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12 October 2014

Sold In 60 Seconds: What Objectives Participants Achieved on Day Two of the Coaching Session

Sold In 60 Seconds: What Objectives Participants Achieved on Day Two of the Coaching Session

Our startuppers already know that it’s not enough to build an awesome innovative project — you also have to make the right people take notice of it. And some contestants still have to rework their presentations, over and over again: as they get new experience and knowledge during the coaching session, they begin to see the weaknesses of their own prepared speeches and presentations.

In all of the 90 minutes of his lecture, Alexander Lupachev quite possibly never stayed silent for more than 5 seconds, managing to hold the attention of his large audience. And business coach Elena Arskaya “exploded” industry tracks yesterday, winning the hearts of all startup entrepreneurs by their ability to present useful information in an unconventional, easy-to-understand way.

“I cannot evaluate the results of this training yet,” Elena admitted, “because it is still hard to me to understand at this stage whether the participants could take away what I gave them. But I had people lining up to ask me questions all through the day, and many even sacrificed their lunch time, so it was clearly very important for them to get answers to their questions. Today, I explained to contestants how they could “whet” investors’ interest, and tried to bring home to them the idea that they would do well to avoid going into technical details of their project and lumping everything together. Essentially, you have to “sell” your idea with only one sentence – your first one!”

Elena recommended to teams working on projects that involve complex production processes to base their presentations on real-life cases. For example, to avoid overloading investors with technical underpinnings of their idea, startup entrepreneurs can describe instead what changes a company that decides to implement the project would see in its profits.

“Investors have to understand the essence of your business first,” the business coach says, “and only then can you go on to discuss the benefits and details of your idea.”

Elena believes that about 80% of all participants got the essence of her ideas and are ready to benefit from them, judging from their reaction. The other contestants have chosen to use the contrarian tack as a matter of principle, and do everything their own way. The GenerationS Final is going to show who is right.
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