How to Prepare a Startup Pitch
Knowing how to pitch your startup is essential to the success and longevity of your startup. It doesn’t matter how innovative your startup’s offering is if you can’t attract the funds and resources to bring it to life. As a founder you will need to develop a convincing pitch early on, even if you don’t have an audience in mind, so that you are able to sell your startup at a moment’s notice.
A pitch is a presentation that captures the essence of your startup. It should encapsulate your startup’s business model as well as your vision as a founder. During the pitch you should engage your audience, drawing them into your startup’s idea and igniting passion for your startup. Typically, a pitch is a mix of a verbal presentation and a pitch deck.
Preparing Your Pitch
Attracting capital for your startup will require a compelling pitch that demonstrates that your startup is the one to invest in over the myriad of competition ventures. At Allied Legal, we have outlined some tips below to help your startup stand out from the crowd and win over investment:
Address a Gap in the Market
Your startup’s pitch should first and foremost address a gap in the market or answer a problem that needs solving. Try homing in on one area so as not to overwhelm or over-complicate your startup’s core mission.
Then Provide a Solution
One key component investors look at is why your offering is different from similar products or services on the market. During your pitch meeting, you should explain how your offering works and why this process is unique. At Allied Legal, we recommend highlighting your startup’s licences or patents to back your claims.
Identify a Target Market
Who are you hoping to sell to? Ensure that you are clear about who needs your offering and why, as well as the size and growth rate of that market. You should also outline how your startup plans to exploit this growth. This may include discussing your projected profit estimates, the scope of the impact you plan on making and how you plan to realistically scale your startup.
Identify Your Market Position
You can demonstrate your startup’s market position and market share by providing data and analysis to back you up. This will show investors that you have done your research and that you are prepared to take the next step. You should also include how much capital similar startups raised along with their market valuation. This will demonstrate how appealing your target market is in terms of return on investment (ROI).
Investors are time poor and most likely inundated with investment proposals, so make sure you are clear and concise about what you are seeking. This includes how much money your startup needs to raise, your current overheads, the resources you require and what it will be used for.
Sell Your Team
Your startup’s team is one of the most important and valuable resources your startup has. During the pitch you
should highlight the achievements and skill set of your founding team and why they are the right people to launch your startup
Need Help? Contact Us.
At Allied Legal, we know that pitching your startup can be challenging, particularly if you haven’t received the right advice. If you need advice on how to sell your startup, or if you require legal documentation, you can connect with one of our commercial lawyers. Contact us on 03 8691 3111 or send an email to email@example.com to get in touch with one of our commercial lawyers.
You might also like our article What Investors Focus On When Funding Early Stage Ventures.