How to Talk About Your Competitive Landscape In Your Investor Pitch

“Oh we don’t have any competitors.” Um — yes you do — and it’s great!

“Oh we don’t have any competitors.”

When I hear that from a startup I know it’s going to be a painful pitch session.

On more than one occasion I’ve had to awkwardly show a startup a competitor that they’d never heard of, sending them to do some homework before working on their pitch. (Hey, better me than an investor!)

First, let’s get something straight — competition is a great thing! With no Jerry we’d have no Tom, with no Roadrunner we’d have no Coyote and then there’s the Microsoft/Apple, Samsung/Apple, Google/Apple rivalries that fuel the tech game and keep things fresh and interesting.

So how should you address your competition when pitching to investors?

1. Know your Landscape Inside and Out — Look under every tree and rock to find your direct and indirect competitors. Direct meaning they are doing something very similar to you and targeting the same audience, indirect meaning they touch on your target audience but solve their problem in a different way. Where do…