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Vitalik Buterin had just given. I was standing outside the Theater Casino in Zug where people were discussing the speech.
Someone said:
I am a professional pitcher, and I do not understand Vitalik's phenomenon. Most ICOs that are raising now effectively have poorly structured, confusing and simply pathetic pitches. However, if it is a criterion for investors, Vitalik should not have gotten a single dollar.
I agree and disagree with this comment at the same time. Best if we look at facts behind each story.
<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Fact 1: & nbsp; Vitalik never pitched Ethereum to VCs or big institutional investors"data-reactid =" 18 ">Fact 1: Vitalik never pitched Ethics to VCs or big institutional investors
And ICOs today do. They do require a minimum investment during their private pre-sale to be $ 250k or $ 500k. They do want VCs on board. They do want institutional money. Most private projects.
Vitalik was pitching to developers because they spoke the same language. He essentially created his project for developers.
Here is a quote from his pitch in 2014:
Ethereum is a platform that makes it possible for any developer to write and distribute next-generation decentralized applications.
If you look at the video, and then read the comments:
Yes, his communication skills are not the only thing he has not been able to do, but he has never done so much work on blockchain, or simply someone who's not that good with numbers and formulas. Yet he got the funds.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "There is no conflict here. Data-reactid = "35"> He created a product for developers, pitched it to developers in their language, and received the funds from a supportive community of developers.There is no conflict here. He created a product for developers, he pitched it to developers in his language, he got the funds from a supportive community of developers who understand this language.
The conflict is, however, always there, when ICOs today claim they are changing the world by mainstream blockchain making …. And yet they can not explain in the language of "mainstream people" what they are doing.
Pitching to fellow-developers and pitching to a VC are two different stories. And yes, powerful communication skills are essential when you are pitched to fund or pitch your project from stage – to people who have not been watered with your work yet.
In Vitalik's case, people who have been bought in a public hall.
I'm being spammed by at least 5 ICOs a day that I think I should allocate at least $ 250k in their project in the first message. Weird people, indeed … They mass email irrelevant information and call it pitching.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Also read: Fintech and blockchain pitches can be ugly, but here's some communication advice for fundraising startups to get the point across"data-reactid =" 41 ">Also read: Fintech and blockchain pitches can be so much, but here's some communication advice for fundraising startups to get the point across
<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Fact 2: & nbsp; Vitalik was driven by purpose, not by profit"data-reactid =" 42 ">Fact 2: Vitalik was driven by purpose, not by profit
He talked a lot about the public good, though only a few people understood what he meant by this back in 2014. He's not the most eloquent speaker but he never needed to be. He had been sharing his vision with people who were driven by a similar purpose. It's all about speaking to your audience in the same language. I am sure most of the CEOs and CMOs today will be able to explain the value of their solution to developers, for example. They simply speak different languages.
The universal language is the language of purpose. Many startups talk a lot about the revenue flows.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Who is the product for? Have you tried to pitch your potential clients? Do you speak the language of your clients? What was their feedback?"data-reactid =" 49 ">Who is the product for? Have you tried to pitch your potential clients? Do you speak the language of your clients? What was their feedback?
This is what an investor would love to hear. Purpose. Reason. Feedback.
Instead, projects at each conference copy each other and repeat themselves. We hear a lot of long, confusing, sophisticated pitches that "mainstream" people can not relate to.
<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Fact 3: & nbsp; Fraudsters have the best presentation skills"data-reactid =" 52 ">Fact 3: Fraudsters have the best presentation skills
They have no idea how this thing works and they absolutely do not care.
These people are driven by their commission, not the idea.
The ability to articulate well and the ability to connect When teams invite players to pitch on their behalf, it's usually a failure. It's obvious to the audience when it's a "speaker" driven by their commission, and it's a shame when they can not explain their own project.
<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Here is the catch: Most great creators are really bad at explaining what they do"data-reactid =" 57 ">Here is the catch: Most great creators are really bad at explaining what they do
They live in their own world and they get it at this point.
I always recommend teams to the audience instead of training technical presentation skills: "how to move to a powerful voice" or "how to move your hands" .
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Also read: Pro pitch deck tips for beginners"data-reactid =" 60 ">Also read: Pro pitch deck tips for beginners
Help people understand why you care. Explain what exactly your solution will change, but in their language. It's really hard to see for someone from the team. Not just talk for 15 minutes on stage.
- Communication directly affect how much money you're going to raise.
- Communication is not about developing a pitch that you're going to repeat at every conference. It's about building relationships with clients, investors, audiences, media … well, with people.
- Relationships never have deadlines. Most ICOs do, and teams hurry a lot. Changing this one thing can create tons of opportunities for most startups.
Hope you are reading this in the same language
Yours,
Natalia Tokar
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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Photo by & nbsp;Ben White& Nbsp; on & nbsp;Unsplash"data-reactid =" 71 "> Photo by Ben White on Unsplash
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The post Want to make mainstream blockchain? Then speak the mainstream language appeared first on e27. "data-reactid =" 72 "> The post to the mainstream?
