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We’ve all heard plenty of startup pitches. Most of them put us to sleep. Many of them make no sense at all.Some people even make us angry because they’re not feeling well. and content. So here’s a primer presented in 11 questions. If you’re an entrepreneur, look at how well you’re doing.
1. What problem are you trying to solve?
do you know that’s right What problem are businesses, individuals, and you trying to solve? Do you know what it would cost if your solution didn’t exist today? How much would businesses and individuals pay for your solution?
2. Is it a big problem or a small problem? What is the market size for your solution?
It is important to address a large market. Niche markets can be fun and sometimes very profitable, but it’s better to develop products and services for larger, growing markets with unique products and solutions.
3. Has anyone else tried to solve the problem? How do they solve it? Did they succeed or fail? Why?
Due diligence here is most important when you can find all your competitors, if for no other reason than the investor conducting their own due diligence. So, you, the entrepreneur, have to beat them to the punch every time. Details about your competitors are essential. What’s worked and what hasn’t worked for companies that have attacked the same market you’re targeting? It’s important not only to identify your competitors, but to be able to recite their stories.
4. What is your unique solution to this problem? What are the barriers to entry?
Is it technology based? If so, what’s so different about your technology solution? Is there any current or pending intellectual property (IP)? What else is unique about you, your team, your technology, and your plans? What is it? You need a list, but a long list is ideal. Can your solution be easily copied, especially by large, well-funded competitors, or is it difficult to copy (across IP)? How crowded is the space? The last thing you want is to develop a product PR service that can be quickly and easily copied. First mover advantage is almost always temporary. There’s a reason Tesla’s market share is shrinking.
5. Is your “solution” a product or a service?
Describe the unique features of your product or service. Is it progressive or destructive? All ambiguity here should be cleared, at least at launch. Of course, everything changes over time, but clarity here is important not only for market testing, but also for investor confidence.
6. What are the strengths and weaknesses of the founder?
Why is your team solid?What was their experience with your product or service? Was it?
Success or failure? What specific aspects of your entrepreneurial personality are important to success, and which aspects threaten success? Can you be objective about your strengths and weaknesses? Tell your team the truth Is there anyone?
7. How much capital do you need to run?
How much will you launch, how quickly will you reach MVP, and how much will you scale? Of course, these estimates are just estimates, but they need to be tied to your investments, projects, and processes. It has to be clear. Uncertainty is dangerous, even if the entire launch estimation process is uncertain, because investors need numbers (even if they understand how volatile those numbers are). is.
8. Please describe the project and milestones required for launch.
List your projects by name, task, and (ideal) outcome. A series of projects not only helps investors understand where you are going, but also helps you and your team understand what you need to do. Don’t get me wrong. The process of identifying and describing a project is a learning exercise in itself.
9. What are the revenue projections? What are the projected expenses? What are the risks?
Remember that everyone assumes your revenue projections are hypothetical. The market determines whether a product or service has real revenue. Having said that, you should provide a return range with probabilistic outcomes based on well-sourced data. Costs are also hypothetical and typically underestimated. Risk spans revenue and expense and is largely speculative, but it should be provided, even if it is only a best guess. One of the biggest mistakes entrepreneurs make is providing data about revenue, costs, and risks as “facts.”
10. What are your fundraising plans? How many fundraisers are there?
Financing plans must be credible based on existing relationships with investors. Start by making a commitment to be the first and only person you consider calling when launching your startup, and track those relationships. If someone smells that you’re cold calling investors, they’ll run for the exit. How convincing is your proposal? Are investors ready? Who are your pitch targets? What is your pitch schedule?
11. What about the pitch?
The pitch itself should be short, sweet, and delivered convincingly. Find the best actors in your team or anywhere. Find the best writers on your team or anywhere. Find the best graphics in your team, from his artists (like DALL-E and Midjourney), or from anywhere. Remember, pitching is a performance art. Remember that your pitch should be tailored to your audience. Great salespeople, great salespeople, captivating actors, and captivating artists are all needed to generate investment in your company.
If you can’t answer all 11 questions, you’re not an entrepreneur and you’re not ready to be an investor. By the way, he has to answer all these questions in no more than 11 slides, using tons of videos, demos, and stories embedded in his “pitch.” Presenting 11 invalid PowerPoint slides can get you kicked out of the room.
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