If you have 1-3 minutes to communicate your idea, here are tips using a format hundreds of startups have field-tested with thousands of mentors.
Develop your pitch slides & with a minimum font size of 30 points. Use as many slides as you like and we recommend you use lots of images instead of lots of text. Follow the template summarized below:
- Company – Describe your venture in a sentence. Some tips on condensing your value proposition.
- Credibility – Talk is cheap, show us you are someone with more than just an idea / someone we should continue listening to. If you have no credibility yet (very common!), skip this section. Remember to show, don’t tell.
- Customer Segment(s) – Give us a quick feeling for who your target market is and that they have enough money to make your venture worthwhile. Better yet, tell us about a sample customer.
- Pains – What is the pain (for your target market) you are solving? How to articulate your pains. Some tips on making sure your pains & gains match.
- Benefits – What benefits can you deliver to the target market that alleviates their pain? Note: features are not benefits :).
- Competitive Advantages – How are you positioned better than the competition? Remember the positioning triangle.
- Next Steps / Ask – ALWAYS end a pitch with some kind of ask. It can be explicit or implicit, but it must always be there. A great way to do it implicitly is to show the audience what your next step is. Note: never ask people to buy your product or invest in your company. It can be illegal and never classy. If people love you, they’ll ask to buy/invest without you asking :). Get more detailed help on how to make a great Ask here.
Hat Tip: This content expands on the work of the great people at www.valleyventurementors.org.