How to start the pitch of your startup?
The pitch, or grand oral for startups, is intended to convince investors of the merits of his project in order to finance his startup. Any startup founder must therefore master the art of pitch. This is a real oral communication exercise during which the startup project must be presented to a panel of people to convince, and this in a very short period of time. To be effective a pitch must be magical, visionary and exciting. What are the rules to follow to get started in the pitch of your startup?
The 6 elements to take into account
There is no preset formula for achieving the ideal pitch. Nevertheless, before approaching your solution, it is essential to present the problem to be solved.
The identification of the problem encountered by customers. When this is defined, it is advisable to determine the market opportunities generated and the reality of the problem.
Are you able to explain your value proposition for these specific customers? It must be different from that of your competitors. Your value proposition translates into the solution you plan to implement to solve the problem of your future customers.
Also consider your timeline? Is your startup project always in the embryonic state of ideas? Have you already chosen your team? Have you defined your minimum viable product (MVP)? The goal of the timeline? Allow investors to have visibility on the evolution of your project.
Do not think in terms of “financing” but investment opportunities. Your objective is to explain to your future investors the reasons for your request for funding and how the funds should be spent.
If you are surrounded by a team. Present arguments that prove to be the ideal team to carry out your project.
To distinguish oneself
Presenting your pitch is not limited to being professional. It’s also about your ability to differentiate yourself from other startups.
You only have about 30 seconds to provoke a reaction from investors. Your introduction must be neat and worked. Be informative and inspired.
One pitch per presentation
To every investor you meet you must present a different pitch. Do not use a single pitch for all your interviews. Indeed, each investor has its own specificity, adapt to it.
Be concise and precise
The duration of a pitch is very variable. Remember, however, that you only have a short time to present your project. Go straight to the point, do not get bogged down in such considerations that you’ll run out of time to really present your project.
The art of pitch
Avoid involving different people when doing your pitch. Nevertheless, it is essential that the different members of your team are also able to pitcher. Your entire team must be trained and able to take over, in case of failure on your part. Here is the example of a successful pitch.
Treat PowerPoint Presentation
Choose a visual presentation to illustrate your point. Be careful, the latter must not replace your speech. Keep in mind that this is a medium for your presentation and in no way the actual presentation.
Investors seldom make a decision alone. Send them a concise document (no more than two pages) that arouses the interest of investors who want to know more.
The pitch test can be a complicated step to put in place. However, to succeed, you must be well prepared before your presentation to investors.