“You like that new triangle thing?,” I asked Irene with a little chuckle. We were standing on a corner in the 2nd arrondissement in the heart of Paris, having just finished one in a continuing series of sit-downs, skypes and phone calls with potential partners, funders and anyone else who wants to know more about (and maybe help) our fledgling baby. That same morning, at another pow-wow across town, I had ad-libbed a little riff about the three elements at the core of our product, which I described on the fly as the aforementioned “triangle.” And so when I repeated my new favorite metaphor in the later meeting, Irene Toporkoff, my ever patient business partner, gave it a nod of sort-of-approval. It may, or may not, make an appearance in the next meeting tomorrow evening.
As we plough on toward launch, and focus in on fundraising, the pace of meetings has picked up. I count at least 15 face-to-face meetings we’ve had since September 1, which means we are basically introducing our project once a day to someone who knows nothing or next-to-nothing about what we aim to build — and may be key in getting it built. It’s high stakes, and never boring. If anything, we are perhaps a bit loose in the way we approach it, typically with little time to prepare, tinkering with the presentation. What we lack in polish, we make up for in both passion and agility. And ears. The questions that are posed by people who may actually end up having a stake in the thing tend are bound to be among the best (read: hardest) you’ll get…and will require you to adjust not only the pitch, but the project itself.
As I’ve mentioned before, the experience of being a professional reporter offers some good tools for us would-be startupers. Whatever skills and experience we have in conducting interviews and unpacking information can be helpful in these meetings that are the building block for your would-be news enterprise. But of course, there are also some fundamental differences.
With our recent flurry of meetings, I’ve put together a quick list (with journo types in mind) of what to know about pitching your project. One that I’ll keep off the list, though it applies very well to me: Accept That Sometimes You’ll Suck.
Work in Progress: As emphasized above, the pitch is never a fixed object. Let what you learned from the last meeting inform this one, and be willing to test and refine your product and business rationales. And again, often the best thing that comes out of a meeting is neither funding nor a partnership…but an idea.
Be Yourself: As a reporter, I would rarely prepare specific questions before an interview, usually just jotting down the six or seven topics I wanted to cover just before going in. Other colleagues work better with a more structured approach. In either case, the objective is to both get the most substance out of the encounter and to be as comfortable as possible. Indeed, those two usually go together.
Follow Their Lead: Some will just want to hear you go on and on, others will interrupt you with questions before you even sit down. Ultimately it’s your pitch, but their show. Indeed, it’s more like the interview you had for your first newspaper job than the big interview you landed with some VIP.
Adjust the Dial: No two meetings and pitches are alike, but there are certain categories of people you’ll be meeting: funder, networker, partner, expert. Think before going in what you would ideally like to get from the person, and what are the essentials they need to know about what you’re doing. It’s not disingenuous, but a question of emphasis, especially because time will always be limited.
Getting In Isn’t Good Enough: Sometimes for a reporter, just getting in is 80 percent of the battle. It doesn’t have to be a brilliant Q&A, as long as you were there to get subject X to answer some of your questions. You may have had it no easier getting to the person you’re pitching to, but here you gain no points just for face time.
Start Strong: This is one I’ve always needed help on. On big interviews I was always slow out of the box, and would often try to think of something specific to say for an intro….though that sometimes made it even worse!? There are no second takes when you’re pitching, but at least if you can wow them later in the meeting, they may forgot that your opening line was…Uummm.
Props, People Here too, there are different approaches. Irene has convinced me that the best way is to bring a printed copy of our biz plan along, but to try to go as long as possible without pulling it out. Indeed, we sometimes mention it only at the end of the meeting, and send afterwards via email. Others may prefer pitching — or being pitched — with slides from the get-go. In either case, you are there to make an impression, a human one.
Get the Next Number: Irene always reminds me that every meeting should lead to another meeting. Or two or three. Ask for contacts, make connections, get the numbers/emails before you actually walk out the door.
Finish Strong: As things are winding down — after whatever detours into the details or the state of digital media — look for an opening to bring the discussion back to your core product, and the reason it is needed now.
Follow Up: Thank you, thank you, just one more thing I’d like to ask, thank you again…
…and good night.