This is the final level. The path behind you is long. Many have fallen along the way. When others gave in, you pushed on. Some call it inner strength. Others call it stubbornness.

You have reached the last level of the Innovation Kit. Well done!

Cash in your last voucher for the online coaching session on pitching. Use the link on the right side.

Adapt where needed. Make sure to check the extra guidance at the bottom of this page.

Get time, money or whichever other result you defined as a measure of success.

EXTRA GUIDANCE

Welcome to the “Boss Level”. Stop playing HiPPO!

• HiPPO = Highest Paid Persons Opinion.

• Why does level 6 involve asking for funding? Because we want personal innovation kit to be reality-based.  You don’t know what an executive thinks until you ask for money and/or time. So, you have to ask for funding.  

Who to pitch to:  

• Those who can eventually green light or endorse to higher execs to make it real. 

• Domain experts who can understand engage with your data o Sr. director or above 

• They become the start of your “board” for blue box, which will take your concept to the next level.

How to pitch your idea.  

• Guidelines for your presentation: https://drive.google.com/drive/u/0/folders/1LlRS9Pvi6rhU6MRlHVt5QZ2muHAUM3H0

• Always end with your ask. Whatever you need to run your next experiment. Minimum € 2000.  

• The value of the meeting comes AFTER you ask for funding or other resources. So make sure you don’t ask in the last minute.
  Why? Because when someone says “no” you can ask why and what would change that answer. This is extremely valuable and not a possible conversation until it has been asked.

“What would you need to see before you would fund further investigation of this idea?”

Who you should pitch before them and why.

• Whichever executive manages the area your innovation would naturally fit in with.

• “Don’t wake the sleeping bear unless you need the honey” (i.e. only meet as high up as you need to in order to secure the funding you need for continued validation work.)

• Domain experts (engineers, architects, scientists, product managers, researchers)whose reputation can lend weight within the organization.

• Understanding the way the company actually works::

  • The CEO doesn’t have any money. He’s already assigned it in the annual plan. He’s not going to meddle in the plans of his staff, or their staffs, because that undermines their responsibility.  

  • Execs will direct you to the people who are responsible for that area. Those are the people who need to sponsor you. If report recommends to their execboss, it probably happens.

  • By the time you meet with a high exec, have already pitched all their relevant reports. You will know what they need and want because you willhave heard it form their reports.

How to get the meeting.

• Consider the executive you want to meet. Approach their team members: 

  • “I’m going to meet with (VP or SVP) and I’m going to talk to him about (thing in your area) and wanted to meet with you first”

  • Ask that person, “what would (VP or SVP) ask?” so you will be prepared

• Know the KPIs of who you are pitching before you pitch  

How to package your data. Reviewing the pitch template.

• Ask for 30 minute meeting (easier to get). They’re going to be 5 minutes late, have to leave 5 minutes early, and you need time at the end of the presentation to get the real conversation after the ask. So your pitch shouldbe 10 minutes at the most.

  • You want to shut up as soon as possible so you can learn – every minute you’re talking you aren’t learning.

  • Don’t put lots of text on a slide. You want them engaging with you, not reading.

  • Ask for something they can give without checking with accounting. 

  • Be clear what you’ll do with the resources. “I’m not selling you a positive result in this experiment. I’m offering a chance to know if this is a yes or no.”

  • Don’t list every way it COULD make money. Pick 1 with few mostlikely.  

“Don’t worry. You either get a ‘Yes’ and funding or a ‘No’ and you learn something that will help you move forward. Either is a win.” 

USEFUL TOOLS

Guidelines for your presentation: https://drive.google.com/drive/u/0/folders/1LlRS9Pvi6rhU6MRlHVt5QZ2muHAUM3H0

OBJECTIVE:

Prepare a 10 minute presentation on your project. Review your presentation with your mentor. Convince any stakeholder to invest what you need for the next step in your project.

USE YOUR VOUCHER