9 Tactics to Write a Killing Startup Pitch
Some people thrive while performing in public, whereas the others nearly faint at this idea. But, whatever kind of person you are, if you need a to give a speech in front of the investors you will definitely be terrified. However, you should understand that on the way you give this speech, will depend your whole idea and whether you’ll be able to realize it or not.
Of course, there are no win-win solutions to how to persuade the investors to separate with their money. But, luckily, there are some tips that can be useful for any new entrepreneur regardless the type of startup they want to launch.
So, let’s consider the following ones:
#1: Keep in mind the kind of audience you have
No doubt, that while talking about your startup you will try to show as much expertise on the topic as you can. But the truth is that there is no need for it. Before preparing for the pitch ask yourself: What specific kind of audience will be present? Are they technical or non-technical? If you are a technical guy, you should tailor your speech in the way that it can be understood by everyone. Inability to follow the needs of your audience will show that you aren’t flexible and can hardly adjust to the quick changes. What is, definitely, a big minus.
#2: Write an interesting story
It’s a well-known fact that a captivating story is listened and remembered for a long time. That’s why your pitch should be the same. Instead of a long and boring explanation, tell the investors about the way you found the idea, about your “Eureka” moment. Explain to the investors what particular problem your idea solves and how it can be used by the others.
#3: Use data to back up your words
Even if your pitch should sound like an exciting story, you shouldn’t turn it into a fairy tale format. Keep to the point. Use some numbers to prove what you are talking about. And, of course, no need to say that all the data should be taken from credible and trusted resources.
#4: Tell what is special and unique about your product
For sure you should be ready to explain what’s the key difference between your product and your main competitors. Remember one thing: Never say that your idea is unique! Let’s face the truth, in 2017 with all its modern technologies it’s almost impossible to come up with a revolutionary idea that hasn’t been realized by someone else before. If you say that you haven’t any competitors, it means that you weren’t bothered to make a market research or just don’t take your project seriously. Whatever the reason is, you’ll hardly get the investments.
#5: Prepare a nice pitch deck
This is the point where lots of people make the mistakes. Don’t try to put into your presentation all the information you have. Include only the crucial points like the key idea of your product, the market you are targeting to, business model metrics, information about your team. You may ask why is it necessary to bother about it? The answer is simple. Very often you’ll perform in front of the people that don’t make the final decision. Thus, your presentation is the only way to impress the investors you’ve never seen with your own eyes.
#6: Anticipate the possible question
After the pitch, you’ll be asked the additional questions. So, the best way is to think of the answers beforehand. For instance, you’ll be definitely asked the questions like How big the company can grow? What do you see as the potential risks to the business? and so on. To learn more about the FAQs, you can read the article 65 Questions Venture Capitalists Will Ask Startups.
#7: Remember about the time
An average startup pitch shouldn’t last more than 3 minutes. Don’t forget that you are talking to the business people whose time is money. So, it’s simple: more concrete you are, more seriously they’ll take you.
#8: Take care of your look
For sure, you’ve seen lots of successful entrepreneurs wearing simple jeans and T-shirts (let’s remember Mark Zuckerberg, for instance). But don’t forget that those guys already have their billions of dollars and they can afford being dressed as they want. However, when you are just at the very beginning, you should be more careful while choosing your clothes. A guy dressed in scruffy trousers and crumpled shirt will hardly make a nice impression. If you are looking sloppy, the investors will think of you like a sloppy businessman as well.
#9: Practice, practice, practice!
Before performing in front of the investors, practice your pitch. And do that more than once! Seriously. Practice it with and without the presentation. Keep in mind that those 3 minutes will be all that you have! So, leave the investors excited!
Anyway, the first and the most important thing for a success is to believe in your own idea and be passionate about it. If the investors feel that what you are talking about is all your life, they’ll fall into your project. And while you are preparing, we’d love to hear the examples of your pitch in the comments! Have a successful pitching!
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