A Powerful Pitch Framework from the Hustle’s Sam Parr
Here is a Super Clear Way to Tell Your Story
On the latest episode of the My First Million Podcast, Sam Parr and Shaan Purri (in cooperation with Stonks.com) listened to entrepreneurs pitch their businesses for investment. The format was similar to Shark Tank, with Sam and Shaan evaluating the investments, but with people on Stonks also potentially able to invest.
The first group to pitch, 5x.io, had an interesting business but a bad pitch. Sam Parr riffed off a much better story framework for opening the pitch.
Here is the framework:
When I was…[description of former job or circumstances (the founder of 5x.io used to be the Head of Data for WeWork], we kept experiencing [problem]. We solved it by [expensive solution], but still [hold-over problem].
By talking with other people in [position or industry], we found they all have the same problem.
To bootstrap a solution, we hired a couple of friends and we’ve been doing this largely by hand. We convinced [x,y, and z company] to give us some money, and we’ve automated a lot of it.
Now all of these companies, instead of hiring 30 people, just use this software, and it saves them [$x] and [y time].
