Raising investments for your startup can be challenging and sometimes frustrating process. As in personal life matching with the right partner can set a cornerstone for your future well being. Entrepreneurs are often tempted to settle with a first available option to them. We think evaluating all options carefully and focusing your efforts on engaging with the right partner is a key to at least short term success of your startup.
We are meeting many entrepreneurs with great ideas, but often we see that the lack of preparation and/or presentation skills puts them in a weak position in front of investors or customers.
Below we outline the common characteristics of the good pitch presentations, that we hope will help you to be more prepared when approaching fundraising process.
What you should cover in your presentation?
Purpose: Why are you here? What product are you building?
Problem: What problem are you solving? How is this addressed today and what are the drawbacks of current ways of solving it.
Product: How will your product help to solve the problem? What is so special about your product?
Market opportunity: Who is going to buy your product? Is there a market for it? Is it growing? Sometimes there is no market for your product so you need to create it.
Competition: What major competitors offer similar products/services? How are you going to win the competition?
Business model: How are you going to generate revenue?
Financials: 2-5 years financials including key assumptions
Team: Who are the founders and other team members? What drives you?
What makes a pitch appealing?
Tell a story: relate to your personal experience.
Be as clear as possible: the clarity and preciseness of the deck are more important than number of slides.
Be fact driven: provide factual statements
Make it understandable even for non-experts: don’t over complicate the slides, make it easy to understand
Use right visuals