150 startup pitches (asmartbear.com)