In one of our previous articles we explained to you about what all you should keep in mind when you are about to pitch for your startup. VC’s are busy people they don’t have all the time in the world gathering information that will be of no use to them while taking the decision on whether or not they will fund your startup. They need crisp and clear facts and figures about your startup. In this article we are going to list out exactly what should be on your startup pitch presentation deck.
As Mark Twain said, “If I had more time I’d have made it shorter”.This should be your philosophy for creating a pitch presentation. Short sentences and graphics that keep the audience glued to every word you speak.
1. Introduction– In startup terminology your “Elevator pitch”. The slide should have your Startup name and the Elevator pitch. Keep it short, simple and attractive. Do not show all your vocabulary here, use words that are common and frame the sentence in a way that is catchy. Like “Book rooms with locals, rather than Hotels”, was the elevator pitch for Airbnb.
2. Problem statement– State the problem statement you are trying to address. If there are multiple aspects of the problem that you want to highlight, make short pointers. leave the rest to your talking, interact with the audience and make them feel the pain of the problem. Airbnb’s problem statement was:
- Price was a concern for travelers booking online
- Hotels leaving people disconnected from the city and its culture
- lack of a way to book rooms with a local Or to become a host
3. Present the Solution- On the slide, very briefly/or with the help of pictures, explain how your product/service is tackling the problems you stated in the slide 2. Airbnb said-We have a web platform that where users can rent out their space to host travelers in order to-
- Save money when travelling
- make money when hosting
- Connect to the city and its culture
4. Stats for market validation and size- As we have been emphasizing, you need to validate your solution and confirm that there is a market ready for it. An investor will never put his money into something that is going to have no return/has no market currently, unless he is an angel sent by God just for you! You will also need to give out facts about the market size based on some genuine sources. Airbnb stated that there were 630,000 users on the existing temporary housing site, but just 17000 temporary housing listing available. It also stated that there were 1.9 billion trips booked worldwide, serviceable available market was 532 M and their own market share was projected as 10.6M
5. Product description/ demo( preferably) – this slide should describe a simple workflow for your product, just as much as will fit into one slide. This should be followed by a quick demo of the product. The Airbnb slide had three screenshots of how to search by city, review listing and book a room.
6. Business Model – This slide should talk about how basically you are going to make money for your self and for your investors, it can be something like a commission on every transaction that happens through your platform, the product/service that you will be selling to the clients etc. Again, your slide should have the figures, you do the talking part. The Airbnb slide simply showed, the number of trips made via their platform, average ticket size and thus the revenue.
7. Market Adoption- Your “Go to the market plan” is the content for this slide, how you are letting people know about your startup offering, be it events, promotions, partnerships.give some figures and facts about these. Make sure that go to market plan is in sync with your target audience. Airbnb stated Events, Partnerships and Craiglist as its go to market plan.
8. Competition- As we have been emphasizing in past as well, knowing your competition is a strength for you. List out your competition on the basis of various factors like pricing, features, business model etc. In continuation with this you should be listing out your own advantages over your competition, it can be a patent among other things ! Airbnb listed out competitors on the basis of Affordability and Online presence of their competitors and for its own self – talked about being first of its kind, bringing in new features like hosting, ease of use etc.
9. Management team- Talk about your management team, the key decision makers in your startup. Doesn’t make a difference of the team structure is not the perfect one, but the investors should know about who the top layer is. If the people in your management team are well known faces in the industry , feel free to move up this slide to number 3 or 4.
10. Your milestones and use of funds- Present a timeline for your startup which covers all major milestones, also what the future goals are. Also list out the funding you need and what you plan to use it for.
Quick tips for presentation:
- No more than 10 slides, unless you want people to sleep off
- Lesser the number of slides more time you get to do the talking on each slide. Average attention span for humans is 20 min, remember this!
- Use big font, keep the text to a minimum.
- If its text heavy, the audience will start reading it and be out of sync with what you are saying.
- Use infographics
- Interact with the audience