The Ultimate Startup pitch in 5 slides
Slide 1 Ultimate name for your startup
We took the hard job of trying to name our startup over an agile sprint, and we came up with astounding algorithms for doing the same.
Here are the top 3 in case you are interested
Slide 2 Ultimate Tagline for the name
Considering the cerebral processing capacity of investors, we recommend to limit tag lines to 3 words and never more. It is luckily not 3 times the size of your naming sprint. This sprint although short, its outcome, has a veto power on upcoming sprints like product design and modularity of the value proposition.
The 3 word magic formula below
<<present continuous tense verb>> <<on a simple target object>> <<with a perceived/promised unmeasurable value >>
<<present tense verb>> <<present tense verb>> <<present tense verb>>
With value explained in Slide 3
There are theoretical foundations and void reasons for conducting market research, product design, and business model together in parallel. But…
We being a lean startup with a freelancing founder, could only afford to do this in series, even if this means diminished disproportionate value of our ultimate startup.
Slide 3 Ultimate Value Proposition
Product Value Proposition is a little tricky, if your second sprint in the tag line did not give 3 reasonable well meaning words to count on and build layers of meaning and stories that resonate with all 3 parties (investor, customer, employee), consider a pivot immediately and redo slide 2.
If the story sold with other startups (got revenues and investments) with a different set of verbs only focus why you are forever superior fundamentally and stick to this story.
If you are so unique and only one attacking the open available market share, unfortunately we all have to rely on your creativity. Again only 3 verbs
Here is how our current product value proposition is realized
ob•vi•ate ► To anticipate and dispose of effectively; render unnecessary
Major market need, available capital to be freed, immediate value, and does not disrupt any existing processes and structures, so every customer can feel safe, that is till they actually buy the next module
ob•fus•cate ►To make so confused or opaque as to be difficult to perceive or understand
Data driven, closed IP, and here is where magic happens, and we will not tell you the secret sauce, but you can taste it from our existing customer testimonials and master chef reports available when you can give away your contact and few body fluid samples on our website for free. Also this is patent pending across 3 major geographies where we see our product leading the market, and you can see the empty provisional patent application by clicking on the link hidden on our website again.
ob•li•vi•ate ► To forget, to wipe from existence
Actionable insights that forces decision, forgets reason, and renders functions redundant, as we are the only ones riding that massive, disruptive wave happening beneath in the technology ecosystem. Enabling this is our strategic partnerships with stealth technology leaders.
You can insert a complex picture, typically pushing the limits of smart art or keynote charts with some major links to research reports across the usual suspects like forrester, gartner, and other old analysts that are anyway in a time warp and take the golden quadrant position for yourself.
Slide 4 Ultimate Business Model
Always assume data in your favor in the order of similar startups operating in the space, countries where you intend to operate, and customer segment that nobody heard of existed, till now.
Of course all listeners will lean back to their familiar territories, and your new ground will mostly be lost in translation.
Include metrics with 3 letter acronyms including ROI, CTR, IFT, MAU, MRP, LTV, there is hesitation to question in most pitch sessions that are so tightly timed, you don’t even have to expand these, and all listeners are supposed to know. And yes, include a graph with a positive slope and X-Axis having time line, and Y-Axis one of those value words (revenue, satisfaction, experience, scale, margin, reach, …), a classic.
Slide 5 Ultimate Team
This is an important slide for securing trust. And the goods of exchange is pedigree , and the maximum number that is empirically accepted is 3 again. Hacker, Hustler, Designer; other useful combinations include know him since my childhood, associated for more than 2 decades since smoking our first joint together in high school, and we met at a VC event/b.school/yahoo/zynga/ebay/google or any other billion dollar dysfunctional corporates will work as well.
For style you can include metrics like LinkedIn 7000+ connects, Klout 91, Kred 742/7, mechanical turker rating 42, tumblr followers 420 …
Obviously you don’t want to give away any of your detailed pedigree information till a term sheet is in sight, so always add only logos and never text about the degree or the university. Also they look great on the slide with proper contrast.
Unreadable last names with more than 16 characters or bizarre combinations of consonants and vowels are welcome, along with shortened first names.
Good luck with your pitch, ecosystem respects you for your courage, and freely giving away advisory equity and other entitlements for vague expertise.
I went to buy a pair of Ruosh at a store newly opened in our area. Lush, classy store with just enough labor and lot of time given for the customer to spend in the selections.
Only the store does not offer any discounts, before I tried any shoe I told the sales guy I am looking to buy online possibly at myntra for at least 30% discount. I even showed him the online prices to see if he would match. No luck there.
But what happened next was unexpected. The sales guy declared, that any online purchased shoes will not be serviced in the store.
3 conclusions that I drew were
You may have a great value perception but if on the ground brands’ employee incentives and brand outcomes are in conflict across channels, it will only pave way for an early exit from the market.
Here is what we joke about conferences, everybody (audience, speakers, and event managers) starts with ‘a need to agree‘ on something early morning. This could range from “innovation is critical to success of business/India”, “gamification is revolutionizing business process”, “stories are the next strategy” or something like that. By end of day after speakers speaking, audience listening and event managers buzzing, the host notes that ‘all have agreed‘ on what we began with as a need, marking the successful close of the conference.
What happens in between is forcing a choice between competing sets of vocabulary, and each trying to push the other out. Even within one vocabulary, speakers/participants lean towards a specific sub set.
Here is where the conflict lies, and below examples as I noticed in a recent conference.
1. Visibility versus viability, while who ever is on stage successfully runs a viable business or used to, everyone else is simply looking to be more visible, like a 70 word intro before a 15 word question to speakers, or other plugs.
2. Cost versus price, this one is common even while the discussion is about pricing, most participants confuse it with their costs, and unable to rephrase / appreciate a concept for price. I think this is a genuine psychological inertia that is exhibited.
3. Revenue versus capitalization, most speakers agree that while the real deal for any valuation should actually be the revenues, most tech ventures are traded for capitalization. And who decides this price, the banker / investor / startup / someone else. In any case the switch to the higher number (usually capitalization) is towards resolving the first conflict of visibility versus viability.
4. Sales versus marketing, even if a session is about writing an advertorial or sponsored tweet, most confuse it with sales, this chunking of ‘sales and marketing’ is a way to avoid any responsibility in it, “…see I am techie…, the other guy in my team does all that”
5. Problem versus opportunity, not much of a conflict in this one, but still this comes to play when you are inside an already running business, best resources are staffed in the largest / most profitable current account fixing issues to keep the customer and not the most promising opportunity of acquiring a new (possibly less painful) customer. (the ‘strategic account’ conversation for another day)
Point I am trying to make is simple, to choose a field means adopting its vocabulary and its conflicts, and with changing fashions/fads if your vocabulary does not evolve as well, you are outdated even before you started.