The fact that you are reading this shows it: you know the importance of a good pitch! In the world of digital startups, it can easily be the difference between millions of dollars and not a single one. But you might also know: there are as many tips on perfect startup pitches as people who once did one. We want to help you find out the right ingredients for your pitch to convince every investor. Read on for the most crucial tips for your cake base plus those small but very important things that put the icing on the cake of your pitch!
Tips for the perfect startup pitch #1: know your audience!
Research your audience and speak directly to them. Personalize your slides with their brand, and offer statistics and information relevant to your listeners. Don’t forget to state the value for the investor clearly, so they see why they need you. Your goal should be to establish a connection and make yourself indispensable for the investor.
Tips for the perfect startup pitch #2: drama, baby!
Give them a good show! Use whatever means you can to make sure the story is coming through and you catch your audience’s attention: start and end your pitch with a bang that raises awareness. Be at all times conscious of the tone in your voice and integrate some highs and lows in your speech. A well-placed pause can also drive in an important statement. Also, don’t be afraid of presenting visually interesting slides.
Tips for the perfect startup pitch #3: it all starts with the necessity!
What is the problem you are trying to solve? This question decides whether your listeners find your idea worth investing or not. Convince them that there is a need! Give them a concise statement of the problem with illustrating examples and show them the possible ramifications. Then follow up with your unique solution – which is of course better than your competitor’s.
Tips for the perfect startup pitch #4: make the sound bite!
Most people don’t remember numbers, but they will remember a sound bite – a short, catchy phrase. Do you remember Steve Jobs talking about “The world’s thinnest notebook” when he first introduced the MacBook Air? This is what you want: a good sound bite that will stick in the mind of your listeners forever.
Tips for the perfect startup pitch #5: show – don’t tell!
Avoid too much text on slides. Instead, use concise visuals that illustrate a story and match your talk. Your pitch should also include one slide that makes your idea visible at once: this involves for example a Twitter-friendly headline, followed by three key benefits to support the headline and a reinforcement through facts, statistics and examples.
Tips for the perfect startup pitch #6: arm yourself with real data!
What convinces investors? Cold, hard facts – lots of them. Be prepared with ample data and realistic prognoses. Walk into a pitch knowing your profit margins, revenues, growth metrics, cost per acquisition, etc. by heart. Most investors seek out low-risk businesses with proven managers that are as close to guaranteed success as possible. So show them you master your business!
Tips for the perfect startup pitch #7: teamwork makes the dream work!
People grow a company, not capital. Investors know you have competitors and that the strongest team will make the best race and win the market. If you have a strong team, show it and devote at least one slide to outlining your amazing people. If your team is just a handful of first-timers, then talk about your vision for the team: who, why and how will you hire with the capital?
The ability to present themselves with a great pitch can be a matter of life and death for startups. That’s why we support our residents at CODE_n SPACES with pitch trainings, for example by Dirk Lehmann. The best tip for the perfect startup pitch still remains: practice. So stay hungry and learn from every time you pitch!