Welcome to the Dreamit Dose.
Most founders want to demo during a pitch.
The problem is, 90% of the time the demo sucks.
You're not only losing the benefit of showing off your product,
but it's actually a net negative because the demo is so bad.
This is really easy to fix.
You just need to know how to demo like a rock star.
Let's dive in.
So when does this happen? You know the moment. You've been there.
You're going through your pitch deck. You're all excited
and you want to show how great your product is.
But before you do that, I want you to think carefully. What's your objective?
At that moment, what are you trying to accomplish?
What you should be trying to accomplish
is showing how your product solves a big and urgent need.
Tying that back so investors can clearly see,
at this special bring alive moment exactly what your product does
to satisfy the customer's need.
The important thing is, right then and there,
you need to nail it.
So what's the trick? Do a use case demo.
Focus on the top 2 to 3 use cases your product addresses
and set that up by doing a day in the life of.
So you want to talk about how for a doctor, an attorney, a software developer,
where before they had these issues or problems,
now with your product, and these use cases,
these are the things you're going to solve.
And the benefits they get?
It could be things like saves time, decrease costs, increases revenue,
takes away pain points, or any huge opportunity where you can deliver benefits,
take away pain points, or add new capabilities.
Now when talking about this, don't use pronouns.
Don't use he and she and they.
Instead, think about people and naming them like actors in a play.
It's the doctor, the nurse, an architect, a construction manager,
the mechanic, the shopper.
Talk about the actors that are interacting with your system.
If you don’t and you use pronouns, it's wildly confusing to the audience.
The investor, who is not as intimately involved, really gets confused on relative pronouns.
So stick with the roles. And the extra benefit?
It shows you really understand the industry and who's going to be interacting with your product.
Once you're using your proper pronouns,
next you want to think about describing how, when, and why your solution applies.
Now you're going to start talking about which benefits you deliver.
How do you pick the benefits to talk about? It's easy.
What are the top benefits you deliver? Power move!
Go take a look at the Dreamit Dose on competition slides.
It talks about in your competition slide
how your benefits should be listed in priority order.
So those top 2 or 3 benefits you deliver
should be the benefits that you talk about when you're demoing your product.
You're showing your strongest benefits
and your strongest differentiators you can deliver.
One more power move if you want to really be ninja on this.
Go ahead and drip in a little bit of traction.
So you're doing a demo and talking to investors and saying
hey, these 2 or 3 customers, these are the reasons they bought.
These big differentiators and these big features and benefits we're showing you.
And name those customers if you'd like just a little bit.
You'll hit your full traction later in your deck,
but it's a great time to just drip a little traction in now
and make the story a little bit more believable.
So let's go through an example.
We have a new digital stethoscope.
The first place where we are starting is with healthcare professionals
in hospital emergency departments.
Imagine when an ambulance pulls up with a critically ill patient.
The triage team immediately starts listening for heart and lung sounds.
Where before, using a standard stethoscope,
if the nurse or doctor needed an emergency consult
from cardiology or pulmonology
they would have to wait a very precious 3 to 10 minutes
for someone to arrive.
Now, using our device,
those heart and lung sounds are transmitted to a remote specialist
reducing response time by 80%.
The benefits are that we save lives by reducing time,
and save money as a remote consult is less expensive.
An additional top benefit is that our algorithms
flag frequently missed medical conditions.
None of these benefits are possible with a simple traditional stethoscope.
That's it.
That's how to deliver a killer demo during your pitch.
Do a use case based demo.
Talk about where before and now
to paint a picture of the benefits your product is delivering.
Talk about users like actors in a play. No pronouns here.
Focus on the strongest benefits you're going to deliver
as listed in priority order in your competition slide.
That's your Dreamit Dose in about 5 minutes.
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See you next time.