LBG

INNOVATION

THE CO STAR
VALUE PROPOSITION
The answer to the question every innovator has after coming
up with a potentially brilliant idea: “Now what?”

www.enterprisedevelop.com
 CO STAR
is a tool that enables innovators to clarify their thinking and bring out the full
potential of their innovative ideas.

CC OO SS TT AA RR
Customer Opportunity Solution Team Advantage Results

CO STAR ELEMENTS
A deep understanding of target CUSTOMERS/users is essential for developing an idea that will be relevant for them and offer value greater
than the existing alternatives. Bring your potential customers (end users, buyers) to life by capturing the unique nuances of their profile and
situation. Ask yourself, “Who are the ‘customers’ for my idea and what are their relevant interests, important problems, and unmet needs that
my solution will address?"

What’s the OPPORTUNITY that makes your idea possible? What is the size and full potential of the opportunity? Clarify why it worth
pursuing? What technology and trends support your thinking? How might you capture a bolder and more inspired vision of what could be
done?

What’s your SOLUTION for satisfying the identified needs and seizing the opportunity? What are the key ingredients and how does it work?
List any new technologies or intellectual property or novel aspects you are incorporating in your solution? Do you have an innovative business
model? What’s the estimated cost of your solution?

What strengths does your TEAM bring to increase the chance of your solution’s success? Or if you are just getting started, "Who needs to be
on your team to ensure your solution’s success?" What skills/expertise are required, e.g. subject matter expertise, technical, market,
communications, investment know-how? Consider your ecosystem of partners, suppliers, stakeholders and advisors as well.

What is your “unfair” competitive ADVANTAGE? How competitive is the space, and what are the available options to your idea (by name or
type)? There is always some form of alternative, e.g. the status quo. How is your solution superior to the alternatives? Avoid over inflating
your advantage or underestimating the competition.

What RESULTS will be achieved from your solution? What are the most compelling and quantifiable benefits to the customers/user from your
solution? And secondly, what are the estimated returns to your organization? Why should the organization invest in your solution? Address
any outstanding risks or trade-offs associated with the development or implementation of your solution.

www.LBGinnovate.com
Pitching Template

THE HOOK
Begin with a compelling question, fact, or statement that engages your audience

C Who is the CUSTOMER and what is their unmet need?

O What is the OPPORTUNITY?

S What is your SOLUTION?

T Who needs to be on the TEAM?

A What is the competitive ADVANTAGE?

R What RESULTS will you achieve?

THE REQUEST
Conclude with a specific request regarding next steps. A meeting? Resources? Staff?

© Enterprise Development Group, Inc.

WHAT’S THE CO STAR PITCH?
A short (1-3 minute) persuasive, easy-to-repeat story or value proposition
intended to generate interest and support for your idea.

"Before an idea can become great, its value must be understood."

Laszlo Gyorffy, Founder, LBG Consulting

INSTRUCTIONS
Use the template on the previous page to craft your three part pitch:

THE HOOK THE HIGHLIGHTS THE REQUEST

You want to get the attention of your lis-
teners with a short, compelling summary
that shows you have a unique solution to a
big problem. A typical start is a question or
statement such as: “What if...?” or Imagine...”
or “80 million people today suffer from...”
(numbers are always compelling), followed
by a single sentence claim about what you
have in mind to deal with the problem.
Select the relevant elements from your CO-
STAR Value Proposition. This is the summa-
ry of the problem and the opportunity, of
the unique solution you can deliver, and of
the results that can be expected from your
solution that far surpass the alternatives.
Conclude your pitch with a request for a
next step: What support are you looking
for? A meeting? Authorization for further re-
search or for creating a prototype? Money?
Time? People? Introductions to others?

TIPS

Build your credibility, and the “stickiness” of your idea by:

• Adapting your pitch to the given situation and your
• audience
• Telling a brief story or anecdote
• Using metaphors and analogies
• Offering facts and figures – quantitative information is persuasive. If you have no specific data yet, start with a “best guess.”
• Showing a diagram, displaying mock-ups or conducting a demonstration
• Sharing your passion.

Remember: When it comes to an elevator pitch, less is more. You are aiming to give just enough information to get people curious, get their feed-
back and get them to want more; to want to participate further.