How a low-tech startup beat tough tech competition, and what we can learn from them.

The real question is...How did they do it? And can your company do the same?

The dude in the pic above, yeah that's Marc. An MBA student here in Dallas at SMU. As you can see, he (and his colleagues) of Exchange Crate just punished the competition as they won all the money in SMU's 15th Annual Business Plan Competition, if you've seen the show Shark Tank, you understand this competition very well. Now, I'll tell you what Exchange Crate does at the end, you won't believe how simple it is.

OK that's WHAT happened, the real story is in HOW it happened...and what you might be able to learn from it. Here's the story...

I have sat through so many of these Shark Tank style Pitch competitions that I have found trends in what makes winners win, and losers lose. Here is what is MOST interesting about the observation; the best products, best technology, best ideas, or even the best market share doesn't always win...not even close.

There are 3 things I see most companies miss in their sales pitch or business presentations. Just ONE for today...the other two to come later.

PROBLEM ONE:

I know, I know...ya momma told you it was ALL about you, I get it. Well guess what, that ended the day you left home. Most companies sales pitches intro with junk about why they are the market leader in blah-blah-blah, or quotes from their founder, or maybe some recent media reports. Here's the deal people. Who Cares? I know it's very difficult to focus on the audience to the point where they feel they are being served, educated, and appreciated, but that's exactly the point. Since I saw this problem from many entrepreneurs, startups, and even Fortune 500's I work with, I figured they needed something that would force them away from loving themselves, their product or their service so much. We see this all the time, and there has to be a better way.

Look at the graphic above. Say it out loud. Isn't it true? Feels good to say right?

Anyway, watch this short video below to find out how this problem was solved.

As a result of implementing the technique discussed in the video, Exchange Crate took first place in the competition, and almost $50K, which was everything to be won that day.

What's interesting, very interesting in fact, is that they did not have the best "product" but they clearly had the best pitch that included key elements that influences adult decision making, and adult buying behavior.

By the way, in case you're wondering, the competition up against Exchange Crate included some of the most advanced technology and innovative products on the market. Yet Exchange Crate is an immersive cultural experience sharing company. Where children get these very cool "boxes of culture" (crates) shipped to them every month through a subscription service. So instead of going to China, they would get an Chinese Exchange Crate with snacks, books, maps, songs, photos, etc from that country.

So...Can David beat Goliath? Sure, but like David, you'll need to intently and consistently focus on your "audience", which is much easier said than actually done.

Perspectivity Consulting PerspectivityIntl.com 1-800-971-4160 [email protected]