With so little time, what is best to include, exclude, etc?
Elevator pitch template or outline or strategy needed
Answers
It depends on your company, but I've always found more is better. For example, Steve Smith,
1
Hi Christine,
I was thinking more along the lines of pitching investors for a startup... in-person, what kind of verbal outline to a potential investor might be a bit better format.
Be memorable. I tell everyone I am a recovering
Check out Canaan Partners website, they have great information on pitch decks. I found it VERY helpful. You can download their VC pitch deck guide.
I think a fundamental rule is that you should say something significant and specific to you/your company within the first 15 seconds...not like "We're a software company that specializes simplifying transactional analysis." but more like that statement with "...by utilizing a patented algorithm that can crunch up to 2 million data points, make correlations and generate an executive dashboard within minutes." Allow a 2 second 'pregnant pause' to allow for some response/assess initial interest before continuing. And don't forget to ask for a specific time to meet/talk further.
There are lots of pitch deck templates that you can download. While a deck is usually only 15-18 slides I encourage you to build as many slides as you need to get your plan right and then narrow it down. The rest will help you understand your business and be available in your mind or at hand for Q&A.
What should you present? Investors want to know 1) do you understand the need/opportunity & market 2) how you will make money and 3) why you? The last is often the most important: Can you lead, sell, do you have some important expertise and do you know what you don't know and have a plan or are open to input. Being dynamic and having a personality are great assets but quiet entrepreneurs can overcome a shortcoming by showing strength in their knowledge and how they think. If an investor does PARTNER with you, you will be together for a long time. While the first 2 questions may seem obvious, I can say that these are among the most common mistakes and quickest to be eliminated from a plan competition.
Filed Under:
Human Capital