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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 leadership navigator and advisor to leaders
of high growth and emerging businesses. He creates compelling
visions and comprehensive strategic plans, and coaches on
effective leadership and management practices. He is a
recognized speaker, trainer, coach, and international business
strategist and author of the book Elephant Walk: Balancing
Business Performance and Brand Strategy for the Long Haul.
http://www.innovationhabitude.com |