As an entrepreneur, creating a startup pitch deck is one of the most paramount things, especially in the early stages. Apparently, it is one of the most challenging things too. Are you looking forward to building a high-growth startup? If yes, you definitely have to raise money at some stage of your journey. Another thing that makes a huge difference is knowing how to write a compelling pitch. The best entrepreneurs are not only broad visionaries; they are storytellers. Venture capitalists invest in people, not in businesses.
As a matter of course, it is not an issue how great your storyline and pitch may be; you will have to need the service/product and a dynamic team to back it up. Many times, we see founders with a robust business not having clarity on how to present their storylines to potential investors. Eventually, this is where they end up missing out on a lucrative opportunity.
Many of you may have a similar question: What incorporates the vital components of a spellbinding pitch? Not to worry; here we are with a series of questions that your pitch should be answering.
What is the problem you are trying to address?
In simple terms, why does your startup service/product exist? Or else, if the pain points you are solving are something important, why has no one else solved them earlier? The aim here is to exhibit that the only problem needs to be solved, but users are also ready to pay for the solution. Showing evidence that your users love the service/product is not enough; they must be impressed enough to be willing to bear the costs of what you are proposing.
How will you solve that particular problem?
As of now, when you have thoroughly researched, identified, and proven that there is some issue, how will you actually solve it? Ideas are exceptional; even so, evidence is the execution. Know your go-to-market strategy and how much purchase traction you have so far for your service/product. Elaborate how you will achieve your customer and show how you will win them over. What channels or platforms will you use to reach them, and how is your plan of action set up for success?
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Why now is the right time to solve the problem?
Typically, two main things make sense here. The foremost is to show the users a sizable market probability. The second would be to demonstrate how you can capture the market. Specifically, in venture capital, a large fraction of market opportunity is pretty much entailed and natural. In layman’s terms, there needs to be a consequential uptick for venture capitalists to risk their money. We have to mention that it is also about creating a sense of urgency. So, make sure why your startup should grow now.
Why are you the right person to address the problem?
Here comes the moment when you need to consider selling yourself, both as a team and founder. Suppose the problem you are addressing is highly important. In that case, you are definitely not the only one in the market solving it. Assure to exhibit what sets you apart from your competitors. Why does someone invest in you and not your other competitors? Indeed, this is the phase where you need to highlight how your past practices have helped you succeed. Show the venture capitalists you do not only have the right people but the right motivation to make this happen.
THE FINAL WORD
Once you have answered all the questions mentioned above, know that the real challenge awaits you. Telling your story through an impressive startup pitch deck makes a huge difference. It should be easy to understand, coherent, and just interesting enough to work for the investors. So make sure to sell your future dream in the best possible manner.