Most founders treat the sales pitch as a slide-by-slide tour of the positioning doc. That is the failure. Positioning articulates what you are and why it matters. The sales pitch is a sequence that walks one human through their choices and lands them on yours, inside a single short call. The leap between the two is bigger than almost anyone expects, and skipping it is why a sound positioning doc still produces a flat sales conversation.
Dunford's structure has two pieces, and they are deliberately not equal. The first is the setup, which is not about you. It is about the market and your point of view on it. The second is your differentiated value, the why-pick-us part, and it gets the bulk of the call. The setup earns the right to make the second half land. Spend a few minutes there, then move to the meat.
On Lenny's Podcast, Dunford described the split directly:
Said plainly: build the setup, but spend your time on differentiated value. The pitch is a structure, not a feature list, and it inherits its content from positioning rather than replacing it.