Before we move to what you should keep in mind while giving the pitch about your startup, it is very important that we understand what a pitch means.
Pitch literally means a line of talk that attempts to persuade someone or something, with a planned presentation having strategy of a product or service designed to initiate and close a sale of the product or service.
This is a very crucial and tough phase in a startup’s journey. To begin with it is important that you know your business plan very well, because, be it your first angel investor or a potential co-founder, they will believe in your plan only when they are sure that you believe in it completely. They will buy into your dream and help you achieve it. Parenthetically, it’s not just the ‘Big Idea’ that everyone is looking for, but lots more than what meets the eye. Let’s try to understand what exactly they are looking for, in you.
- You as a founder should be clear about what is the problem that you are looking to solve through your startup. Hence, you must be ready with the startup story that highlights the real problem statement with emphasis on what motivated you to get yourself involved in solving the problem.
- Once, the first parameter is measured, they will further try to gauge your passion for the project. To build a startup might sound exciting, but the truth be told that it takes a lot of passion to make your startup a success. It definitely is a tough road ahead and only people who are passionate about their dream are prospects for success. Your stakeholders – whether they are the investors or your team – all love to associate with a passionate founder who can sell a dream.
- The next important thing to keep in mind before pitching your idea is to understand where exactly your startup excels. This is exactly the feature which can become your USP in near future, hence, exhibiting excellence in preferably one of the key areas, for instance, customer experience, process, technology and product among others – can work to your advantage.
- KPI metrics is very important tool as far as your startup pitch is considered. Showing an early traction one of the most important keys. However, early traction should not be confused with only top-line growth. Metrics such as customer satisfaction scores, repeat rates, etc. are all very important statistics. These are the statistics which validate the power of your solutions.
- You should work at creating a favourable impression and a spark of enthusiasm about your startup through your pitch. This gives a positive vibe about your venture and makes people interested in working with you.
- Other successful startup pitch elements are an assurance about positive office environment, work culture and manpower development among others. This reflects great on your venture. In addition to this it is very important that the founder is well networked and should be good with handling and using media and PR agencies in order to get his business noticed by masses.
Once you work on the above points, your pitch will definitely be fruitful and your startup will be noticed by the right people. Hence, it is very important that you have a clarity about your venture.