Changpeng Zhao, the CEO and founder of Binance, guides the budding entrepreneurs in a recent blog, about the communication titbits while approaching for business proposals.
Ideal Time and Place to Pitch New Ideas
Changpeng Zhao prefers entrepreneurs to contact his official communication team to pitch their business ideas rather than meeting him at conference places amidst crowds.
‘To the Point ‘Approach to Present the Ideas
CZ expounds that business proposal should be pitched clearly and directly rather than a vague and lengthy narrative. CZ adds that vague proposals get ignored most of the time and he prefers a direct approach in the very first sentence.
Whom to Pitch the Ideas
It’s better to approach the proper channels to get the work done efficiently and rapidly. He suggests approaching the company helpdesk for a speedy action regarding any grievances or to the specified department for any business proposal rather than approaching the top person of the company directly.
Open for new suggestions
CZ further explains his core interests and role in his companies. He is keen to hire the best team members for his company and personally takes an interest in doing so. He also keeps a tab of the discussions within the business community and embraces the potential suggestions to improve their products and services.
Elaborating more on what he expects while pitching ideas, he mentions certain points:
Pitching ideas precisely via pointers
For an efficient conversation, a point to point precisely written presentation is least misunderstood and is easier to perceive. Preferably, a single page pitch creates a good impression of a clear vision.
Graphical display of ideas might be tricky for a proposal and personally fancies him less. For a job application, he suggests approaching with a handy hardcopy of the resume.
Business card for Introduction
When one is meeting a person first, or even second time, he might not be able to recollect your name. So the best strategy is to advance every business to meet with a business card.
Pitch time ideally 5 minutes
For effective delivery of ideas, CZ insists that 5 minutes is more than sufficient for a new as well as old business contacts.
If one has to pitch someone, get to the point directly rather than lengthy and forcible introduction like a salesman. It also provides space to the front person to inquire more if he develops an interest in the very concept.
Pitching with Right Approach
As per CZ, he prefers an in-person meeting with the following approach:
- Business card introduction
- Direct to the Point approach
- Elaborating the benefits of the project directly
- A single page or single mobile screen proposal
Best Way to approach
Personally, CZ actively interacts with people on his twitter account, but he asks to fill the request form available on his company website to materialize any personal meeting requests.