INT – PUB – NIGHT
MW – zoom in on two blokes on separate tables as they sit down to watch the footy on the big screen.
The Big Idea
I’m having a quiet beer at the local pub just watching the footy after a long week at work and politely say “G’day” to the bloke sitting at the table next to me.
After a quick chat about the footy he asks what I do for work and before I can finish the sentence he starts pitching the “Big Idea”!
Note: Within 7 seconds of any pitch we’ve already made a subconscious decision. There’s a right time and place for everything.
Don’t get me wrong I love “Big Ideas” – whether it’s art, new tech, a new show to produce or new ways of thinking. A question for me is always what makes an idea succeed in the competitive world of unlimited ideas?
Why some ideas succeed & most others fail is not just the product or service being pitched – creativity & innovation are nothing more (or less) than a combination of things before. Everybody is creative but not everybody practices and does the hard work at making ideas happen.
Creativity is thinking up new things. Innovation is doing new things. – Theodore Levitt
Talk is cheap and ideas are limitless so before I’m really interested I want to know how much real work has gone into the idea.
Most ideas stop at this point.
Key Questions to Frame the Big Idea Pitch
The key questions before any pitch include –
- What is it – the value proposition?
- How do you interact with customers?
- Who is your customer and what segments?
- How do you reach them?
- What are the resources required?
- Who will help you?
- What activities need to happen?
- What will it cost?
- How much money will it make?
Now break those questions down into both a punchy tagline and powerful 15 second pitch.
The big difference between most success and failure are those that go beyond the fast think & talk, who do the research and preparation, who take risks but most importantly ship, then when they do, persist when the doubters voice, who learn & then if needed pivot and learn again.
- For entrepreneurs you need to continually build a reputation and habit for delivering.
- Great timing is also very important – the right product or service at the right time and right channel.
- Passion – without you don’t put in the hundreds or thousands of hours for little or no pay.
- Attitude is everything. You and your idea is competing against hundreds and thousands of others for attention.
- and finally, do you understand your investors standard evaluation model for determining what’s good and worth investment for them?
Is your expectation over stated?
Commercialising the Big Idea
Let the auditions begin!