15 Tips for Creating an Incredible Startup Pitch
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Transcript of 15 Tips for Creating an Incredible Startup Pitch
A N E X PE RT S E XC H A N G E G U I D E
Tips for Creating an Incredible Startup Pitch
15
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
1 LEAD WITH THE NEED
Grab their attention!
The beginning of your presentation sets the tone for the rest of the
meeting. Investor skepticism can be easily mitigated by immediately
establishing that your product addresses a gap in the market.
If your pitch doesn’t articulate both the need for your product and how
your product f ills that need, we have two words for you: hard pivot.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
2 KEEP IT SIMPLE
Your presentation should be easy to understand, well organized and free
of complicated numbers or highly technical terms.
Going into detail about your development platform takes time away from
demoing your product (and will likely bore your non-technical investors).
Often, big numbers confuse listeners when not paired with proper
visual representation, which leads us to our next tip...
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
3 VISUALS MATTER
If your market research includes big numbers, compile that data onto
a clean, professional piece that you can pass out to investors while
you’re speaking. This is your chance to show you’ve done your research
and are a polished presenter.
At the very least, make sure you write out the largest numbers in your
presentation deck so your audience can visualize the data as you
discuss it.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
4 CUSTOMER VALIDATION
By the time you’re ready to make a pitch, be sure you have received
feedback from potential customers.
Tell your investors how you incorporated customer feedback into your
overall product development, they’ll want to know the product has an
addressable market.
Perhaps the biggest piece of information to include: how much potential
customers say they would pay for your product. Investors will ask that
question regardless, so you might as well offer up the information.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
5 DEFINE A BUSINESS MODEL
This sounds like a no-brainer, but many people think that an interesting
product is good enough, and f inding ways to make money can come
later. Unfortunately, that’s only true for a select few.
The more money you make, the more money lands in the pockets of
your investors. Advertising revenue or charging $1 for an app is better
than nothing, but you’ll need to think long-term. Investigate how your
company can generate recurring revenue or target enterprise clients
with deep pockets.
6 KNOW WHEN TO SHUT UP
After you’ve given your pitch and investors are done asking questions, it’s
probably okay to interject one more thing about your product you left out
of the initial pitch. However, it is not ok to introduce f ive more things you
want them to know. If there is that much more left for you to say, your
pitch was probably lacking in the f irst place.
Your best course of action here is send a follow up email and hope for a
second meeting. For the next time, be sure to revise your pitch to include
those additional items, you’ll thank yourself later.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
7 DON’T GET DEFENSIVE
Investors are going to ask questions and make comments about your
product – that’s their job.
While you might not like what they have to say, it’s important to keep
your voice at an even tone when responding. Be sure to evaluate if it’s
even necessary to respond to their comments, sometimes it’s best to
just listen and take notes.
If you don’t have an answer to their question, don’t try to evade it (they will
see right through you), simply say something like “I didn’t come across that
in my research, but I’ ll be happy to follow up with you about that via email.”
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
8 TALK ABOUT MARKETING
Marketing can often be considered a dirty word, but the truth is - it matters!
One recurring question we heard at various Startup Weekends was “How
do you plan to get your product in the hands of your customers?”
Think long and hard about this question beforehand and be sure to
incorporate an answer into your pitch or be ready to give a thoughtful
response when asked.
A good place to start is to investigate the marketing strategies of
potential rivals or companies with similar business model, chances are
their tactics will be learning lessons for you as well.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
9 BR AND YOUR PRODUCT
Sure, you have a logo and a website, but have you thought about the
type of personality your product or company might have? This greatly
inf luences how your customer base will interact with your brand.
If it targets enterprise clients or c-suite executives, you might need to
stick with a professional tone. On the other hand, a product focused on
students could use more playful language to describe its features.
Identifying your product’s voice and personality should be a fun exercise
in understanding how to differentiate yourself from the pack.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
10 USE HUMOR
Public speaking is commonly listed as people’s biggest fear. As the
presenter, it’s your job to overcome this fear! However, with your livelihood
and big idea on the line, the situation can become all the more terrifying.
Harness your fears to your benef it - it’ll give you that conf idence boost
you deserve.
Often, incorporating a few (appropriate) jokes into your pitch will help put
you and your audience at ease. Laughter really is the best medicine!
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
11 DISCUSS THE LEGAL STUFF
This is particularly important if your product has deals with sensitive data
or could directly compete with a litigious group of people. Do your
homework before opening yourself up to criticism from potential investors.
Identify potential issues early on, do your research and inform your
investors of why legal problems won’t be a problem. Trust us, they won’t
touch your product with a ten foot pole if they think otherwise.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
12 ESTIMATE GROW TH
Yes, this is different than talking about your business model.
Investors want to know how much money you think you could sell your
product for and how many people you think you can get to use your product
within the f irst 6 to 12 months after launch. They may phrase a question
about the latter by asking “How many people do you think you need to have
using your product to reach critical mass?” Think hard about your answer,
run some numbers and be realistic.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
13 LEVER AGE SOCIAL
Would your product integrate well with Facebook connect?
Do it!
Are you planning to market your app via specif ic social channels?
Tell potential investors about it!
Riding the coattails of a well-established social audience that likes to
share new products is a big plus in the eyes of many investors.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
14 HAVE A TARGET
When it comes to a target audience, the more niche, the better – especially
if you business model includes a plan to make money by selling advertising.
Be sure to give specif ic details about your target audience and show
potential investors why that audience has an unfulf illed need for
your product.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
15 MOVE PAST YOUR MISTAKES
Fumbling over words might happen. Presentation glitches can get the best
of everyone. Getting tongue tied is inevitable. But rather than break up
the f low of the presentation to apologize, just keep going.
If you need to restate something, restate it, but say you’re sorry and don’t
admit to being nervous. Believe me, investors already know that.
15 TIPS FOR CRE ATING AN INCREDIBLE STARTUP PITCH
A N E X PE RT S E XC H A N G E G U I D E
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Tips for Creating an Incredible Startup Pitch
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