The ability to convey a good startup story is a known, yet often poorly handled factor in a startup’s success or failure. After all, potential investors have a very limited attention span, which Means you have to perfect your pitch in a matter of minutes. Great storytelling is equally important to a new startup looking to get funding, as it is to a nonprofit hoping to increase awareness towards a particular cause.
The following 6 tips will help you improve your pitch and increase your chances of funding, or promoting your startup. Let’s begin, shall we?
Make your story concise
As previously mentioned, potential investors have a limited attention span and are also incredibly busy. A good pitch should take no more than two to three minutes. Even two, three minutes beyond that, and your chances get slimmer. They’re called elevator pitches for a reason.
It’s all about passion
Let’s face it, the amount of startups in today’s technology-driven world appear endless. You’d be surprised at the amount of technically sound ideas that are pitched, and even more surprised at how many don’t make it. The reason being they failed to show passion.
Over-emphasizing the value of technical aspects such as statistics and graphs without displaying a hint of passion is incredibly detrimental. You have to get back to your origins and share the passion that you have for the startup. Passion is a contagious emotion, and one that you surely want to express authentically during your story.
The power of words
One often overlooked story telling factor is the words one chooses to use. While instinctively we tend to minimize the importance of word choice, the truth of the matter is there’s a factual psychological effect behind many words. From negative to positive connotations.
For example the word small, while may accurately describe the size of your organization naturally brings a comparison to big in one’s mind, as well as words like weak and puny. You should also steer clear of the usage of generic words, and focus on a unique way to capture the attention of anyone listening.
An interesting problem
One of the better ways to connect with those listening to your story is to focus on a particular problem your startup manages to solve. While this is a relatively known practice, beginner, and experienced start-up owners fail in one noticeable way. They don’t put enough emphasis on the problem, thus not taking full advantage of this time proven method.
Make sure your pitch creates a vivid presentation, and even a slightly theatrical portrayal of a problem that needs a solution.
Time a viable and elegant solution is what truly brings your whole pitch together. What you’re striving for is to demonstrate eloquently both a viable solution, and how it improves upon the lives of potential customers.
While there are as many techniques to improve storytelling as there are startups, the importance of practice always remains at the top. However, don’t limit your practice to just memorizing your pitch. Anticipate questions investors or even journalists may have, and prepare for anything that may come your way.