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6:11 pm
September 6, 2010
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wspademan
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As organizers, we need to be able to present a compelling case for Common Good Bank verbally in just a few words. Then, as the conversation unfolds, we also need to be able to present detail in manageable chunks, without introducing unnecessary complexity and without overwhelming the listener. We call these verbal paragraphs "elevator pitches" — something you might use in a conversation with a stranger in the 30 seconds you have with them, in the elevator.
In this "Elevator Pitches" topic, we will propose and discuss pitches that we develop, with the intent of improving our ability to get people to buy in (with time and/or money).
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7:26 pm
March 15, 2011
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Ben Schawinsky
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Post edited 7:57 am – March 16, 2011 by wspademan
wspademan said:
What is the best way to describe ourselves?
In a time wherin so much is in turmoil with resulting uncertainty, establishing a local and growing economy is an idea who's time has come; one that relies on the interaction between you and your locale and establishes a growth and viability that can only enhance our quality of life in so many ways.
In the face of slow and constant inflation and in this time of uncertainty we are building something that brings stability to our locale, by creating our own economy. OR - by establishing a local economy with, by, for and amongst ourselves.
As you consider the economy here in the U S and worldwide are you finding or feeling a sense of stability?
Were you to give thought to the economy here in the U S and worldwide do you come up with a sense of solidity?
Were you to consider the amount of interest garnered by financial institutions would a local economic idea, one that includes low interest or possibly fees only, be of interest to you; one wherein we would create our own stable economy?
THE BUCH STOPS HERE
COMMON GOOD ECONOMY
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6:47 pm
September 22, 2010
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rjones
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Post edited 12:18 pm – September 23, 2010 by wspademan
I would like someone to write an Elevator Pitch that explains why we need to ask people for the money we are asking for. I need to see again what things we can say and what things we cannot say about raising money for the CGB start up.
Also, please comment about how the money is to be used.
Thanks,
Randy 
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6:44 pm
September 22, 2010
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rjones
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Post edited 12:18 pm – September 23, 2010 by wspademan
Common Good Bank in a nutshell.
I'm a person who believes in economic fairness. I don't think it's fair when bank executives reward themselves with billions of dollars which come from the blood, sweat and labor of millions of other people. Common Good Finance is all about changing this picture! It is committed to economic fairness, transparency, sustainability and democratic principles. It is an entirely new kind of bank that combines the spirit of a credit union with the power and flexibility of a community stock bank. The power to decide what this online bank will invest in and how profits will be used resides with the ordinary member-shareholder at the bottom, not the President of the bank and or other bank executives. It uses a "bottoms up" rather than a top down approach. By-laws require that all profits will be channeled to other non-profits like schools, artistic projects, or social service agencies. The amount of profits to be shared is based on local banking activity so the more people who participate, the more local and other non-profits will benefit. Each member-shareholder gets to vote on what kind of things should get funded. The voting system is electronic and easy to use. Anyone can vote using a computer or even a cell phone. The bank will also be a full service bank with free checking, debit cards, and ATM access. Interest rates on savings accounts will be competitive and the return on stock is intended to keep up with inflation.
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11:57 pm
September 6, 2010
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Richard Todd Chinnock
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Post edited 12:30 pm – September 7, 2010 by wspademan
So I had an interesting convo with a LONG time friend who is a pretty hard-core fan of keynesian economics (Adversary! *chuckle*). He is a computer science major who plays around with his AI program in his spare time, so to him it's all about system management. All my previously successful pitches didn't work, BUT this one did (At least I got a "Fair enough, you may be right"……FINALLY!)
Or something to this effect:
We agreed that money isn't actually wealth (Accounting system). Then we came to agree that bankers are service sector and not actual industrialists (People who manufacture actual "wealth")
Common Good Bank takes the fact that Bankers are service sector employees into account as well. The executive pay for CGB employees is between 50th and 75th percentile, around 20-25 bucks. Think about that? what would your typical CEO at citi make a year? 20 mil, 50mil, 100mil? That's a HUGE chunk of change that in a CGB system would go straight back into our local/global economy. We are paying these guys so much cause we think the service of managing the distribution of money is so important, but then they don't distribute it! The gap between classes is ever widening. The scientific proof is staggering in it's amount. We need to put a stop to this unfair distribution method and CGB with it's democratic economics can do that.
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6:44 pm
September 6, 2010
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wspademan
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Post edited 12:33 pm – September 7, 2010 by wspademan
Rick and Eric,
These are great pitches. Keep in mind though that most of our communication (and probably our most effective communications) will be in person, on-on-one, and SPOKEN, not written.
We will also be most effective when we can engage the other person. So we need to listen — probably more listening than talking.
My ideal conversation goes something like this:
OTHER: "What are YOU up to these days"
ME: "Starting a bank for the common good."
OTHER: "a what?"
ME: "Common Good Bank. The idea is that we in our community own the bank, so we get to set the lending priorities and decide how to use the profits for the common good."
[long or short rant by the other person about how our current system fails]
[short response by me (specialized elevator pitch) about how the Common Good Bank system will address that problem]
[repeat for a while: rant/response or question/response]
ME: "So would you like to be a Founding Member/Owner?"
OTHER: "Maybe. What does it involve?"
(Etc.)
I use the elevator pitches mostly (1) as a very short statement of the concept and (2) as answers to questions and concerns.
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6:32 pm
September 6, 2010
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wspademan
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Post edited 12:19 pm – September 23, 2010 by wspademan
Eric Krawczyk says (by email):
Here's my analyzed pitch from the Harvard Business School link that Karen Ribeiro provided us. It said there are 284 words, it would take 71 seconds and has 39 repeated words. Their average pitch recommendations are 231 words, 56 sec and 4 repeated words.
I am a school and professional counselor and called to care for God's creation. In the last 2 years, I've been unable to find a bank who's democratically empowered enough to finance the construction of my unique sustainable home. I'm now pioneering an economic model called a Common Good Bank™ as the framework for a community-based democratic economic system that competively combines the spirit of a credit union with the power and growth potential of a stock savings bank. It takes investment decisions away from the big banks and the distant corporations and puts it back where it belongs, in our own hands. Without economic democracy, we are at the mercy of someone else's whim. In a Common Good Bank system we each have a say in our own destiny. Economic democracy empowers us to fulfill the original vision of all democratic societies, to be truly for the people, by the people. Common Good Bank is the framework by which we can plan and decide together how to create lasting wealth and where our priorities lie—community by community. Are you for sustainable agriculture and energy systems, for local self-reliance? Or perhaps you simply want to make sure everyone has enough to eat, a home, and satisfying work. We are looking for founding members to contribute to all three stages of startup financing: with a donation, a loan, and an investment, at whatever level works for you. As a Common Good Bank Member, YOU own the bank. YOU decide what your bank should invest in locally and how the profits will be distributed for the good of all.Any community can participate with as few as 50 Members. Would you like to consider becoming a founding member?
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6:25 pm
September 6, 2010
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wspademan
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Post edited 6:26 pm – September 6, 2010 by wspademan
Rick DeVoe says (by email):
Here's my current offering – I like much of what you're each coming up with (I got the idea of asking questions from you, Todd.)
To consider Common Good Bank, you have to ask yourself a few questions first:
Who runs the country? Who runs the economy? Do you have any meaningful say – even in your own community? Can we actually say we live in a democracy if we have no power?
For the change in society we all seek, we really only need two things: we need each other, all of us who are concerned about the common good – and we need money.
Well, we all have bank accounts – that's a huge pool of money – but none of us really have any say as to how and where it's invested. Way too much of the time those decisions are made by people whose sole interest is profit, with little or no regard for us or our communities. In fact, much of it can not even go by the name of "investment," because it's spent on pure speculation on things like currencies and derivatives.
Common Good Bank takes those decisions away from the big banks and the distant corporations and puts it back where it belongs, in our own hands. After all, its our money.We can do it because we own the bank and we've agreed amongst ourselves that all of the lending we do and all of the profits we gain will be dedicated to the common good of all. And we'll each vote on the priorties together.
I'd love to tell you more when we have more time, but that's it in a nutshell. The amazing thing is how Common Good Bank creatively blended the credit union concept with the clout of a bank to make this all possible.
Here – I want you to have this brochure with my contact information, it includes a description of who you can help. Can I get a way to contact you?
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6:24 pm
September 6, 2010
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wspademan
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Randy Jones says (by email):
I would just switch these two sentences.
"Without economic democracy, we are at the mercy of someone else's whim. In a Common Good Bank system we each have a say in our own destiny."
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6:23 pm
September 6, 2010
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wspademan
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Every situation demands a different style. For example, a presentation to a room full of people demands a different style than a one-on-one. Fluidity is important in almost every situation, because you never know what people are going to ask this time.
By the way, I am an engineer, by training. I have found that nearly every engineer I have talked to about this Common Good Bank idea gets it immediately — including even the most confusing parts. I have learned to talk to normal people, but I still think like an engineer, so the way I look at things doesn't always click with people. That will be a challenge for all of us — learning to talk to people in THEIR frame of reference.
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6:19 pm
September 6, 2010
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wspademan
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Karen Ribeiro says (by email):
Todd’s comments are great – as these modifications can increase
the likelihood of rich engagement with each person or group.
The exercise of writing one elevator pitch can be
collaborative, as in tweaking William’s pitch as we’re doing here, or can also
be an individual effort which can be very valuable for identifying each organizer’s personal take [on a subject].
Continuing in the collaborative vein, I am inclined to add the
word “original” in this phrase: Economic democracy empowers us to
fulfill the original vision of all
democratic societies…
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6:17 pm
September 6, 2010
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wspademan
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Personally I use a different pitch every time. I keep experimenting, to see what works. Different words work for different people.
And I think the EXERCISE of developing a pitch is more important than the pitch itself, so that we get more fluid in our ability to pitch CGB membership.
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6:16 pm
September 6, 2010
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wspademan
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Todd Chinnock says (by email):
"Without economic democracy…"
Comment: I like how it starts out with pointing to the lack of democratic economics and why it is bad. I feel like it puts it in a context of a need which is true and motivational
"Economic democracy lets up look at our whole situation…decide together what our funding priorities should be…"
Comment: To me this is where the pitch could use some more fiddling. "Economic democracy empowers us to fulfill the vision of all democratic societies, to be truely for the people, by the people. Common Good Bank is the framework by which we can plan and decide together how to create lasting wealth and where our priorities lie community by community. Are you for sustainable agriculture and energy systems, for local self-reliance? Or perhaps you simply want to make sure everyone has enough to eat, a home, and satisfying work."
brainstorming here so don't take it hard and fast
thoughts?
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6:14 pm
September 6, 2010
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wspademan
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Here (roughly) is a pitch I used recently, with success:
Without economic democracy, we are at the mercy of someone else's whim. In a Common Good Bank system we each have a say in our own destiny. Economic democracy lets us look at our whole situation at once, as a community, including the funding piece — so that we canplan and decide together what our funding priorities should be – for sustainable agriculture and energy systems, for local self-reliance, and for making sure that everyone has enough to eat, a home, and satisfying work.
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