| Selling You or Your Project Are you trying to sell an idea for a project or business? Do you need to raise investment capital or obtain corporate funding? If you need to gain investor, executive, and peer support for your project, you must be confident are you that you can convince them quickly. You will not be successful if you are a nervous wreck, or if you are not fully prepared. Many people get anxious about this, but they don’t really know why or what to do about it. One of the biggest contributors to this anxiety is too much focus on your self. What does this mean? Some ways that people sabotage a good presentation include: • Putting your needs in front of your passion for the opportunity. • Believing that you are asking someone to give you money, rather than convincing them of an opportunity to make or save money as a result of your project proposal. • Allowing your fear of rejection to curb your enthusiasm and confidence. • Poorly thought-out logic for how you propose to address the opportunity. • Insufficient supporting information to validate your assertions. • Denial about the competitive threats that already exist. • Lack of understanding about the risks to the project and potential mitigation strategies. The investor or decision maker will evaluate your presentation based on how effectively you convince them about the outcome you are proposing. Is it desirable, achievable, and are you committed to seeing it through? This requires a balance of both elements to be successful. That is, a balance between the opportunity, and you. Imagine this is a scale that must balance with the weight of the opportunity on one side and the weight of your commitment on the other. On the opportunity side, you must convince them that the opportunity is worth pursuing. You have a clear and compelling long term vision for what the outcome will be. You understand the problem thoroughly. You can identify the people and a significant number of them that acknowledge that they need a solution to that problem. You understand how to reach these people and get your solution to them. You are aware of the competitors and why your solution is a better alternative. You have a clear logical process and model for proving the return on investment this project will produce. You have assembled a strong team of people to help you accomplish the project. You understand some of the key risks involved and the potential strategies for reducing them. On the ”YOU” side; you must convince them that you believe in this project and the outcome you seek to create. You are confident that the, solution, team, and proposed project will be executed successfully and deliver the outcomes you are seeking. You are passionate about the vision and the potential that this project has to make the difference you believe are possible. You are committed and dedicated to achieving this regardless of the bumps in the road that will appear. You must believe without hesitation that this is the best solution, and that it will succeed. You must be courageous enough to present and defend your project to just about anyone, putting your own ego and fears aside. Focus on the opportunity side allows the magic to happen. Specifically, you need to address the following considerations: • Build the case for why this is a great opportunity, how big it can be, and why the outcome is so compelling. • Articulate your understanding of the business model or technical model that will be required. • Demonstrate that you understand how the roadmap to success will be built. • Illustrate the risks and challenges that this project will face. • Demonstrate your understanding of the proposed actions to mitigate them. • Share the competency, experience, and overall ability of the team you have assembled to successfully execute the project. • Convince them that you have thoroughly assessed the opportunity, the risks and the resources needed. Show them that you understand the connection between their investment and the manner in which that investment will be returned and those returns multiplied. Now watch what happens to the “YOU” side as you work on the opportunity side, automatically: • Your knowledge of the subject will automatically increase as you develop the case and the logic flow from investment to returns. • Your confidence will increase as you develop strategies to manage risk, recruit the best possible team, and assure that the design of your model is sound. • Your belief and commitment to the project grows as your confidence increases in the project, the business case, and the team that can execute it. • Your courage grows in presenting the case grows with the knowledge, confidence and belief in the project. As Margaret Truman said, “Courage is rarely reckless or foolish... courage usually involves a highly realistic estimate of the odds that must be faced”. By focusing diligently on the opportunity, you will automatically accrue knowledge, confidence, belief, commitment, and courage on the “you” side of the scale. This is exactly what is required to balance the scale and it cannot be place there by you focusing any energy on it other than by developing the opportunity side. The point is that the “you” side is not about you at all. Rather it is what the audience receives from you as you communicate the story about the opportunity. They will clearly see your passion and commitment for the opportunity and the outcomes it can generate. If presenting to a group audience is intimidating, then the best thing to do is practice. Assemble a group of people who are close and friendly and ask them to give you honest feedback on your presentation. Deliver you presentation in front of a video camera and play it back to yourself. This will help you with delivery of the message and also with timing – learning to anticipate where questions might arise. Remember: you are selling an opportunity for the decision maker that has a return on investment outcome first. You are not selling yourself or asking for help to save you from any difficulty. This is not purely about confidence as Zig Ziglar talks about it, “Confidence is going after Moby Dick in a rowboat, and taking the tarter sauce with you. A bullfighter who goes in the ring with mustard on his sword”. By focusing on the opportunity, you can develop courage in the knowledge that your business case and strategy are sound. Patrick Smyth is a business navigator, coach and mentor to leaders of emerging and high growth businesses. He improves business performance through effective vision and strategy planning, leadership, and marketing. His focus on business outcomes, growth, objective setting, team building, and communications builds sustainable productivity and growth. www.innovationhabitude.com |
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