Batter up… Pitch, Hit, Homerun!!
Pitching to investors seems like an incredibly daunting task, and to be honest, it kind of is. In one presentation, you can either make you company or stay exactly where you are. You have one chance to convince the attending individuals that investing in your start-up is worth it. But something I learned this past week that I didn’t know before was that the secret to a good pitch is in ten simple steps. Thinking of a pitch in this way really helped me to see it as a small goal instead of a huge one. The ten steps to follow in a presentation pitch made it much more approachable and made the first step that much easier.
I learned that a good pitch starts internally, focusing on the product itself. Detailing the niche that needs it and how you’re fixing the niche up by providing the product is a quick way to lay all the facts out there. I was impressed by the simplicity of the pitch format. Moving from the product specific information to the market and competition situation tells a sort of story that is easy to follow for an investor. This system works to answer their questions as they pop into their heads throughout the pitch. Moving from what the product is, the market and competition, and finally to long-term or the logistics of sustainability. Introducing the pitch in 10 easy steps made it a lot more relatable for me. It helped me understand that although the pitch can have a certain level of consistency from investor to investor, as long as the staple steps stay the same there’s plenty of creative wiggle room to customize it to each investor. Coming in I imagined a pitch would be an ever-changing thing, but this model is adaptable enough to be an evolving pitch.
Our strategy in our pitch is to really sell our secret sauce. That being the fact that we are a part of our key customers. We believe we have a good understanding of the market since we are a part of it. This aspect will have specific advantages in regards to differentiating ourselves from our start-up’s competitors. For instance, as a student, I don’t have the patience to figure out Yelp. It is a convoluted process with too many options to get to exactly what I want. It also will shoot out suggestions that are too far or out of my price range. Appealing to our market’s technological background, we hope to use the secret sauce portion of our pitch to make clear that this understanding of our audience will set us apart.
Welc’Home also plans on following the layout Morris laid out in his chat with us for many of the reasons listed above. It makes the Pitch deck approachable to start instead of a daunting project. Morris is also telling us this preference of pitch organization from his perspective, an investor’s perspective. We plan on heeding that advice closely. Another strategy we are using is on we touched on a bit in class: using a few words as possible in the pitch deck. I think a major strength of our team is that fact that we each hold our own in front of a room in a very different and unique way. This will come across appealing to investors because we a very diverse group of students all are passionate about what we are creating, and we all think it will be in high demand. Using our ability to sell the product in a completely different way will show just how diverse and necessary it really is.
Hopefully these strategies can pull on the investors’ minds and hearts and win them over.