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Brick No92: A quick Bill Gates roleplay
By Matt Weston, Tuesday 24 August 2004 Why, only last Friday I talked about how to find your Elevator Pitch . . . how you need to master the technique of boiling down what your business does . . . how you need to get it across in a sentence or less. Leave your cynicism at the lift doors: Imagine, if you will, that you really have cornered Bill Gates in a lift . . . say at Manchester Airport . . . I'll leave the whys and the wherefores for you to fill in. So it's just you and BG. You have 30 Seconds Or Less to get him to invest in your business, or to personally recommend your business to his 400 million customers. First, you thank your lucky stars you read last Friday's brick. Then you start your pitch. What is the most unique, remarkable, memorable thing you can say about your business? Perhaps that you number Her Majesty The Queen amongst your customers . . . or that your business is the only UK manufacturer of organic mouthwash? Whatever it is, you say it. And you know what? Bill really gets it: Much to your delight, he's nodding the nod, even smiling the smile. But then, just before the lift arrives at his floor, Bill turns interrogator. He asks this question: "So How Are You Going To Make Money?" And, as you struggle for words (it wasn't part of your pitch) the lift doors slide open. And Bill Gates is gone. So How Are You Going To Make Money? Surely it's no great surprise Bill posed the question? After all, if he's going to invest his MS Office lucre in your business, he needs to know two things: (a) What makes your product or service remarkable? (b) What is your Selling Model? You need to be able to answer both questions. And the fastest way to do that is if the answer to both questions is exactly the same . . . if your Selling Model is - in itself - the most remarkable thing about your business. Examples (1) Online video rental companies Netflix (US) and Webflix (our UK equivalent). The Blockbuster busters. The Elevator Pitch? Simple: they've reinvented the whole way people pay for video rental. You pay a flat monthly subscription fee, not a per rental fee. And there are no late fees, because you can hold up to three videos for as long as you choose. (2) Google AdWords. The most interesting thing about the ads that Google makes appear at the side of its search listings isn't that they are super-relevant. It's the way they are billed: you don't pay a flat fee. Instead, you pay a small amount every time somebody clicks on your ad (pay-per-click). (3) All You Can Eat Pizza. It's not just your investors who are interested in your selling model. So are your customers. If the way you charge for your product or service is remarkable - if you can get your customers talking about it - you're on to a winner. Take All You Can Eat Pizza (or curry). The experience is all to do with the way the food is charged for. Similarly, restaurant Belgo runs an offer called "Beat The Clock". If you order certain dishes, you pay the amount the clock hands show when you order (e.g. at 6.36pm you pay £6.36). It's a sure way to get people talking about the restaurant, and to get people to turn up early. Remember to sign up: back to top |
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