Alex Banks Profile picture
Oct 1 16 tweets 6 min read
Elon Musk is the master of pitching.

He's sold spaceships, flamethrowers and electric cars.

And his framework can be applied to any pitch.

10 simple storytelling tips to nail your next pitch:
Name the enemy

Musk immediately says "This is how it is today... it sucks!"

Start by naming the thing that's getting in the way of your customer's happiness.

It doesn't have to be Darth Vader or The Wicked Witch of the West.

Musk makes it fossil fuels.
Agitate the problem

"If we do nothing, this is where we are heading."

Musk shows that we're at a pivotal moment.

If we don't act now, things will get much worse.
Spark intrigue

"I think we should collectively do something about this."

The audience roars with excitement.

Musk shows a small blue square on a map of the US.

It's the surface area of solar panels needed to power the entire US.

Make your audience know where you're heading.
Offer the missing piece of the puzzle

"As most of you are aware, the sun doesn't shine at night."

What needs to be achieved to get to the promised land?

Demonstrate possibility by showing what needs to happen.
Show, don't tell

Musk plays an engaging 1 minute video of the Tesla Powerwall.

If you can't get in front of investors, record a short Loom video.

You get to record your screen and camera whilst giving a clear explanation.

Bring the solution alive and make it personal to them.
Sell benefits, not features

"It gives you safety, security and a complete affordable solution."

Cut in power – no problem
Snow storm – no problem
Live off grid – no problem

Musk tells the audience exactly how the Tesla Powerwall benefits them.

Not listing boring features.
Create urgency

"You can order the Powerwall right now on the Tesla website."

"Take solar panels, combine it with the Tesla Powerwall and never have to worry about electricity lines."

A solution that works wherever you are.
Build trust

Remove uncertainty from your pitch by giving a demo.

The camera cuts to backstage:

"This entire night has been powered by batteries."

Zero reliance on the grid.

If you're an early stage startup, use:

• Demos
• Customer feedback
• Testimonials
Demonstrate the potential

"The whole system is designed for infinite scalability."

"What's needed to transition the world to sustainable energy?"

160 million powerpacks – transition the US
900 million powerpaks – transition the world

"This is within the power of humanity."
Show your long-term vision

Don't pitch to raise money.

Pitch because you have never been more excited about what you could accomplish.

Musk shows that Tesla can't do this alone.

Receiving an investment comes as a byproduct of buying into your long-term vision.
Musk finishes by using the collective first person to inspire hope:

"This is something we must do, can do and will do."

Make them feel part of your journey already.

People don't like giving stuff up.
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I write threads each week, here's another I think you'll enjoy:
Help everyone master pitching and retweet this thread:
I'll let you in on a secret.

@Tribescaler helped me with the hook on this one🤫

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More from @thealexbanks

Sep 29
Sleep is the greatest legal performance enhancing drug that most people are probably neglecting.

–– @sleepdiplomat
Sleep was something I neglected for too long.

'Hustle culture' had me jaded.

I was struggling for creativity and I couldn't think why.
Yet the solution was simple– get more sleep.

I was skipping the golden nugget.

Rest is equally important as the work itself.
Read 6 tweets
Sep 28
Warren Buffett, Bill Gates and Elon Musk learn faster than 95% of the population.

Why?

They teach what they learn.

Explanation Effect 101:
You might think learning is about taking in information:

• Reading a book
• Watching a video
• Listening to a podcast

But the fastest way to learn something new is by teaching what you learn.
Peter Drucker once said:

“No one learns as much about a subject as one who is forced to teach it.”

When we learn with the intention to teach, we learn more deeply and efficiently.

• Chatting with a friend
• Explaining to yourself
• Conversing with a colleague
Read 10 tweets
Sep 26
I've seen 100+ startups fail.

The mistakes of first-time founders are nearly identical.

Here's how to avoid them:
1/ Solving a problem you don't care about

Many startups fail because they don't like the problem they're solving.

The team loses motivation as there is no deep connection to the problem.

Solution: Pick a problem you face personally
2/ Helping users you don't care about

Twitch started out as Justin dot tv allowing anyone to broadcast video online.

One of the core drivers of Twitch becoming a successful company was a reframing to video games.

Solution: Focus around a love for your users
Read 15 tweets
Sep 24
If you're asking a friend to review your work:

Instead of asking “what do you think?”

Ask “what’s wrong with this?”

You’ll receive the truth rather than a pat on the back.
Root cause analysis has been on my mind recently.

Especially gathering early feedback since launching @Tribescaler.

We had over 50 beta testers– knowing their pain points was vital.

The 'five whys' can help you understand the underlying cause and effect of a problem.
Example:

"I got a speeding ticket"

Why? (1)

"I was running late for a meeting"

Why? (2)

"I woke up late"

Why? (3)

"My alarm didn't go off"

Why? (4)

"My phone was out of battery"

Why? (5)

"I forgot to charge my phone"

^ Root cause.
Read 5 tweets
Sep 22
9 months ago I identified 20 of the most successful writers on Twitter.

I analysed their profiles, their content and their followers.

And in doing so, I uncovered a secret to their success:
When I began writing on Twitter at the start of this year, I would spend hours crafting content, only for it to sit in the dark.

What made great writers on the platform win?

Millions of impressions, thousands of likes.

Where was I going wrong?

Then it clicked.
The best content doesn’t get read, the best hooks get read.

Mediocre hook + Great content = Your content sits in the dark
Great hook + Mediocre content = Your content gets eyeballs
Great hook + Great content = The wombo combo
Read 10 tweets
Sep 21
Everyone talks about goals.

But systems are what win you the game.

6 steps to create your own life-changing systems:
Elon Musk said that Tesla doesn't make cars.

Telsa makes factories that make cars.

Tesla invests in building factories (the system) that makes building great cars (the result) inevitable.

A byproduct of the action. Image
They posted a blog article in 2016 about why their factories deserve more attention than their cars.

The factory becomes more of a product than the product itself.

• Move away from goal setting
• Move towards system building Image
Read 14 tweets

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