It’s difficult to get ears for your story and that too when you are seeking investment as a startup!
Hello and welcome!
Planning to start a business is itself the biggest of the challenges for the want-to-be-entrepreneurs. No one knows how the path to a dream discussed with college mates at a local café would reach the boardroom for seeking seed round investment.
It takes weeks and months of practice, editing, re-editing and re-creating the whole of the pitch dick until it reaches perfection.
Let me grant you some respite. Instead of you hunting for the hacks for creating a compelling elevator pitch deck, let’s begin learning the basics.
Here we go,
What is an elevator pitch?
An elevator pitch is a short, crisp and to-the-point description of what your business is all about, how will you solve the existing problem and what makes you appear different from your competitors.
As the name has in it, the time an average elevator ride takes in. Close to a minute, you should portray the best about your business, highlighting the most essential stuff, so that the investors are glued to your pitch and ideally, they want to hear more about your business.
Important Tips to keep in mind before crafting your elevator pitch deck –
Below, I have concluded the 9 essential tips that should be considered by startup entrepreneurs before go for the elevator pitch.
1) Identify your business goals – what your business is all about, what does it do and how will it help to solve the identified problem.
2) Clearly talk about your ask. Tell the investors what amount you are looking for and at what percentage of equity. Explain the terms clearly about the ROI.
3) Have confidence in your product or service. Your passion is the key to the investor’s mindset from No to Yes.
4) Show the investors that you can sustain for the long term.
5) Tell the investors why you require the funding and how you would be using the funds and where.6) State numbers that support your theory. Market size potential, market validation, traction, competition, and revenue (if made for the past year or say 6 months).
**Pro Tip – Don’t brag about numbers or overemphasize on the figures. Just stay relevant to appear realistic for the investors. The key is to make things appear positive and simple.
7) Include the client testimonials and feedback. Even if you have Beta tested your product, highlight the major findings.
8) If you have achieved phenomenal success in a limited time, include that too. Give insights about the accreditations received.
9) Clearly put up the type of investment you are looking for – is it the Seed investment or the Series A or Series B round of investment.
Over to you
Bonus Tips –
** At the end of your elevator pitch deck presentation, invite questions from investors.
** Sound relaxed, easy and conversational. Memorize the key data about your business. Appear realistic and natural. A robotic, all-cramped approach will keep the investors away from conversating.
** Give product samples, include demo or even it is an online service like a mobile application then include software screenshots. This helps in generating trust.
** Investors are keen in finding the market valuation of your business. Get this homework done prior to approaching any VC.
Few More Pro Tips –
**Add the source from where you have arrived at your business’s market valuation. Credit the source. Sound authentic.
** Talk about the challenges and how you would be dealing with them. It’s only YOU who knows everything in and out about your business. Prove that to your investors.
** Tell the investors about your passionate co-founders and team members.
** Paint a clear picture of the future milestones. Like 5 years down the line, 10 years down the line. Where you see your business is with the growing competition and how you will sustain.
We would love to hear your suggestions and feedback on this post. Do share it with your friends and even share your experiences in the comment sections below. Thanks for reading!
Goodbye and Good Luck for your future Elevator Pitch Deck Presentations 👍