Below is an elevator pitch ‘workshop’ I gave for the ‘Agents of change‘ entrepreneurs club of Melbourne University. The video below is the one of 6 x 10 minute videos. The first (the one below) includes an ‘example’ pitch I did for rentoid – then has ‘alot’ of questions and answers. The last of the videos, workshop 6 – all of which are here has some ideas on great pitcing practice.
It’s kind of long, but the largely due to the discussion afterwards!
Since we’ve been going through a massive growth spurt at rentoid – I’ve been thinking about the skills which matter. The skills which will take us from start up – to business. That stuff that happens after we’ve proved our concept and people are getting involved in what we do. And here’s my conculsions:
1. Project management. We must get the stuff done we’ve been talking about with our customers quickly. They haven’t got time to wait for us to get our act together. We must deliver our promises, or lose them forever.
2. Leadership. Keep the team inspired and motivated, while maintaining the culture we believe in and have already created. Just because we are starting to achieve our goals doesn’t mean we need to invent systems, create paperwork and lose trust for each other. This is where we prove there is another way to do things in business & life.
3. Maintain Momentum. Go ‘back to back’ in sporting parlance. The ability to maintain public interest and is difficult after unpaid national TV coverage. We’ve got to keep the tap running, keep communicating and getting coverage. This is where communication frequency becomes way more important than communication depth.
Another great way to keep ‘em talking about rentoid?
We make sure we deliver on all the stuff we said we’d do – refer point 1.
When rentoid.com was launched. I believed in the concept, the dream and the process. (still do).
So in order to make the site work I had to put some stuff to put up for rent. Stuff I didn’t even own – yet. Once the site went live, it needed stuff on it. But at that stage we had no members, so we had to populate the site. Content was and is King. Included in my listed stuff was a home gym. A rental came in for it. So I went and bought it. It cost me $400 to buy. I rented it out for $140. Then Sold it on Ebay afterwards for $280. (We now have other suppliers of gyms for rental on rentoid)
A good user experience for a new member
A $20 profit
And I felt the excitement that goes along with bootstrapping; finding creative solutions, and most importantly, inventing transactions.
4.17pm - Get email from friend advising of a small bug on rentoid.com
4.17pm - I email my main guy from my tech team to ask him to check it out
4.21pm - I receive email from my tech guy saying – bug fixed please check it!
4.23pm - I email my friend advising that it’s all fixed saying – ‘my guy is quick.’
4.25pm - Friend emails me back saying “..Wow… that’s amazing.” Blog worthy!!
Never underestimate the power strong relationships within supply chains. Strong relationships build efficient supply chains – not the other way around.