Brant Pinvidic is a veteran television producer, award-winning director, and the CEO and founder of INvelop Entertainment. Just two years ago, he directed and produced his very first feature documentary, Why I'm Not. The critically acclaimed documentary bagged an award at the 2015 Manhattan Film Festival.
Brant is not just an accomplished entrepreneur in Hollywood, but he is also a renowned public speaker as well as a presentation and sales coach to hundreds of CEOs from all over the country. He is widely regarded as being among the most creative sellers within the television industry, which has paved the way for him to develop the "3-Minute Rule." In this article, we will take a closer look at this straightforward approach in pitching a business idea, which helped Brant become a top C-level consultant in the business.
Focus, Finish, Follow-Up
When pitching a business idea, there's no time for you to say anything that’s not absolutely essential. According to Pinvidic, you should not worry about the setting of the stage, the proof of a claim you'll make, or the details. You can worry about the follow-up paperwork after the pitch.
What you should do instead is to focus on the 5 W's, finishing on time, and shutting up until someone asks you a question.
Below are the 5W's:
- Who – Who’s the audience for your product? A potential investor must know who'll buy your products and the size of your potential customers.
- What – What is it that you're selling? You have to be specific. Remember to leave the technical and marketing jargon at home. Defining a terminology that you used will just confuse your audience. During the first pitch, an investor does not have to know how a technology works. The pitch stage is where you're selling the sizzle and not the steak; therefore, you need to keep it simple by using words everyone understands.
- Where – Where specifically are your prospective clients or customers spending their money as of the moment? In other words, who is your competitor?
- When – When can the product be ready for marketing? This is where you present the accomplishments of your business. If you are still starting out, don't be scared to say so. It's dangerous for your financial future if you say you are ready when in fact you need two to three more years of research and development.
- Why – Why is the business you are proposing different? Does the market need your product? If so, why? Also, why should anyone invest in your company?
You can cover all these questions in 90 seconds. That leaves you with 1 minute and 30 seconds for other details and information. Do NOT skip these five essentials, as they will give a boost to your chances of being remembered.
Also, Pinvidic suggests that you don't put a lot of people onstage regardless of how good your staff is. A three-minute presentation only needs a single person for it to work.