Empower 2006 got off to a bustling start with an edgy and informative keynote presentation from Dave Anderson, founding partner of the venture capital firm Supply Chain Venture. As managing partner of Accenture’s Supply Chain Consulting Practice, Dave practically defined supply chain and management practices. In his more recent role as VC, Dave hears hundreds of pitches each year from supply chain and logistics technology and services startups.

Dave shared his insight, experiences, and secrets with a rapt audience of supply and contract management executives in his keynote address: “How to Make the Perfect Pitch for Any Supply Management Initiative.” Here are Dave’s ten simple rules to ensure a successful initiative from proposal through implementation:

1. Know your friends and enemies.
Dave reminds us; keep your friends close and your enemies closer. Make lists, gain the confidence of friends and track the movements of enemies. Network among supporters and adversaries alike to keep track of wind changes and potential road blocks.

2. Clearly define your value proposition and business plan.
You will be using your value proposition to convince senior executives that your project is worthwhile. Avoid offering too many of the details too soon. Focus your pitch on the key benefits of the opportunity such as revenue, profitability and reduction in costs.

3. Credentials - you better have lots of them!
Dave cited one of the major failure points among entrepreneurs as not matching their great ideas with equally great credentials. He recommends seeking out experts to serve as advisors on all major fronts of a plan (e.g., executive leadership, product functionality, training, etc.) and meeting with these groups at critical decision points to provide input and guidance. 

4. Why an elevator pitch is critical!
A 30-second overview of your business idea could be the deciding factor in whether you receive executive support or critical financial backing. Craft a succinct explanation of the opportunity that states what you’re planning to do, who’s on the team and how the project will improve your competitive position. Be ready to deliver your elevator pitch at any moment. Practice makes perfect.

5. Prepping the Players
Once you’ve assembled the players, become the coach. Keeping your team informed and motivated is key. Focus on communication and executing against the original business plan. Plot regular milestones, but prepare your team for the long haul.

6. Finding the Big “No” Early
Identify any major issues that need to be resolved before the deal can be done. Resolve them early in the process or risk having to renegotiate, or at worst, lose the deal. Poll the stakeholders, brainstorm with your team and evaluate past behavior of management to uncover potential pitfalls.  

7. It’s all about the pizza, not the delivery person
Project managers get carried away and sometimes begin to think that they are the raison d’etre for the project. Don’t forget the business plan and the tangible benefits you sold to management. That’s what everyone is waiting for. Keep your ego in check, avoid micromanaging and seek criticism from trusted friends and sponsors along the way.

8. Socializing your friends and enemies
Begin communicating with friends and enemies immediately. Regular conversations over breakfast, lunch and dinner will help you stay on top the concerns and expectations of all interested parties, including internal staffers and executive sponsors.  Use these meetings to influence the ‘culture’ of the project. The best kind of project culture is one of constant and positive achievement

9. Selling the Deal
Every project may be cancelled at any time. Deliver frequent reminders of how important the project is to reaching corporate goals. Include tactics such as a monthly newsletter or information kiosk in your business plan. Check in regularly with key sponsors to make sure they remain sold on the deal.

10. It’s all about the process, not just the presentations
It’s not over ‘til it’s over. Construct a business plan that offers some flexibility to deal with unforeseen issues. Build 20 percent into project costs, and remember that you need money, time and the support of your team and sponsors until the very end. Deliver regular value throughout the project to keep interest levels high until the final objective is met. Dave has compiled his secrets to making a perfect pitch into a white paper, which is available for download here.