What Startups Need to Prepare for Startup Pitching
Get an investment is a dream of most startups. Stand out among other applicants is the key how to make investor give you a chance to explain your business. And the question is, how to make investors impressed by your presentation? Here are some advices to make sure you’re good and ready to give a winning pitch.
Elevator Pitch - Prepare a short and clear a charismatically on target elevator pitch. Just give synopsis of your business in a few sentences. It is simple yet so hard to do because you must explain your business in limited time. It is indeed little bit tricky to give information in short about the problem you solve, the solution you provide, and the people you do it for. But hey, if you succeed to explain in less than five minutes and you exchange business card with investors, you did it just right.
Pitch Deck - The advance step that should be prepared is a pitch deck which is a business plan that usually comes as a PowerPoint document. The pitch deck tend to be more visual, highlighting every key points effectively. Sometime, investors will request the pitch deck ahead of presentation to get a quick preview of your main idea.
Business Plan - It is a must have thing for entrepreneurs before approaching investors. Investors seek a well-prepared long term or prospective business, so you have to make sure about your roadmap. Identify how big is your market, how lucrative your business model, and how to validate your idea are the main topic.
Practice Makes Perfect - When you have finished with all the preparation, the last step you have to take is practice. Get practice with your family, your friends, and your co-worker before facing the investors to explain your business plan. The study in Miami University found the effectiveness of practicing a speech or presentation before giving it is much better rather than a spontaneous one. Because no one expert without practice.