About 90% of new startups fail. What’s more, only 40% of them actually turn a profit. But, don’t let these numbers discourage you. The startup industry is continuously booming and a staggering number of new startups are being created on a daily basis. In fact, US startups are creating roughly 3 to 4 million new jobs yearly. But, there is also a dark side to these statistics. This data is going to become even more prevalent during the unique conditions the global pandemic is bringing forth. More and more companies are starting to embrace the startup culture and company structures. This includes working from home, flexible work-hours, less structured colleague relationships and so forth. This is all to say that if you have a great idea that you would like to turn into a startup, this might be just the time to do that. But, the real question is how?
Whatever way you envision your startup to grow, gain traction and receive investor attention, one thing every single startup needs is to make a good pitch. Many great ideas lose their spark as they are hidden behind extremely dull business presentations. But, don’t worry! There is a way to prevent this from happening for you. Here are some tips and tricks to make the best startup pitch:
1. Hook your audience.
Even if your audience is filled with seasoned professionals, do not try and entice them with flowery language or jargon. Keep it simple. Imagine that you are speaking to 5 year olds and are trying to explain to them what pushed you to create this startup idea. Delivery is important. (For more public speaking tips, you can refer to our previous blog!) Try to rethink your presentation as if you are seeing it for the first time and ask yourself: “Would I be interested in hearing more about this?”
2. Tell a good story.
Another way to capture audience attention is to have a solid story that everyone would be interested in hearing. VC’s and potential investors hear thousands of startup pitches but a good story makes it more memorable and worth their time. 55% of people say that the story is what holds their primary attention during a presentation. What made you create the company? Where did the idea come from? What inspired you to take action?
For more information on telling a good story, check out this podcast!
3. Use numbers, but not too much.
In the end of the day, your pitch deck should convince the audience that this startup will be successful, given the financial support. Base your pitch on solid numbers, including user engagement, traffic, number of users and similar growth metrics. But, don’t forget to associate your numbers with your story. After a presentation 63% of attendees remember stories, but only 5% remember statistics.
4. Use visuals.
Approximately 65% of the world is composed of visual learners. A slide with great visuals but a little bit of text is always better than a slide filled with bullet points. Through using good visuals you can capture your audience’s attention, help them understand and remember your main message. Find the appropriate business presentation template that will allow you to do this!
Participate in every opportunity where you can pitch. Startup guru Guy Kawasaki suggests that pitching is an acquired skill rather than an innate talent. Simply getting up and winging it is not really an option when your entire startup is on the line. Experts say that it takes about 25 times to master your pitch and be extremely comfortable to deliver a completely smooth presentation.
For better understanding what a good pitch looks like, check out this video!
To help you structure your pitch deck, here is what we recommend you to include in your presentation:
- Market Size & Analysis
- Business Model & Target Countries
- Competition and What Makes you Better
- Future Steps
After having gathered the necessary content, it might be wise to rethink how you will structure the slides. After all, your content needs to shine through the presentation, not be lost in the detail. Do you think you would like some help with structuring your content? For sample pitch deck templates, check out the Decktopus templates. Here, you will find intuitively pre-prepared slides that will help you create the perfect pitch presentation.
Some articles for inspiration:
- What Makes for a Good Presentation?
- Course Creation 101: How to Create a Successful Course
- Presentation Template Series 2: Airbnb Pitch Deck
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