Law 8: There is No Innovation Without Persuasion - Lorraine Marchand
A life sciences consultant, speaker, writer, and professor — Professor Lorraine Marchand is an expert at showing entrepreneurs how to communicate the value of their innovations to investors. She is bringing forth the key to innovation in her upcoming book ‘The Innovation Mindset’.
We are in an ongoing conversation with Lorraine to discuss the different Laws of Innovation she touches on in her book. Our discussions provide the audience with a sneak-peek into what’s to come, and how to obtain an innovation mindset. We’re now about to learn about the Eighth Law of Innovation.
Lorraine, we have almost reached the end! It has been great to get a preview of what your book holds. Tell us more about the Eighth Law.
“It was once said that ‘gentle persuasion succeeds where force fails’. Nothing holds truer in business than this statement. The idea might be amazing in your head. But convincing your audience to believe in it as much as you do — that’s the real challenge faced by every innovator. This is why the Eighth Law of Innovation talks about how there is no innovation without a compelling value proposition and a good dose of persuasion.
“So how can you make sure you have the killer pitch? The presentation that leaves the audience wowed, and gets you invited back to discuss dollars and cents? Whether you’re pitching angel investors, VCs, Private Equity, strategic partners or business development at your company, there is a way to prepare any pitch for success.
“I pitched several dozen investors to raise funds for my diagnostic set-up. By tailoring my value proposition to each investor and demonstrating that I understood their investment thesis, I increased my success rate exponentially.
“In this chapter we will examine pitch dos and don’ts, as well as great examples of pitches that went on to become funded projects. We even cover examples of businesses that resulted in some epic pitch failures that left some great potential innovations in the wastebasket, along with discarded slides and presentation boards. At the end of the chapter, I present the readers with a pitch template with instructions and examples on how to complete it so that their pitch sings.”
This will be such a great learning for many readers, thank you Lorraine.
