We’ve all heard of the ‘elevator pitch' before. It’s essentially a 30-second window for you to completely change your life. No pressure. While pitching your startup may seem like a horribly daunting task, much of it comes down to clarity, knowledge, and confidence.
Read on as we share how to grasp an opportunity that comes your way, or make most of your next networking event.
The One Liner
If you’re in a real elevator-like situation, a sentence could be all you have time for. This means you need to immediately communicate the essence of your pitch, or the value proposition of your startup. In most cases, this will be revealed through how you’ll solve the problem at hand.
Audience / Market
Okay, so you have the person in an immobile, contained area. Now is the time to go a little more in-depth with your pitch, or begin to support your statements with the scope of your knowledge of the market, technology, traction, etc.
A compelling story always helps, but steers clear of clichés and overused industry buzzwords. If there’s enough time*, let your product speak for itself by showcasing its features.
Your story / How you got to where you are today
Successes so far / Milestones
A Real Meeting
Okay, you’re almost there. You’ve setup a proper meeting, which means you actually have time to put together a proper deck, and really go for it. Now is the time to talk money, and get into the nitty-gritty of pragmatics, logistics, etc.
With time on your side, you can begin to support your statements through a proven track record through figures. More importantly, allow the investor to see the bigger picture by detailing a growth plan, and exactly how funding will put you on track. A comprehensive and developed investment plan is a determinant factor for success, and is the thesis of your pitch.
Customer acquisition / Marketing strategy
Revenue model / KPIs
Financial projections / Budget scenarios
Investment plan / Funding needs