{"id":32464,"date":"2019-03-05T14:05:57","date_gmt":"2019-03-05T19:05:57","guid":{"rendered":"https:\/\/www.wework.com\/creator\/creator\/?p=32464"},"modified":"2020-02-26T14:27:22","modified_gmt":"2020-02-26T19:27:22","slug":"perfecting-the-art-of-the-pitch-and-winning-over-investors","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/management-leadership\/perfecting-the-art-of-the-pitch-and-winning-over-investors","title":{"rendered":"Perfecting the art of the pitch\u2014and winning over investors"},"content":{"rendered":"\n

Making a fantastic product is one thing, but it\u2019s all for naught if you can\u2019t sell it. It\u2019s a lesson still fresh in Great Jones<\/a> co-founder Maddy Moelis\u2019 mind\u2014having launched her cookware line at the end of 2018, she learned first-hand the importance of the perfect pitch. <\/span><\/p>\n\n\n\n

\u201cIt\u2019s important to share information that no one else has,\u201d says Moelis, \u201cso that you\u2019re differentiating yourself from both the masses but also from stories that have already been told about you.\u201d <\/span><\/p>\n\n\n\n

Recently, Moelis was one of four experts tapped to judge the first Pitch Night at The We Company\u2019s <\/span>WeWork Now<\/a> space. At the event, eight members gave their best 90-second pitches to the judges, who asked a round of questions before deliberating and choosing three winners, whose products will be showcased in all Made By We retail outlets nationwide. <\/span><\/p>\n\n\n\n

By the night\u2019s end, leather-accessories brand Haerfest<\/a>, men\u2019s clothing company Basic Outfitters<\/a>, and sparkling-tea company Minna<\/a> won the coveted retail placement. Here\u2019s their best advice\u2014along with some insights from the judges\u2014on what makes a successful pitch. <\/span><\/p>\n\n\n\n

Differentiate yourself, but keep it tight. <\/b>\u201cPeople go overboard with backstory sometimes,\u201d says judge Alexis Swerdloff, editor of <\/span>New York<\/em><\/span><\/i> magazine\u2019s The Strategist<\/a>. \u201cI do care about the backstory, but sometimes that overshadows the thing. Get to the point. Storytelling is great, but if you’re talking about products, at the end of the day you just want to know\u2014why is this thing different? Why do I care?\u201d <\/span><\/p>\n\n\n\n

Know where you\u2019re headed. <\/b>Investors want to know you\u2019ve got a plan for where you\u2019re going, says Moelis. \u201cWith Great Jones, having both a very-near-term execution time and a long-term vision for where the company can go is a really valuable asset for us.\u201d<\/span><\/p>\n\n\n\n

\"\"
The scene inside WeWork Now.<\/figcaption><\/figure><\/div>\n\n\n\n

Don\u2019t be afraid to name-drop. <\/b>Haerfest co-founder Daniel Joo noticed that the judges perked up when he mentioned the press coverage his company has received and the brands with which he\u2019s collaborated. \u201cSome people may not know who Haerfest is or who you are,\u201d he says. \u201cBut if they know that <\/span>GQ<\/em><\/span><\/i> and <\/span>Vogue<\/em><\/span><\/i> covered you, you build a level of co-trust through the people you trust.\u201d<\/span><\/p>\n\n\n\n

Another judge, Serena Dai, Eater<\/a><\/em>‘s New York City editor, confirmed this point. \u201cWhen people are pitching, they\u2019re like, \u2018This chef is really great because he cooked for XYZ years,\u2019 but then they won’t tell me <\/span>where<\/span><\/i> they worked, or they won’t tell me specifics, bona fides,\u201d she explains. \u201cSay, \u2018This guy worked at Daniel and Per Se.\u2019 I need to see something about this person\u2019s r\u00e9sum\u00e9.\u201d<\/span><\/p>\n\n\n\n

Make it a short story.\u00a0<\/b>Even if you\u2019ve got longer than 90 seconds to work with, brevity is key. Michael and Laura Dweck, the married team behind Basic Outfitters, competed on <\/span>Shark Tank<\/em><\/span><\/i> before pitching to WeWork Now, so they\u2019ve had a chance to hone their message.<\/span><\/p>\n\n\n\n

Besides keeping it short and sweet, Laura says, \u201cHumor, confidence, and storytelling were at the forefront of the success behind our <\/span>Shark Tank<\/em><\/span><\/i> pitch. We painted a picture of everyday scenarios that happen to all of us to show how relevant and necessary our product is.\u201d<\/span><\/p>\n\n\n\n

Practice\u2014again and again. <\/b>\u201cI made some bullet pointed notes about the brand and recorded myself over and over, reworking the wording to get the speech to the time allowed,\u201d says Minna founder Ryan Fortwendel. \u201cHowever, in the hot seat, nerves got the best of me\u2014and a lot went out the window. That\u2019s when practice and remembering those key bullet points helped bring me back on track.\u201d<\/span><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The best advice on landing the perfect product pitch<\/p>\n","protected":false},"author":1772,"featured_media":59285,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-single-archived.blade.php","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43909,43902],"tags":[39218,39221],"class_list":["post-32464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-leadership","category-professional-development","tag-small-businesses","tag-entrepreneurs"],"acf":[],"yoast_head":"\nPerfecting the art of the pitch\u2014and winning over investors<\/title>\n<meta name=\"description\" content=\"The best advice on landing the perfect product pitch.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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