At this stage, the 1st validation of the business idea e developing the model and business plan the following are defined. Now, the entrepreneur will need financing in order to be able to develop his product or service. To attract investors, it is necessary to develop a strong and engaging enough argument for them to choose their startup instead of the others who seek the same. That is, develop the pitch a startup.
Two concepts widely used and important in this entrepreneurial environment are pitch e elevator pitch. Pitch a startup is defined as a speech or a brief presentation with the aim of arousing the audience's interest. Derived from this approach is the elevator pitch. It shares the same objective, distinguishing itself by its short duration, corresponding to the time of an elevator ride, as the name suggests.
It doesn't matter that the business idea is innovative, well thought out and has enormous profitable potential if it fails to attract investors. Without the intervention of these entities, the entrepreneur will experience more difficulties in expanding and achieving the desired success. That is why it should invest time in the elaboration of a pitch a startup.
In addition to attracting investors, this approach also makes it possible to attract customers, suppliers and partners.
a elevator pitch it is a short, convincing and previously prepared speech that an entrepreneur uses to arouse the interest of others. This approach is characterized by not normally exceeding 30 seconds while transmitting important information. For example, what makes the product, service, company or even the entrepreneur unique.
This type of presentation can be used in different situations and by different individuals. It can either be used by an individual in a job interview when they are asked to talk a little about themselves, or it can be used in specific situations where there is no time or way to do the job. pitch normal, as in an airport where the entrepreneur meets a potential customer and therefore needs to captivate his interest.
Due to the short duration of this type of speech, the entrepreneur should focus on only three steps:
purpose of identifying
It is necessary to determine what is the main objective that the entrepreneur wants to convey, whether it is to indicate customers about the potential of their products or services, present the idea to investors or simply explain what they do with their lives, in order to build a discourse around this .
Explanation of what makes
After clarifying the previous point, it is time to elaborate the speech. Here, the individual must focus on the problems that exist and explain how he can solve them, helping people. A speech that accompanies true facts or statistics that confirm the premise is valued, in order to reinforce the value in what the individual does.
unique selling proposition of identification
In this speech course it is also essential that the unique sale proposal is presented that shows how the individual, company or idea has an added value compared to others.
After completing these steps, use a stopwatch to determine if the typical time for this speech is respected and if it exceeds, remove less relevant information so as not to risk losing the person's interest.
It is recommended that the entrepreneur involve the audience in his speech. To do this, you can conclude your presentation with open-ended questions and make sure that you answer any questions that may arise. It is also recommended that they have a business card or other type of identification in order to help the public to remember the entrepreneur and the conversation.
In case of pitch a startup, the idea needs to be analyzed in more detail. Likewise, the presentation must be more detailed, covering more stages than those presented in the elevator pitch. A popular rule that the entrepreneur can follow when he is preparing his pitch is the 10-20-30 rule of Guy Kawasaki. It defines that a presentation should not have more than 10 slides, should not exceed 20 minutes and use a letter with a font of at least 30 points, so as not to make the experience boring for the audience.
Many entrepreneurs find it difficult to identify what information they should present in a speech of this type. However, the truth is that there is no stipulated format. What is considered important information varies from individual to individual but there are immense structures of pitch available online. Next, there is the structure that we consider to be the most suitable and that takes into account the rule presented above.
The following is a suggestion of the structure of a pitch but the entrepreneur must understand that it varies according to the type of public in question.
Being the first stage of this presentation, it is responsible for making investors pay attention and focus on the speech. So, this will be a very simple page composed of a summary of the business. However, it must not exceed 10 words, and must include the logo, the name of the business and a reference to the website, if applicable.
It follows from the identification of the problem. Its size must be explained here in order to clearly convey why investors should care.
It is time to present the proposal. In other words, the entrepreneur must clearly explain how he can solve the problem, indicating what are its advantages.
The identification of which market you intend to operate in, what your current dimension is and how it has evolved represents one of the most important stages of the presentation. Thus, this information must be accompanied by statistics and data that confirm the potential.
Investors can be very captivated about what the entrepreneur has to offer. However, one of the points that interests them most is how it will make money. The entrepreneur must clearly explain which plan to follow that will allow him to earn revenue and how he ensures that investors who support the business get a good return.
Another topic that should be mentioned is about the competition existing in the business. This approach is positive because it allows investors to demonstrate that there is a market for the product or service in question. In addition, it will serve as an input to the next stage of the pitch.
Proposal single value
It is time to identify the reason why the solution presented is better than the one on the market. The entrepreneur must indicate what makes his project unique and what are the advantages over the competition.
O no market entry plane it must also be presented by the entrepreneur. So, you should explain what approach to follow to get the product or service on the market and how you will get customers.
To build a successful business, you need a good idea and a team with the required skills. The entrepreneur must identify his team, his skills and how this will help to achieve business success.
In the last stages of pitch, the entrepreneur must indicate the status of the project. That is, what is the state of development of this.
Finally, to finalize the pitch a startup, the first step should be mentioned again. The entrepreneur should thank investors and give them a moment to internalize the information mentioned here. Finally, you must answer any questions they have.
In order to facilitate the preparation of this document, the excellent pitch do AirBnb.