Aiko Thurlow gave a workshop on pitching to provide entrepreneurs with the necessary skills and framework. The workshop covered why pitching is important, the key elements of an effective pitch, common mistakes to avoid, and the difference between a great pitch versus a successful one. The framework involved outlining the problem, solution, market potential, competition, business model, team, and vision. Participants practiced crafting value propositions and receiving feedback on their delivery. Common mistakes included being unclear, over-convincing, providing poor data, having weak answers, and lacking a human connection. A successful pitch requires the right opportunity, great business fundamentals, and a solid foundation.

1. PITCHING
Aïko Thurlow
York University (RevUP), March 27th 2018

2. PITCHING WORKSHOP
Meet
Aïko
Aïko Thurlow
Founder & CEO
• Founder & CEO, InFounders
• Entrepreneur-in-residence, York University
• Organizing team, Propelify, one of the largest
innovation festival in North America (8,000
attendees, first year)
• Over 6 years in the startup world
• Helped hundreds of early stage entrepreneurs
launch & grow their business

3. PITCHING WORKSHOP
To d a y ’ s A g e n d a
Why
pitch?
#1
The
Framework
#2
Essential
Wins
#3
Common
Mistakes
#4
Great vs.
Successful
#5

4. PITCHING WORKSHOP
Why
pitch?
#1

5. PITCHING WORKSHOP
• Funding
• Sales
• Feedback
• Grow team
• Networking
Goals
Why ➜ Who
Different people = different interests, different needs
Δ content + Δ how you pitch
Why pitch?
#1

6. PITCHING WORKSHOP
Why pitch?
#1
Why are you pitching
Who are you pitching
What do you need to convey
Before pitching…

7. PITCHING WORKSHOP
Example #1
Why pitch?
#1

8. PITCHING WORKSHOP
Example #2
Why pitch?
#1

9. PITCHING WORKSHOP
#2
The
Framework

10. PITCHING WORKSHOP
The
Framework
#2
Source: DocSend, https://docsend.com/view/p8jxsqr

11. PITCHING WORKSHOP
The
Framework
#2
But first: how to craft a value proposition
Value proposition:
How will your product / service benefit your customers?
Anatomy of a value proposition (one version):
- What’s your prod / service
- Who’s your target customer
- What value will your company provide them

12. PITCHING WORKSHOP
The
Framework
#2
Good
InFounders’ masterminds for entrepreneurs are “insider” groups
where early-stage founders collaborate to grow their businesses
faster and smarter by sharing advice, learnings, and momentum.
Bad
InFounders: no entrepreneur should go through the journey
alone. [slogan]
InFounders has a mastermind program which includes an end-to-
end methodology. [description, no benefit, no target]
Examples of value propositions

13. PITCHING WORKSHOP
The
Framework
#2
Good
InFounders’ masterminds for entrepreneurs are “insider” groups
where early-stage founders collaborate to grow their businesses
faster and smarter by sharing advice, learnings, and momentum.
Bad
InFounders: no entrepreneur should go through the journey
alone. [slogan]
InFounders has a mastermind program which includes an end-to-
end methodology. [description, no benefit, no target]
Blue = what’s my service
Red = target audience
Green = benefits / value
Examples of value propositions

14. PITCHING WORKSHOP
The
Framework
#2
Examples of value propositions
Good
Google is the world's largest search engine that allows internet
users to find relevant information quickly and easily.
And then there is…
Look, Feel, And Shave Like A Million Bucks. Without Paying It.
(Dollar Shaving Club)

15. PITCHING WORKSHOP
The
Framework
#2
Good
Google is the world's largest search engine that allows internet
users to find relevant information quickly and easily.
And then there is…
Look, Feel, And Shave Like A Million Bucks. Without Paying It.
(Dollar Shaving Club)
Source: https://blog.hubspot.com/marketing/write-value-proposition

16. PITCHING WORKSHOP
The
Framework
#2
Good
Google is the world's largest search engine that allows internet
users to find relevant information quickly and easily.
And then there is…
Look, Feel, And Shave Like A Million Bucks. Without Paying It.
(Dollar Shaving Club)
Source: https://blog.hubspot.com/marketing/write-value-proposition

17. PITCHING WORKSHOP
The
Framework
#2
Examples of value propositions

18. PITCHING WORKSHOP
The
Framework
#2
Examples of value propositions

19. PITCHING WORKSHOP
The
Framework
#2
Examples of value propositions

20. PITCHING WORKSHOP
The
Framework
#2
Examples of value propositions
Let’s practice

21. PITCHING WORKSHOP
The
Framework
#2
WORKSHOP
- Take 3 minutes to craft your value proposition.
- Find someone that you don’t know and pith them your value
prop. They will do the same in return. Give each other
feedback of what was good about it and what could be
improved.
- Integrate this feedback into your value proposition.
- Pitch someone else and exchange feedback again.

22. PITCHING WORKSHOP
The
Framework
#2
WORKSHOP
Warning:
Get and give feedback on how the value proposition is delivered
–not the idea.
Goal:
To improve your value prop through feedback so that it becomes
clearer and more compelling.

23. PITCHING WORKSHOP
The
Framework
#2
Source: https://blog.hubspot.com/marketing/write-value-proposition
HOW OUTCOMES

24. PITCHING WORKSHOP
The
Framework
#2
What’s in the perfect pitch deck?
Many variations.
Following Sequoia’s recommendations.
(VC firm that invested in Airbnb, Google, YouTube, WhatsApp,
Zappos, Symantec, reddit, Oracle, PayPal, LinkedIn, Kayak,
Evernote, Cisco, Apple, etc.)
The following pages are about how to pitch for funding.

25. PITCHING WORKSHOP
The
Framework
#2
Before starting your deck …
• Introduce yourself
• It’s nice to know who’s in the room before getting down
to business.
• Don’t hesitate to tell your story: why are you here?

26. PITCHING WORKSHOP
The
Framework
#2
1. Company purpose
Start here: define your company in a single declarative sentence.
This is harder than it looks. It’s easy to get caught up listing
features instead of communicating your mission.
sweetgreen: "To inspire healthier communities by connecting
people to real food."
Honest Tea: " ... to create and promote great-tasting, healthy,
organic beverages.“
InFounders: To empower entrepreneurs through peer-to-peer
collaboration.

27. PITCHING WORKSHOP
The
Framework
#2
2. Problem
Describe the pain of your customer.
How is this addressed today and what are the shortcomings to
current solutions.

28. PITCHING WORKSHOP
The
Framework
#2
3. Solution
Explain your eureka moment.
Why is your value prop unique and compelling?
Why will it endure? And where does it go from here?

29. PITCHING WORKSHOP
The
Framework
#2
4. Why now?
The best companies almost always have a clear why now? Nature
hates a vacuum—so why hasn’t your solution been built before
now?
Ex. Cellphone coverage is now widely available, even for travelers
heading to remote areas.

30. PITCHING WORKSHOP
The
Framework
#2
5. Market Potential
Identify your customer and your market. Some of the best
companies invent their own markets.
Total Addressable (Available) Market – or TAM – your full market.
Service (Serviceable) Addressable Market – or SAM – is the
market you can acquire with your product (incl. its limitations).
Service Obtainable Market – or SOM – What is the realistic
market share that your company can garner at six months, 1, 2
and 3 years after launch.

31. PITCHING WORKSHOP
The
Framework
#2
6. Competition / Alternatives
Who are your direct and indirect competitors.
Show that you have a plan to win.
• Unique differentiator
• Barriers to entry
• Everyone has a competitor (this money is currently used for
something else)

32. PITCHING WORKSHOP
The
Framework
#2
7. Business model
How will you make money?
• Freemium
• Subscription / membership
• Ads
• Charge a % fee
Do you have a diff model to create, deliver, and harness value?

33. PITCHING WORKSHOP
The
Framework
#2
8. Team
Who’s onboard with you?
What should I know about them? Is there a story to share?

34. PITCHING WORKSHOP
The
Framework
#2
9. Financials
• 1 yr, by quarter
• Annual up to 5 yrs (incl. cash flow & breakeven
Early stage = Keep it simple
Late stage= Add details
P&L
Balance sheet
Cash flow
Cap table
What’s the deal?
*Realistic optimist

35. PITCHING WORKSHOP
The
Framework
#2
10. Vision
If all goes well, what will you have built in five years?
This is your summary
- Why is this a great investment?
- What’s your unique competitive advantage?
Help them imagine what it would mean to team up with you.

36. PITCHING WORKSHOP
What about other slides?

37. PITCHING WORKSHOP
The
Framework
#2
Other ways to make a pitch deck
TechStars:
https://www.techstars.com/content/accelerators/startup-
fundraising-pitch-deck-financial-modeling/
Guy Kawasaki:
https://guykawasaki.com/the-only-10-slides-you-need-in-your-
pitch/
Donna Griffit (VC):
https://medium.com/the-mission/the-ultimate-cheat-sheet-for-
your-startups-investor-pitch-deck-602f7ac97ace

38. PITCHING WORKSHOP
The
Framework
#2
Source: DocSend, https://docsend.com/view/p8jxsqr
Recap

39. PITCHING WORKSHOP
#3
Essential
Wins

40. PITCHING WORKSHOP
YOUR BUSINESS
+
YOU
They need to believeEssential Wins
#3

41. PITCHING WORKSHOP
Make them believe in your businessEssential Wins
#3
(Assumption: you have a good business)
Note: We’re not talking here about How to improve your
business but how to pitch your business so that they believe in it

42. PITCHING WORKSHOP
Make them believe in your business
Make them understand why every aspect is worth caring for
Problem Value Prop Timing Market
Bus. Model Team Projection etc.
Essential Wins
#3

43. PITCHING WORKSHOP
Make them believe in your business
1) Understand their interests
How?Essential Wins
#3
• Look at it from their perspectives
• Talk about things that matter to them
• Find angles of your business that align with their vision

44. PITCHING WORKSHOP
Make them believe in your business
2) Generate excitement [FOMO]
How?Essential Wins
#3
• Believe in it yourself

45. PITCHING WORKSHOP
Make them believe in your business How?Essential Wins
#3
• Convey passion
2) Generate excitement [FOMO]

46. PITCHING WORKSHOP
Make them believe in your business How?Essential Wins
#3
• Body language & tone
2) Generate excitement [FOMO]

47. PITCHING WORKSHOP
Make them believe in your business How?Essential Wins
#3
• Body language & tone
2) Generate excitement [FOMO]
Let’s practice

48. PITCHING WORKSHOP
WORKSHOPEssential Wins
#3
Find someone that you don’t know in the room and tell them
your value proposition. Don’t exagerate it. Pitch as if you would
in a regular pitch setting.
They will look at your body language.
Do you look confident? Interesting? Overly excited? Drained?
>> Focus on genuine but constructive feedback

49. PITCHING WORKSHOP
Make them believe in your business How?Essential Wins
#3
2) Generate excitement [FOMO]

50. PITCHING WORKSHOP
Make them believe in you How?Essential Wins
#3
1) Trust that you can execute
• Including strategize, pivot, crunch, manage, grow, make
tough decisions
• Confidence that you can move mountains
2) Be someone with whom they can imagine working with
• Smart, dedicated
• Good personality
• Accepts feedback
• Good values (honesty, respect, etc.)

51. PITCHING WORKSHOP
#4
Common
Mistakes

52. PITCHING WORKSHOP
1. Unclear
No matter what, your value proposition (everything else) should be
crystal clear
Common
Mistakes
#4
1) Lack of context

53. PITCHING WORKSHOP
Wait. Where are we?
What are we talking about?

54. PITCHING WORKSHOP
Ahh!

55. PITCHING WORKSHOP
Great, now I’m ready
for the close-up

56. PITCHING WORKSHOP
1. Unclear
No matter what, your value proposition (everything else) should be
crystal clear
Common
Mistakes
#4
2) Less is more
3) The curse of knowledge
1) Lack of context

57. PITCHING WORKSHOP
1. Unclear
How to solve it:
• Give simple yet powerful explanations
(help them visualize it)
• What are the core things someone needs to know about
your product / service
• Practice
Common
Mistakes
#4

58. PITCHING WORKSHOP
Common
Mistakes
#4 Example #1

59. PITCHING WORKSHOP
Common
Mistakes
#4 Example #2

60. PITCHING WORKSHOP
1. Unclear
Make it clear -and sticky!
Common
Mistakes
#4

61. PITCHING WORKSHOP
2. Convincing vs. convincing
Calf story
Common
Mistakes
#4

62. PITCHING WORKSHOP
2. Convincing vs. convincing
Calf story
Common
Mistakes
#4

63. PITCHING WORKSHOP
2. Convincing vs. convincing
Calf story
Common
Mistakes
#4
• DO generate excitement = give the calf your thumb
• DON’T push your story down ppl’s throats = push the calf
Remember:
This is an opportunity to get feedback.
If ppl don’t light up, ask why and listen.
Questions = often hidden feedback.

64. PITCHING WORKSHOP
2. Convincing vs. convincing
Warning:
Don’t fall so in love with your idea that you’re blinded by it.
Common
Mistakes
#4

65. PITCHING WORKSHOP
3. Poor data & metrics
1) Not enough data
Common
Mistakes
#4
2) Inaccurate data (clichés)
3) Unrealistic story on how you’ll get there

66. PITCHING WORKSHOP
4. Weak answers
Think of all potential questions and objections in advance
Common
Mistakes
#4
• Brainstorm potential issues.
• Practice pitching and listen to people’s feedback.
Review your pitch to integrate feedback.
Pitch > Feedback > Improve
(Rinse & repeat)

67. PITCHING WORKSHOP
5. Build a human connection
Performance vs. genuine
Common
Mistakes
#4
Keep in mind that Investors invest in people.
Tell a story

68. PITCHING WORKSHOP
5. Build a human connection
One-way (pitch) vs. two-ways (conversation)
• You should be comfortable either ways
• Your pitch should trigger a conversation
Common
Mistakes
#4
Team:
• Show the dynamics of your team
• If you have an A-team, show it –not just on a slide

69. PITCHING WORKSHOP
Remember
They need to believe in YOU and YOUR BUSINESS.
Not being well enough prepared or being unclear says a lot about the
founder & the team.
Common
Mistakes
#4

70. PITCHING WORKSHOP
#5
Great vs.
Successful

71. PITCHING WORKSHOP
Successful PitchGreat vs.
Successful
#5
What happens in the judging room…

72. PITCHING WORKSHOP
Successful Pitch
Great pitch
- Your goals
- Their goals
- Skills to convey
what you need
Great vs.
Successful
#5
1
Right opportunity
- Right people
- Right timing
- “Luck”
2
Great business
- Thoroughly
validated
- High potential
- Top team
- etc.
3
FOUNDATION

73. PITCHING WORKSHOP
Thank you
-and good luck!
Aïko Thurlow
Founder & CEO, InFounders
RevUP (LaunchYU), York University