To Pitch as a Pope – Lessons for an entrepreneur via Pope Francis

You are not the front runner; in fact people don’t even know who you are. They expect one of the favorites – you do not fit the mold of the most eligible candidate by most (if not all) polls. But yet – here you stand, in full glare and knowing that the entire world is watching you, evaluating and interpreting your every move. You have just a few minutes to make a first impression – and you know that this has to count. This was the m-o-m-e-n-t yesterday, as aptly described by the CNN article when a relatively unknown Archbishop from Argentina was named Pope.

Of course, this is a totally different level altogether from an entrepreneur pitching in front of an audience of investors – in many ways it is simply not comparable (with one big factor being that the entrepreneur may have spent endless nights perfecting his pitch while the Pope – well, he may still be coming to terms with the fact that he life has dramatically changed forever before he addresses his audience). However, as I watched the whole episode live on television yesterday, I realized that in those brief moments there were some valuable nuggets which each entrepreneur (and for that extent anyone) could use. This is what I would like to analyze and share today. If you haven’t already watched it, then I would urge you to do so (NBC has a full slideshow, and so does the NYT among many other news services) – the points below would make a lot more sense

1. If you hesitate at the beginning don’t fret – it is only human to do so in what may be an uncertain (and perhaps unfriendly) environment. But do genuinely try to reach out to your audience. When Pope Francis emerged, he definitely would have known that the people were still scratching their heads to figure out who he was. His first gesture was that of a slight hesitation, but followed through with a friendly wave. This was a far cry from the clasped hands of past Popes; it was more a down to earth, “hello there” gesture which connected with the teeming masses gathered below. If anything – it served to break the ice.
2. Understand your audience and address them appropriately – this is genuinely difficult to do if you are trying to address the entire world. But his use of Italian (instead of the more archaic Latin) and simple, well paused sentences allowed him to directly reach out to the people. Entrepreneurs could well learn to keep language simple, be direct and to the point rather than ramble on. If thoughts are complex – make them simple. People understand SIMPLE far more than anything else – although many would love to believe otherwise
3. Be watchful of the unspoken word – inasmuch as people pay attention to what you say, they also pay attention to your non-verbal communication. This is not only important for your audience but many a time equally important for your employees. The Pope’s display was simply masterful here – upon entering he insisted on being on the same level as the other cardinals, rather than on an elevated platform. This and his choice of clothing, preferring a simple white garment compared to the deep red vestments sent a clear message to his own. In a company, this type of message can be critical – maintaining and boosting employee morale when they see their CEO among them, rather than choosing a helicopter status.
4. Get your audience engaged and excited about what you have to offer, be genuine and passionate about it. People can and will recognize a smoke-screen. As it has been said, you can fool a person only so many times. Here the Pope did work the crowd in his own inimitable way. He made a small joke, but more importantly asked the people to pray for him before he blessed them. Remember, here is the guy who for Catholics is God’s CEO on earth – he should be the guy blessing them, but is humble enough to ask people for their prayers. This simply captivated the audience. As an entrepreneur, do recognize that you may not be the best at everything, you are talking to investors or other people in the audience because you need something. Being sincere and humble about it is important. The right people can understand and appreciate that.
5. Always thank your audience – if there was a parting master-stroke this was it, when the Pope requested the microphone after the announcement and thanked the audience for coming and wished them a good night. Remember, he didn’t need to do so – they were there of their own volition. But in reaching out once again, even if they forgot what he had said earlier they were left with a warm and positive impression in their heart. An entrepreneur could well keep this in mind, even though your audience may have come to invest in you and seek returns, still they are taking time out from other things – even if it just for 5 minutes to hear you. And even though they may be interested in investing to seek returns, there are few who will invest if they don’t like the person. You have 5 minutes to make yourself likable – make it count.

This is pretty much what I could gather in a nutshell, perhaps there are more. Although none of what I have written is new or rocket science, just seeing it in action was nice – as for me I was left with a nice and happy feeling in my heart.

If I were an investor – I would have invested in him!

Fools rush in – funding of ‘pie in the sky’ startups

Over the past few months, in the course of advising a couple of startups I’ve had the unique opportunity to interact with an gain insights into some of the firms in the Berlin scene. Many of them seem to share two to three commonalities –

1. its all around ‘social’ and community without much about as a hoots care of how to monetize; the thinking seems to go like this – we should just try to acquire users (this is especially true for web community startups), show some obscene growth patterns and lo and behold we will be acquired a la Instagram and then become insanely wealthy OR
2. will take a tried and tested brick and mortar industry and make an online avatar of it; the thinking is – everyone will suddenly change their buying patterns and buy from me thus making me insanely rich OR
3. let me find the latest trend in Silicon valley, and create the European clone before the original creator can say ‘Europe’. Perhaps I will make a lot of money if the parent in USA buys me – and then… yeah you got it right, I become rich.

I don’t have any issues with (3) which seems to be the domain of the few VC firms who have the firepower to churn out these clones at breakneck speed. My current muse is with the first two, and more so to their financial backers.

When I personally look at business plans, I try to understand and analyze the underlying problem that people are trying to solve – with a close look on how people will monetize their solution. It is all and good to have a solution – but if people will not pay for it, you are out of luck buddy! And one cursory look at many of them is sufficient for you to realize that you may never see your money again forget making a fortune. Makes me wonder if these investors put in a lot of due diligence or are they simply hoping that they find the next biggest fool who they could pawn the firm to?

I personally prefer firms who have a solid, even if not exponential growth path with a clearly defined revenue – and more importantly profit generating path. Many of these firms are staid, do away with gimmicks, have dedicated founders who are interested in company building rather than the ‘get rich quick’ approach adopted by the others. They may not even operate in the ‘sexy’ web service domain, but whose products provide something of real value that their users cherish and pay for. More important, such firms do actually enrich the communities in which they operate – perhaps something that many firms should aspire to. In the end a single person can only handle so many social media interactions and apps – not sure at the end of the day if his or her life is better as a result of it!

Over the course of the year, if and when I discover such firms I would like to profile them on my blog. If you think you merit mention feel free to drop me an email/ respond and we can get in touch. To help my readers – if I have a vested interest in any of the firm I will let it be known upfront; so you will always be able to get the ‘real’ insight.