Last week I was at the Entrepreneurs Summit at Crown. I wasn't there to pitch. I was there to watch: how the presenters pitched to a massive room, what their pitch decks looked like, what worked and what didn't. It was an information-gathering day.

At the lunch break I grabbed something to eat. A lady sat down in the same area, noticed my wristband and asked if I was at the conference. I said yes. "So what is it that you do?"

Without even thinking, I said: "I help startups and founders pitch their ideas for investment. I help them refine their ideas."

She got goosebumps. She said she was meant to sit at my table, because that's exactly what she'd been looking for. She moved next to me, took all my details and asked me loads more questions.

I wasn't expecting it. I didn't even realise I was pitching. But I was, and that one sentence did all the work.

Who are you pitching to? Everyone, all of the time

  • Customers: how good your product or service is and what it can do for them.
  • Employees: if you're hiring, why your business is the best place to come and work.
  • Investors: some you won't even know are investors.
  • Peers and partners: the co-founder, the marketing person, the tech person who builds your app.
  • Friends and family: and whoever is sitting at the next table.

You just don't know who's listening. Someone overhearing you might want to be part of your project, help you, buy your product or invest in it.

Meet Drunk Bob

Here's my favourite way to explain it. You're at a wedding, and Drunk Bob is at the bar.

Never underestimate Drunk Bob, because Drunk Bob's wife is a multi-million-dollar investor. Your challenge is to explain your business to Drunk Bob so clearly that when he gets home, he can explain it to his wife. And she might just look to invest in you.

The same goes for a 10-year-old. If you can explain your idea so a 10-year-old gets it, you've made it simple enough.

Cut the jargon and keep it simple

If you're in a room full of people from your industry, you might get away with a bit more jargon. But if you don't know your audience, or you don't know who you're talking to, simplicity is key.

Confusion kills opportunity.

I recently listened to 20 pitches back to back, and the ones I could remember afterwards were the simple ones. Be the person who stands out because you're easy to understand. Complicated things are hard to remember, and jargon makes them harder.

Start with Drunk Bob, then build up

You might end up with a Drunk Bob pitch, an elevator pitch, and a one, three, five and ten-minute version, all the way up to a half-hour investor pitch deck.

I strongly believe in starting with Drunk Bob and working up from there. Each time, you add a little bit more. You might end up with four or five versions, depending on who you're pitching to.

That one sentence can lead to a full investment pitch, or to another cup of coffee. The possibilities are endless if you can nail what you do without making it confusing.

So don't ever forget who you're pitching to, because they could change your life.