The perfect pitch:
A guide to effectively sell your ideas
Borys Chabursky
Strategic Health Innovations
Agenda
 Objective: Developing the perfect plan
 The business plan: what usually happens
 Components of a business plan
 Case study: The process to develop the perfect plan
1) What is your story?
- Exercise 1
2) Who should you target?
- Exercise 2
3) How do you make your pitch?
- Exercise 3
 Conclusion
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Objective: Developing the perfect plan
This session will be useful if you are
seeking to sell an idea
Examples can include:
A way to convince hospital management to approve
purchase of vital and expensive equipment
You are seeking buy-in for an initiative for your
department
You would like to commercialize an innovative idea
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Agenda
 Objective: Developing the perfect plan
 The business plan: what usually happens
 Components of a business plan
 Case study: The process to develop the perfect plan
1) What is your story?
- Exercise 1
2) Who should you target?
- Exercise 2
3) How do you make your pitch?
- Exercise 3
 Conclusion
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It all starts-out like a great story…
“…disruptive idea developed by innovative researcher
interested in meeting…”
“…experienced globally oriented management team
that has done 20+ successful IPOs, made a zillion
dollars, and is willing to work for options…”
“…to raise a half a zillion dollars based on a $10
kagillion valuation…”
“…in order to launch a company that will one day allow
us to retire in luxury, only leaving our island when we fly
by private jet to pick up our Nobel prize.”
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So, how does the story really end?
“…idea is more disturbing than disruptive and
innovative scientist can’t stop developing new
research projects…”
“…zillionaires don’t work for options – that’s why they
become zillionaires - so instead we have the younger
brother who’s never run a company but was great at
caring for his gerbil …”
“…relying on pennies from heaven – that would include
government grants and occasional busking…”
“…the island has become a metaphor for the
isolationist feelings that all genius’ must suffer when
they are misunderstood…”
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Agenda
 Objective: Developing the perfect plan
 The business plan: what usually happens
 Components of a business plan
 Case study: The process to develop the perfect plan
1) What is your story?
- Exercise 1
2) Who should you target?
- Exercise 2
3) How do you make your pitch?
- Exercise 3
 Conclusion
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Business Plan
Executive summary
 The marketing piece
 For an investor,
determines whether
the remainder of the
plan will be read
 Should be kept to 2
to 3 pages
 Should be
completed last
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Business Plan
Executive summary
Executive summary
Overview
 A brief summary
of the product,
technology or service
 Introduction and
description of each
component of the
business plan
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Business Plan
Executive summary
Overview
Products, technology
or service
 What are the
features or functions
of the product/
service?
 Who are the target
customers?
 What is the value
proposition?
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Business Plan
Executive summary
Overview
Products, technology
or service
Market analysis
 What is the potential
market size for the
product/service?
 What stage of growth
is the market in?
(early, mature or
decline?)
 What are the market
needs?
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Business Plan
Executive summary
Overview
Products, technology
or service
Market analysis
Competitive analysis
Implementation
schedule
12
 Who are the likely
competitors?
 What are the strengths
and weaknesses of
potential competitors?
 To whom could you
compare yourself?
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Business Plan
Executive summary
Overview
Products, technology
or service
Market analysis
Competitive analysis
Management team
 Who are the
founder/founders
and what are their
qualifications,
experience and past
achievements?
 Investors would
rather fund a B level
technology with an A
level management
team than an A level
technology with a B
level management
team
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Business Plan
Executive summary
Overview
Products, technology
or service
Market analysis
Competitive analysis
Management team
 What are the
financial projections
for the next 5 years?
 What are the
financial
requirements over
the next 5 years?
 What is the exit
strategy?
Financial planning
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Business Plan
Executive summary
Overview
Products, technology
or service
Market analysis
Competitive analysis
 What is the detailed
short-term
implementation plan?
 What are the major
milestones?
 Who is responsible for
the major tasks?
Management team
Financial planning
Implementation
schedule
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Agenda
 Objective: Developing the perfect plan
 The business plan: what usually happens
 Components of a business plan
 Case study: The process to develop the perfect plan
1) What is your story?
- Exercise 1
2) Who should you target?
- Exercise 2
3) How do you make your pitch?
- Exercise 3
 Conclusion
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Case study
Background
Dr. Smith, a critical care physician at a large teaching
hospital, has noticed that some of the equipment in the ICU
needs to be upgraded in order to provide the patients with
the best level of service
Challenge
Dr. Smith has heard that hospital management is resistant to
spending and is not sure what approach to take to effectively
communicate the need for new equipment
Solution
A structured pitch to sell the need for new equipment that will
overcome management’s objections and reservations to fund
Dr. Smith’s proposal
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The process
1. What is your story?
 Understand what it is you are trying to sell
Summarize your idea into a structured pitch
Exercise 1
Develop a pitch
2. Who should you target?
 Who should you be making the pitch to?
 What are you hoping to gain out of the meeting?
Exercise 2
Target list
3. Making the pitch
 30 second elevator pitch
 Follow up telephone call
Exercise 3
Pitching exercise
 Slide presentation pitch
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Your story
Who to target
Making the pitch
 Why are you pursuing this idea?
What is your idea?
Executive
summary
• State how the equipment you
require directly meets the
ICU’s needs
 Who are the target patients?
 Has this idea been proven
elsewhere?
• Identify successful examples
 How much investment is
necessary?
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Your story
What is your idea?
Who to target
Executive
summary
and
overview
Making the pitch
 Why are you pursuing this idea?
• State how the equipment you
require directly meets the
ICU’s needs
 Who are the target patients?
Competitive
and market
analysis
 Has this idea been proven
elsewhere?
• Identify successful examples
Financial
planning
 How much investment is
necessary?
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Your story
What is your idea?
Why is it important?
Who to target
Making the pitch
 Value proposition: What value will
this project provide to patients and
hospital management?
 Overcome management’s
reluctance to invest by
highlighting the potential return on
investment (ROI)
 New equipment will:
 Save $ over the next 5
years by reducing
inefficiencies
 Reduce risks: eliminating
misdiagnosis by x %
 Add to the reputation of
the hospital which will attract
more funding
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Your story
Who to target
 Value proposition: What value will
this project provide to patients and
hospital management?
What is your idea?
Why is it important?
Making the pitch
Technology,
products or
services:
Use
qualitative
and
quantitative
criteria
 Overcome management’s
reluctance to invest by
highlighting the potential return on
investment (ROI)
 New equipment will:
 Save $ over the next 5
years by reducing
inefficiencies
 Reduce risks: eliminating
misdiagnosis by x %
 Add to the reputation of
the hospital which will attract
more funding
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Your story
What is your idea?
Why is it important?
Who will manage
the venture?
Who to target
Making the pitch
 List the qualifications, experience
and past achievements of the
originator, principal investor or
founder group
 How critical is the founder to the
success of the project?
 What roles will personnel be
assuming in implementing this
project? (e.g. a matrix of team
members with their position and
key activities/responsibilities)
 Does your experience and
background complement this
idea?
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Your story
Who to target
 List the qualifications, experience
and past achievements of the
originator, principal investor or
founder group
What is your idea?
Management
team
Why is it important?
Who will manage
the venture?
Making the pitch
 How critical is the founder to the
success of the project?
 What roles will personnel be
assuming in implementing this
project? (e.g. a matrix of team
members with their position and
key activities/responsibilities)
 Does your experience and
background complement this
idea?
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Your story
What is your idea?
Why is it important?
Who will manage
the venture?
How will you
implement the idea?
Who to target
Making the pitch
 A timeline of how you plan to
implement your idea
 Communicate the development
of the value proposition by
identifying milestones to
highlight key dates in the
development of the idea. This
will allow hospital management
to track the project’s progress
towards providing the potential
ROI
 Identify potential threats and
barriers to the implementation
and how you plan to overcome
them
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Your story
Who to target
 A timeline of how you plan to
implement your idea
What is your idea?
Why is it important?
Who will manage
the venture?
How will you
implement the idea?
Making the pitch
Implementation
schedule
 Communicate the development
of the value proposition by
identifying milestones to
highlight key dates in the
development of the idea. This
will allow hospital management
to track the project’s progress
towards providing the potential
ROI
 Identify potential threats and
barriers to the implementation
and how you plan to overcome
them
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Your story
Who to target
Making the pitch
Exercise
Using the four components of an effective pitch, develop a
story for Dr. Smith
Goal of exercise
To gain a practical understanding of the process to
develop an idea into a marketable sales pitch
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Your story
Who to target
Making the pitch
WORKSHEET 1: What is your story?
1)What is your idea?
2)Why is it important?
3)Who will be managing
the venture?
3)How will you
implement your idea?
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Your story
Who to target
Making the pitch
Know your audience
• Who are you talking to?
Who?
• Titles, organizational structure, hierarchy & key
responsibilities
• Why are you talking to this person?
Why?
• Why are you relevant to them?
What?
• What are you hoping to get out of the
meeting/pitch?
• Why are they relevant to you?
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Your story
Who to target
Making the pitch
Exercise
Identify the decision makers that you will need to contact
in order to sell your idea. List potential objections they
may have to your proposition and how you would
overcome them
Goal of exercise
To develop a methodology to target and profile decision
makers in order to customize your pitch to overcome
any objections
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Your story
Who to target
Making the pitch
WORKSHEET 2: Who do you target?
1)Who are the decision makers?
2)What objections might they
have?
3)How can you overcome
their objections?
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Your story
Who to target
Making the pitch
Initial contact:
the 30 second
elevator pitch
• Craft a take-away message
• State the essence of the
problem with relevant
supporting information
• Do not get caught up with
details
• Keep it Simple:
“This device will reduce the
ICU’s operational costs by…”
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Your story
Who to target
Initial contact:
the 30 second
elevator pitch
Making the pitch
Follow up:
Telephone
pitch
•Introduction: “We last
spoke…”
•Statement of relationship
•10 minute pitch: Elaborate
on the four components of
your story
•Follow up with a thankyou note
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Your story
Initial contact:
the 30 second
elevator pitch
Who to target
Follow up:
Telephone
pitch
Making the pitch
In person:
Detailed slide
presentation
•The slide presentation should
highlight:
• Excellence
• Innovation
• Impact (ROI)
•Provide necessary detail which
outlines the four key components
•Encourage and allow time for
questions
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Your story
Who to target
Making the pitch
Exercise
1. Based on the components of an effective pitch
developed in Exercise 1, condense your story into a 30
second pitch
2. Pair up with a colleague and present the pitch
3. Evaluate each other’s pitch
Goal of exercise
To develop a take-away message for your business plan
while retaining the fundamental components of your story
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Your story
Who to target
Making the pitch
WORKSHEET 3: Deliver your pitch
1)Outline the main points of
your pitch and present
2)Evaluate the pitch:
• Was it within 30
seconds?
• Does the pitch state
how it serves a real
need? State how it does
or does not
• Were you convinced of
the value of the
proposition? State why
it does or why not
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Agenda
 Objective: Developing the perfect plan
 The business plan: what usually happens
 Components of a business plan
 Case study: The process to develop the perfect plan
1) What is your story?
- Exercise 1
2) Who should you target?
- Exercise 2
3) How do you make your pitch?
- Exercise 3
 Conclusion
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Conclusion
Clearly identify your proposition in the development of
a pitch for your innovative idea
Determine who you will target and what it is you are
hoping to gain from meeting them
The delivery of your pitch must be concise but thorough
– an effective pitch will truly convince potential investors
of the value of your proposition
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Thank you
Strategic Health Innovations
133 Madison Avenue Suite 100
Toronto, Ontario, M5R 2S3
Tel: (416) 236-1054 Fax: (416) 236-2801
E-mail: [email protected]
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