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Coaching Entrepreneurial Airmen How to Pitch
Their Innovative Ideas
SuccessfullyHeidi Schultz, Ph.D.
Clinical Professor, Management
and Corporate CommunicationKenan-Flagler Business School
UNC-Chapel Hill
Heidi_Schultz@unc.edu
© Heidi SchultzSource: Many of the icons come from the noun project (nounproject.com)
Slide Deck for Asynchronous Class Session
2
Innovative Ideas ImplementationChasm
Effective Communication
Cultivate Confidence and Polish Professional Presence
Structure a Successful Pitch
Our Route
Application with Deliverables
Your Tasks
4
Your Turn/Your NotesCollective Brain Share
Collective Brain Share 1
Based on your insights for pitching innovative ideas effectively • What is a best practice? • What derails a pitch?
Drop your responses into the Jamboard. We’ll debrief your insights in class.
5
Prime the Pump
• Know your audience• Know your purpose and your solution
6
Know Your Audience
7Other People’s Money, Warner Brothers, 1991
Know Your Audience
8Shark Tank, ABC
9
Know Your Audience: How does this Shark Tank pitcher show she’s thought about her audience?
Shark Tank, ABC
Collective Brain Share 2
Who is the audience for Spark Tank ideas? Drop your response into Jamboard. We’ll debrief your insights in class.
10
https://usaf.ideascalegov.com/
Know Your Purpose
• Working purpose template:• As a result of this pitch, I want my audience to ____________.
• The general purpose for ALL pitches:• As a result of this pitch, I want my audience to
• Understand the problem I’ve identified• Understand my solution for fixing/addressing the problem• Get a green light and resources to implement
11
Know Your Purpose
12Shark Tank, ABC
What’s the Purpose of Spark Tank?
Spark Tank looks “at the need for specific capabilities as well as concerns of safety, policy, Air Force-wide implementation, technical feasibility and scalability.”
13https://www.af.mil/News/Article-Display/Article/2053169/air-force-announces-spark-tank-2020-selectees/
“Spark Tank also offers Airmen the opportunity to get their ideas in front of key enabling agencies that can share expertise and resources such as funding or personnel for the projects being presented and demonstrate pathways for intrepreneurs to make their initiatives successful.”
•Who might the audience be and what might the purpose be for a pitch that embodies this ‘tasty but messy’ scenario? Drop your responses into the Jamboard.
• Problem: My fingers get messy dipping Oreo cookies in milk• Solution: A cookie fork stuck in between the cookies.
Collective Brain Share 3
Your Turn and Your Notes 1
Capture some notes about what you will tell entrepreneurial airmen about “audience” and “purpose/solution” related to priming the pump for putting together a successful pitch. That is, why do these entrepreneurial airmen need to be clear on “Audience” and “Purpose/Solution” at the start of this process?
Pitch Elements
q Problem: What is the problem? include any background information to get the audience up-to-speed
q Solution: What is the solution?
q Market: Who is this solution for? Who benefits? What are the benefits?
q Competition: Who is the competition?
q People: Who is on the team?
q Financials: What are the financials (what’s it going to cost? What money is already in?
q Milestones: what goals have you achieved? What are your planned goals and when?
q Next steps: what is your call to action? What do you want from your audience?
Explain the Problem
17
We experience a 2% failure rate for air drops
2019 Spark Tank Finalist
Explain the Solution
18
The Alton Block
2019 Spark Tank Finalist
Explain the Problem
19Screen shot from Adaptive Basing Spark Tank 2019 Finalist Video Submission
Explain the Solution
20Screen shot from Adaptive Basing Spark Tank 2019 Finalist Video Submission
Explain the Solution
21
https://www.youtube.com/watch?v=WUVtA9lGl_s
22https://www.dvidshub.net/video/644351/spark-tank-video
Cadet Bamieh: What’s the Problem? What’s the Solution? Are these elements positioned where you want to hear them? Are they clear to you? [2019 finalist]
23https://www.dvidshub.net/video/659456/spark-tank-winner
Master Sgt. Bridget A. Neighbor: What’s the Problem? What’s the Solution? Are these elements positioned where you want to hear them? Are the clear to you? [2019 finalist]
24
Tech Sgt. Brett M. Kiser: What’s the Problem? What’s the Solution? Are these elements positioned where you want to hear them? Are they clear to you? [2020 finalist]
https://www.dvidshub.net/video/711357/k-wedge-2020-spark-submission
Collective Brain Share 4
For Tech Sgt. Kiser’s pitch:
What’s the Problem? What’s the Solution? Are these elements positioned where you want to hear them? Are they clear to you?
Drop your responses into the Jamboard. We’ll debrief your insights in class.
Take about 5 minutes and write a pitch opening based on the insights we’ve uncovered so far that embodies the problem and solution for this scenario:
•Problem: My fingers get messy dipping Oreo cookies in milk•Solution: A cookie fork stuck in between the
cookies.•Audience: Potential investors
NOTE: Some of you will share your pitch opening when we meet face-to-face (virtually)
Your Turn and Your Notes 2
27
Based on our examples and your insights for constructing a successful pitch, capture some notes about how to construct an effective opening.
Your Turn and Your Notes 3
Pitch Elements
q Problem: What is the problem? include any background information to get the audience up-to-speed
q Solution: What is the solution?
q Market: Who is this solution for? Who benefits? What are the benefits?
q Competition: Who is the competition?
q People: Who is on the team?
q Financials: What are the financials (what’s it going to cost? What money is already in?
q Milestones: what goals have you achieved? What are your planned goals and when?
q Next steps: what is your call to action? What do you want from your audience?
Explain the Market
30
https://www.dvidshub.net/video/645420/adaptive-basing2019 Finalist
Explain the Market
31https://www.dvidshub.net/video/711790/msgt-valenzuela-spark-tank-2020-submission2020 Finalist
Address the Competition
32
Collective Brain Share 5
Who or what might be the competition for innovative ideas offered in a pitch? Drop your responses into the Jamboard. We’ll debrief your insights in class.
Competition
34
https://www.af.mil/News/Article-Display/Article/2053169/air-force-announces-spark-tank-2020-selectees/
Competition (Advantages)
35
https://www.af.mil/News/Article-Display/Article/2053169/air-force-announces-spark-tank-2020-selectees/
Based on our examples and your insights for addressing the market and the competition, capture some notes about what content goes into this part of a successful pitch for those elements.
Your Turn and Your Notes 4
Pitch Elements
q Problem: What is the problem? include any background information to get the audience up-to-speed
q Solution: What is the solution?
q Market: Who is this solution for? Who benefits? What are the benefits?
q Competition: Who is the competition?
q People: Who is on the team?
q Financials: What are the financials (what’s it going to cost? What money is already in?
q Milestones: what goals have you achieved? What are your planned goals and when?
q Next steps: what is your call to action? What do you want from your audience?
Include the Team
38Spark Tank 2020 Finalist
Explain the Money Part
39Spark Tank 2020 Finalisthttps://www.dvidshub.net/video/711790/msgt-valenzuela-spark-tank-2020-submission
Explain the Money Part
40Spark Tank 2020 Finalist
Based on our examples and discussion of ‘best practices’ for addressing the team and financials, capture some notes about what content goes into this part of a successful pitch for those elements.
Your Turn and Your Notes 5
Pitch Elements
q Problem: What is the problem? include any background information to get the audience up-to-speed
q Solution: What is the solution?
q Market: Who is this solution for? Who benefits? What are the benefits?
q Competition: Who is the competition?
q People: Who is on the team?
q Financials: What are the financials (what’s it going to cost? What money is already in?
q Milestones: what goals have you achieved? What are your planned goals and when?
q Next steps: what is your call to action? What do you want from your audience?
Milestones
43Spark Tank 2018 Finalist
Based on our examples and your insights for including the milestones in a pitch, capture some notes about what content goes into this section.
Your Turn and Your Notes 6
Pitch Elements
q Problem: What is the problem? include any background information to get the audience up-to-speed
q Solution: What is the solution?
q Market: Who is this solution for? Who benefits? What are the benefits?
q Competition: Who is the competition?
q People: Who is on the team?
q Financials: What are the financials (what’s it going to cost? What money is already in?
q Milestones: what goals have you achieved? What are your planned goals and when?
q Next steps: what is your call to action? What do you want from your audience?
Remember . . .
An effective conclusion propels your audience to action in a way that furthers your goals.
48Spark Tank 2020 Finalist
49
https://www.dvidshub.net/video/637118/msgt-maas-spark-tank-2019-submissionSpark Tank 2019 Winner
Based on our examples and discussion of ‘best practices’ for creating a compelling conclusion, capture some notes about what content goes into this part of a successful pitch.
Your Turn and Your Notes 7
Problem and Solution
https://www.ted.com/talks/ernesto_sirolli_want_to_help_someone_shut_up_and_listen?language=en
57Shark Tank, ABC
58Spark Tank 2019 Finalist
59Spark Tank Finalist 2020
Based on our examples and discussion of ‘best practices’ for opening a successful pitch, how will you coach entrepreneurial airmen whom you’ll be training on how to launch a pitch that people want to hear?
Your Turn and Your Notes 8
Collective Brain Share 6
Why and how might a story fit into a successful pitch? Drop your responses into the Jamboard. We’ll debrief your insights in class.
Let’s Talk some more about audiences ‘engagement’ and ‘re-engagement’ strategies
• Storytelling• Showing Concepts and Ideas• Drawing
64
Considerations and Best Practices
• ‘One’ represents something bigger• Micro to Macro
Micro to Macro
The Girl Effect
Considerations and Best Practices
• ‘One’ represents something bigger• Micro to Macro
• Story length and element length
Element Length Informs Story Length
• _________________• _________________• _________________• _________________
• _________________
30 to 90 seconds
Considerations and Best Practices
• ‘One’ represents something bigger• Micro to Macro
• Story length and element length• Framework
Story Framework
§Overarching point.
§Situation about a specific person, place, thing, or event.§Challenge to the situation. That is, what rocked the �status quo�?
§Results. That is, what happened?
§So what? So how does this story relate back to your overarching business point?
My third story is about death.
When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something. Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn't even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor's code for prepare to die. It means to try to tell your kids everything you thought you'd have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes. I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor.
I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery.
I had the surgery and I'm fine now.
This was the closest I've been to facing death, and I hope it's the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept: No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best inventionof Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true. Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
Steve JobsCommencement
AddressStanford University
12 June 2005
73
74
https://www.dvidshub.net/video/637118/msgt-maas-spark-tank-2019-submission
What best practices related to ‘storytelling’ will you convey to entrepreneurial airmen? Capture your thoughts.
Your Turn and Your Notes 9
Show … Don’t Just Tell
76
Show … Don’t Just Tell
77
https://www.youtube.com/watch?v=6Rwcbsn19c0
Show … Don’t Just Tell
78
https://www.dvidshub.net/video/633356/air-force-spark-tank-tsgt-howard-entry
Show … Don’t Just Tell
79
Show … Don’t Just Tell
80
https://www.dvidshub.net/video/659456/spark-tank-winner
Show … Don’t Just Tell
81
Keeping “show … don’t just tell” best practices in mind, what content will you use to teach entrepreneurial airmen how to show their innovative ideas as part of a pitch? Capture your notes.
82
Your Turn and Your Notes 10Your Turn and Your Notes 10
Communicating with whiteboards: 8 Best practices
83
• Best Practice #1a: Write legibly
Print the upper-case and lower-case letters of the alphabet on the Jamboard. Add additional Jamboards if one gets too full.
Collective Brain Share 7
• Best Practice #1b: Write legibly
Print this sentence on the Jamboard: • Silence is golden, but duct tape is silver.
Collective Brain Share 8
• Best Practice #2: Know how to draw basic shapes
• Draw on the Jamboard as many simple basic shapes as you can think of … shapes like ‘squares’ and ‘circles’ on the Jamboard
• Then, draw on the Jamboard the same shapes again with confidence and fluidity
• Add additional Jamboards if one gets too full
Collective Brain Share 9
• Best Practice #3: Know how to mash up basic shapes to create everyday things
• Using some basic shapes, create three everyday things on the Jamboard• Draw the objects again with confidence and fluidity• Add additional Jamboards if one gets too full
Collective Brain Share 10
• Best Practice #4: Know how to draw general concepts important to business such as• Time• Organization• Goals• Challenges or Obstacles• Options• Growth• Internet• Network• Bright Ideas• Visions
• Draw three of the concepts from the list on the Jamboard
• Draw these concepts again with confidence and fluidity
• Add additional Jamboards if one gets too full
Collective Brain Share 11
• Best Practice #5: Know the key ‘nouns’ in your industry and how to draw them. For example, you might list ”diversification” and “asset allocation” in finance; you might list “products” and “services” in marketing.• Come up with 3 ‘nouns’ from your industry. Go to the Internet and look at
how others have created SIMPLE drawings of those nouns. Draw one of the nouns on the Jamboard. And then draw that noun again with confidence and fluidity. Add additional Jamboards if one gets too full.
Collective Brain Share 12
Best Practice #6
• Storyboard the thing• Know the specific outcome you want• Use sticky notes to prepare the flow of content and visuals• Pick your images/practice them• Organize the whiteboard space into ‘photo-ready’ panes based on your
storyboard
Best Practice #7
• Mechanics
Best Practice #8
• Before you begin• Pre-write limited text or Pre-draw elements (For example, you might create a
simple timeline or divide the whiteboard space into grids)• If the whiteboard is interactive, tell participants the outcome you want• Do it
Keeping “Drawing” best practices in mind, what content will you use to teach entrepreneurial airmen How, when, and why to draw their innovative ideas as part of a pitch? Capture your notes.
94
Your Turn and Your Notes 11
Why Talk about Slide Design?
“PowerPoint presentations have become as essential as coffee and Post-It Notes. They help lay out thoughts in a coherent manner, but they breed a dependency the likes of which I've only seen in heroin users and Starbucks coffee drinkers.”
Mike Campbell USA Today
Agenda• Topic 1• Topic 2• Topic 3• And so on …
Glance-Worthy Slides
Two concepts
Slide Make-Over: Circle Key Words and Revise
Source: http://blogs.hbr.org/2012/10/do-your-slides-pass-the-glance-test/
Slide Make-Over: Extract Limited Content and Revise
http://blogs-images.forbes.com/carminegallo/files/2012/09/MEDICAL-SAMPLE-BEFORE1.jpg
Falling seniors
$7,168in average hospital costs
The Slide Tracker
104
Glance-WorthinessAgendas Data Viz
Glance-WorthinessAgendas Data Viz
General Slide Design Best Practices
105
Keeping ”slide design” best practices in mind, what content will you use to teach entrepreneurial airmen how to incorporate effective slides into a successful pitch? Capture your notes.
106
Your Turn and Your Notes 12
Cultivate Confidence and Polish Professional Presence
Structure a Successful Pitch
Our Route
Application with Deliverables
Take a few minutes to capture any additional ideas you have for teaching entrepreneurial airmen how to pitch their innovative ideas.
108
Your Turn and Your Notes 13
Wrap Up
Questions, Comments, and Observations
Heidi Schultz, Ph.D.Professor, Management and Corporate Communication
Kenan-Flagler Business SchoolUNC-Chapel Hill
Chapel Hill, NC 27517
Heidi_Schultz@unc.edu
MARKET DIRECTOR DEVELOPMENT
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Boyce , M.E. (1996). �Organizational story and storytelling: A critical review. � Journal of Organizational Change Management, 9(5). 5-26).Clark, Evelyn. Around the Corporate Campfire. How Great Leaders Use Stories to Inspire Success. Sevierville, TN: Insight Publishing. © 2004
Dell, Michael. Direct from Dell. Strategies that Revolutionized an Industry. New York: HarperCollins. ©1999.Denning, Stephen. The Leader�s Guide to Storytelling. Mastering the Art and Discipline of Business Narrative. San Francisco: John Wiley & Sons. © 2005.
Fryer, Bronwyn. �Happy Tales: The CEO as Storyteller. A Conversation with Screenwriting Coach Robert McKee.� Harvard Business Review. 7 July 2003.
Gallo, Carmine. �How Cisco�s CEO Works the Crowd.� BusinessWeek Online. October 11, 2006.Gorry, G. A., and R. A. Westbrook. �Can you hear me now? Learning from customer stories.� Business Horizons (2011) 54, 575-584.Guber, Peter. �The Four Truths of the Storyteller.� Harvard Business Review. December 2007. Reprint R0712C.
Grant, Adam. �How Customers can Rally Your Troops,� June 2011, Harvard Business Review, pp. 96-103Marshall, J, & Adamic, M. (2010). �The Story is the Message: Shaping Corporate Culture. The Journal
of Business Strategy, 31 (2), 18-23.McKee, Robert. Storytelling that Moves People. A Conversation with Screenwriting Coach Robert McKee.� Harvard Business Review. June 2003. Reprint R0306B.
Ohara, SC & Cherniss, M (2010). �Storytelling at Juniper Networks Connects a Global Organization to the Values and Behaviors of Success.�Global Business & Organizational Excellence, 29 (5), 31-39.
Ransdell, Eric. �The Nike Story? Just Tell it!� Fast Company. Issue 31: 4. December 1999.
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