Mastering the art of first impressions

Ronald Meyers, associate professor of entrepreneurship in the University of Cincinnati's Carl H. Lindner College of Business, shares insights into teaser statements and pitches.

“Imagine you are in a network meeting as a new entrepreneur,” Meyers said. “There are 100 people in the room, including someone who is your next customer, a potential investor and a critical resource. You can’t possibly meet everyone in the room to identify who these critical assets might be, so how do you find them? The teaser statement.”

A teaser is a single-sentence, high-concept statement that precedes a more detailed pitch and is typically delivered in less than 10 seconds, like a title or headline. For example, Christian Mingle pitched itself using the teaser statement: “A Christian dating site for God-centered relationships.”

“People directly understood the company and the concept,” Meyers said. “A great teaser statement will draw those key resources to you because they can see how your business/idea works and desire to assist.”

A well-crafted teaser statement includes several attributes: 

1) An X for Y analogy to explain who you are or what your business does

2) A strong “why” that resonates with the audience

3) An aspirational statement about how your idea makes the world a better place

4) A visual analogy so that the listener can imagine a problem being solved 

“Being able to communicate complex information in a way that everyone ‘gets it’ is the key,” said Meyers, offering the following case in point:

“‘We’re the Airbnb of babysitting services.’ This example demonstrates you don’t need a lot of words or details because it is easily understood. Using a clear X for Y analogy can bring simplicity to complex ideas. Now your time can be spent building on your story/pitch about why this problem needs to be solved.”

Creating a successful pitch includes identifying what makes your business worthy of investment. The amount of time you have been allotted for a presentation will influence how detailed you should be.

• Elevator pitch: less than two minutes

A concise introduction that states who you are, what your experiences have been and what your product or idea has to offer. It is verbally shared in a variety of first-contact situations.

• Presentation pitches: five minutes

Expanding upon your elevator pitch, briefly describes your story, answers what topic your research, product or expertise entails and outlines how you are qualified to solve a specific problem. This may include a short PowerPoint deck.

• Presentation pitches: 10 minutes or more
  

A more in-depth presentation with more details about your business, including the major points of your business plan. This also often includes a pitch deck. 

• Regardless of the time allotted, it is paramount to know every aspect of your company or idea so that you are prepared for follow-up questions.
• Should a Q&A session follow, keep answers brief and concise.
• Keep your tone more conversational. Be well-rehearsed but not stiff.
• Avoid getting too detailed on the technology behind your idea, which will lose your audience. Think high-level overview for the pitch. 

As part of the Cincinnati Innovation District, the UC Venture Lab program located inside the 1819 Innovation Hub teaches would-be-entrepreneurs the art of the pitch through the pre-accelerator program. 

Featured image at top: Photo by Cytonn Photography on Unsplash