How to pitch: Painkiller Vs Vitamin

When pitching any new idea, products or services to an investor, you want to focus on the undeniable benefits not the potential wins.

PAINKILLER VS VITAMIN

In basic terms, a painkiller is something that, when pain strikes, you can’t live without. A vitamin is something that is good to take and may show long term benefits but will not yield immediate results.

When developing your pitch, it is useful to think of the elements of your presentation that show immediate results and have clear, measurable benefits. Your idea will likely contain multiple aspects and a variety of features and benefits. Whilst features can be useful, they should not be the primary focus of any pitch. You should frame your idea around the visible and immediate benefits of what you are offering.

Limiting yourself to the benefits rather than the features will force you to deliver a pitch that is packed with tangible takeaways. Thinking again about the difference between a painkiller and a vitamin, ask yourself what problem is this product or service solving. What is the pain and how is it relieved? This keeps your pitch focussed on the immediate and provable aspects of your idea. Features do not solve an immediate problem. They can be nice to have, and they may promise long term results, but they do not create urgency.

PAIN

PItching your idea as a painkiller gives you a great framework for your idea. Firstly, you introduce the idea of the pain - the problem that your product and services will solve. Think about the fundamentals of the problem in extreme terms. What are the secondary problems, resulting from the pain and, even further, what are the problems that occur if the pain is left untreated?

This allows you to introduce the benefits of your painkiller? How fast-acting are the results? How does it free up the body to achieve more? How does it prevent further pain? Much like a painkiller, how accessible will this be and how commonly does the pain occur? Who is the audience that experiences this pain and how much of that market share will your painkiller be likely to gather? Is this painkiller a new sugar-coated version of something already available or is there something revolutionary about your solutions that will capitalise on the entire market?

Each of these points is a benefit. A clear, irrefutable benefit extending from your concept. If you are unclear on the difference between a feature and a benefit, ask yourself; “does this relieve the pain?”

FEATURES

You can still make room in your pitch for features. They are useful colour and can certainly spark interest but they shouldn’t be relied upon as the pillars of your pitch. Use features sparingly and be honest with yourself about whether they are a valuable use of your time.

Working with a communications coach, you can create a safe environment in which to challenge the difference between a feature and a benefit. Features, like vitamins, are good to have when time and money allow but a painkiller is something you must take when the need is greatest. You should be presenting your ideas as essential and demonstrate the great need they fulfil.

Businesses can function with lots of features and assets. For example, SEO is great to generate interest, but can take years to yield identifiable or even subtle results. The benefits of your pitch are the aspects that solve immediate and major problems.

IDENTIFYING THE PAIN

One of the most valuable aspects of a pitch can be to help a business or an investor identify a mystery pain. Oftentimes in business, as with our own physical health, we recognise a problem but struggle to identify the cause of the pain. Like a doctor, you should be able to concisely pinpoint the location of the problem, often to the surprise of the “patient”. Being able to identify the problem gives you a unique ability to solve it through your products and services.

Once you have outlined the cause of the issue, you can easily offer your solutions. Identifying the issue puts you in a position of knowledge and authority to introduce the cure. When we are experiencing pain, it is a barrier to all other progress. A vitamin is not going to change anything immediately but a painkiller will free us up to move forward which can ultimately save time, effort and money.

Once you have alerted someone to the problem, they soon understand their need for the solution. Showcasing your ability to spot the problem buys you credibility as the problem solver. Identifying the pain, and highlighting the benefits of your painkiller, you immediately introduce the need for a fast path forward, pain-free, with agility to move forward. Buying into your products and services becomes an urgent need.