How to Pitch a Startup: 101
Pitching a startup in under 3 minutes is no easy task. To pack everything from the problem you are solving to your business model, market strategy and Unique Value Proposition feels close to impossible. Can't be done! Or...?
I've coached pitching for the past five years and I've seen that a solid pitch starts from a script with a clear structure. There are plenty of tutorial videos out there (and I recommend watching them all). However, when I started coaching, I couldn't find that one video that took into account all the aspects of a winning pitch. So in 2018, we put together this one that takes a shot at doing so to specifically support startups in southern Africa. Thanks to Southern Africa Innovation Support Programme (SAIS), this video is still out there to help everyone interested in learning the art of pitching.
This blog compiles some of the basic things necessary to learn how to pitch a startup.
Watch tutorial videos and examples
Still think it's possible to fit everything in under 3 minutes? Just watch Ebinabo Ofrey pitch Gerocare Solutions Limited (Nigeria) at Slush in 2018. I was impressed by his effective language combining strong emotive language with hard hitting facts. Watch also how he uses storytelling to describe his motivation.
(And what an important service Gerocare provides - especially during COVID-19! No wonder they have gone on to win several innovation awards since this finale of the Slush Global Impact Accelerator!)
2. Draft your written Pitch Script
Seen a bunch of tutorials on pitching? Watched examples of startups delivering a demo pitch? Great! Now on to the real work - drafting your own script. Writing your pitch allows you to strategically spend the allocated time, to make sure your story flows and that it is easy to follow. It also helps you to not repeat yourself too much.
Use the script template here to write the first draft and start pitching it right away. Pitch to anyone who'll listen - your neighbour, your 2-year-old, your dog. Keep editing it so that the content is effective, exciting and just under 3 minutes. Move away from using notes as fast as possible, because otherwise, they become a crutch you lean on. In general, notes are not allowed in startup pitch competitions and other events.
It's not easy, but no one ever promised it would be.
3. Design your Pitch deck to support your presentation
A fantastic pitch goes hand in hand with a beautiful pitch deck - the short, visual presentation that helps your audience get excited about your startup. This blog has already become a classic as it compiles famous examples of pitch decks by companies like Facebook and Youtube. I especially like the clear "Favorite takeaways" which help readers understand exactly what they should keep an eye on when drafting their pitch deck. If you weren’t blessed with a creative eye or stellar designing skills, this is the part you should consider outsourcing to an expert as the branding and company image is a critical part in building your business. Not a graphic designer? Check out SlidesCarnival or Canva for free templates.
Here are some selected pitfalls to avoid when designing a pitch to use a Demo Deck:
using too much text: use keywords instead of full sentences. Try using a font size no smaller than 30 like suggested by the startup guru Guy Kawasaki
using bullet points: the world has seen enough crowded Powerpoint presentations with a gazillion bullet points.
using low-quality photos or photos you don’t own: don’t break laws, buddy. Check this compiled blog post for amazing visuals.
4. Avoid common mistakes
Okay, you have your pitch script and pitch deck together.
Next, double-check that you don't repeat some of the most typical mistakes startups make when pitching. Think about:
handling the tech: microphones, clickers, and presentations all need to be managed calmly, so practice this
controlling your voice: projecting sound and speaking up you sound more confident than you might feel
posture and movement: stand up straight, move naturally. A good tip is to stand on both feet, hip-width apart.
If you ask me, I'd say the most typical mistake is to underestimate the amount of practice needed to become good.
5. Develop your presenting skills
Startup pitch script - check! Awesome pitch deck - check! Then all that is left is to deliver it with confidence. Easy, right?
Public speaking is one of the most common phobias in the world so it's completely human to feel like that Eminem song before walking on stage...
"He's nervous, but on the surface he looks calm
and ready
To drop bombs, but he keeps on forgetting
What he wrote down, the whole crowd goes so loud
He opens his mouth, but the words won't come out"
What people sometimes forget is that even those who seem confident on the outside can be extremely nervous on the inside. They just learned to control their nerves a bit better. Or they practice more.
My advice? Don't compare your insides with others' outsides. And don't skimp on the practice. Hire a coach if you need one.
Working with a pitch coach
I’ve had the pleasure of coaching pitching to PhD students in London, to non-profits, corporates and sales teams in Finland and to early-stage startups from Finland and southern Africa.
I like taking a personal and tailored approach to the coaching, and it’s rewarding to see the growth in the short amount of time. With the confidence in public speaking developed, some founders have gone on to win startup competitions and even raising investment. To achieve excellent results, it’s recommendable to have several coaching sessions and to go through the nitty-gritty details in a pitch to make sure it as effective as possible.
See, for instance, here how Mwila Kangwa from Zambia pitches AgriPredict in Helsinki. To prepare, we worked together over a period of 3 months. Listen how Mwila uses his personality and storytelling to create a compelling pitch. He connects the startup’s service to a larger societal phenomenon, and shares background information about the startup’s context for a Scandinavian audience at Slush 2018.
Mwila took home the first prize.
“From my experience, Auri Evokari is hard working, honest and easy to work with. Her excellent mentorship and pitching skills are what led me to lead my startup, AgriPredict to first place winner in the pitch competition. ”