By Nathan Beckord
Raj Nathan desires you to have a voice. Actually, he desires everybody to have a voice. And he helps startups use their voices to inform their tales—and to pitch buyers.
Based mostly in Chicago, Raj is a pitch and presentation coach, serving to startups arise and stand out in a crowded area. His small group at Startup Hypeman works with 5 to 10 organizations per week to hone their elevator pitches and pitch decks. “Startup Hypeman is intently centered on being a hype man for startups, by serving to them not suck at how they pitch themselves,” he says. “And most frequently, that’s for the aim of fundraising.”
The issue with most pitch decks, in line with Raj, is that they both don’t inform a compelling story or they fail to inform a narrative in any respect. That’s true even when an organization has an unimaginable product.
On this article, Raj walks us by the steps he makes use of with entrepreneurs to show run-of-the-mill pitch decks into ones that do the heavy lifting for you.
A successful pitch in 5 steps
Step #1: Make your elevator pitch the muse
The very first thing Startup Hypeman works on with any shopper is the elevator pitch. Raj says many entrepreneurs fall into the entice of attempting to cram an excessive amount of info—or not sufficient—into their elevator pitches. “By the top, you are simply extremely confused as to what they do. There’s this push from a variety of founders to be like, I gotta use all of the jargon phrases doable to make this sound fascinating,” he explains.
As a substitute, he has what he calls a “Que PASA” framework: Downside, Method, Resolution, Motion. We’ve all seen (or maybe made) the pitch deck that begins with “X is a $50 billion trade.” Whereas numbers will be useful elsewhere, Raj desires founders to consider deeply defining the issue, as a result of as his dad used to inform him rising up, “A well-defined drawback is already half solved.”
Step #2: Arrange the emotion
Raj talks concerning the distinction between what he calls “Cinderella storytelling” and “superior storytelling.” An instance of Cinderella storytelling is perhaps, “Jimmy has an issue. Jimmy is annoyed. Jimmy finds an answer and lives fortunately ever after.” Extra complicated storytelling leads from emotion somewhat than drawback/resolution. Right here’s how he approaches an issue from emotion somewhat than mechanics: “We construct up this story throughout a couple of slides about how the world is changing into extra genuine,” Raj says.
He provides the instance of celebrities who make genuine connections with their followers on social media. The hashtag “#nofilter” is extra in style than utilizing filters on Instagram. Then he ties that again to the (hypothetical) product: Regardless of authenticity being on the rise, relationship nonetheless stays inauthentic. Right here’s an app to extend authenticity in relationship.
Step #3: Element the go-to-market technique
That is the place to be specific. You may have an excellent product, however when you don’t present the way it will generate profits, it’s price nothing to buyers.
“I’ll ask entrepreneurs a query about their traction technique. And so they’ll simply be like, ‘ Oh, social media. Okay, what about social media?’ After which it is a deer-in-the-headlights look in response,” Raj says.
Whether or not it’s advertisements, social media, or partnerships, you’ll want to assume by the way you’ll generate profits and make that the main focus of your go-to-market technique. And with advertisements, take into account how rapidly you may appeal to promoting {dollars}. He says, “You are standing right here and also you’re telling me that on day 5, whenever you’ve obtained 9 customers, you are going to appeal to advertisers? Why would they purchase from you? What worth may you probably deliver them? I get animated about that.”
Step #4: Specify what success seems like
Metrics will be tough. Whereas some industries have commonplace metrics, they aren’t at all times the very best for displaying how your startup works. So, present buyers measure your success from the start by telling them which metrics imply essentially the most.
Together with that, don’t use impartial headers in your slides. As a substitute of labeling a slide “Buyer acquisition,” begin with “We’re wonderful at buying prospects—right here’s how.”
Step #5: Rethink the competitors
Fairly than utilizing the traditional four-quadrant competitors grid that’s been seen again and again, Raj likes to create exclusivity. He explains that by carving out a class all your individual, you get to set the tempo and create extra hype round what you’re doing. It’s not at all times doable, however with some artistic considering, you may set your self aside from the pack.
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Raj’s do’s and don’ts for pitching buyers
Listed here are some last ideas of the commerce for a pitch that buyers received’t overlook:
Zoom in
For a lot of buyers, watching pitches on Zoom is right here to remain. Raj recommends investing in a couple of items of apparatus to verify your image is skilled. Which means spending a couple of hundred bucks on a very good lighting setup and an exterior digicam with increased decision than no matter your laptop’s built-in webcam gives.
Don’t overlook that your background helps inform your story, too. Let it mirror your character and your model. Lastly, take a tip from newscasters the world over: Get up! Reconfigure your desk if you need to. The power enhance from standing whereas speaking will repay.
Begin early
Don’t craft your pitch the night time earlier than it is advisable to give it. Ideally, Raj recommends beginning your deck at the very least a month earlier than you propose to begin pitching buyers. That leaves loads of time for apply and revisions.
Recover from the hump
With regards to truly placing the slides collectively for a deck, Raj begins in Phrase somewhat than PowerPoint.
“We begin in a Phrase doc,” he says. “In case you define it first … it is a means simpler train. It makes then placing it on to slides quite a bit simpler since you’re occupied with not simply the uncooked info, but additionally [asking yourself], What’s my perception? Or — What do I need to say about this factor?”
Generally the toughest a part of making a pitch deck is getting over your self and getting began.
Article relies on an interview between Nathan Beckord and Raj Nathan on an episode of Foundersuite’s How I Raised It podcast.
In regards to the Creator
Nathan Beckord is the CEO of Foundersuite.com, which makes software program for startups elevating capital. Nathan can be the CEO of Fundingstack.com, which is a brand new platform for VCs and funding bankers to each increase capital and help shoppers and portfolio corporations. Customers of those platforms have raised over $9.7 billion since 2016.
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