This week I was invited to mentor nine startups at the Fintech Startup Bootcamp in Seoul. I have been involved in may such events, supporting startups with their pitches. This is an area that I believe many startups really trip up on and I’ve identified a few of the key issues below that I’ve seen.
- Keep your slides simple. Almost all startups had so much data on their slides that it made it difficult to focus on the actual pitches. I recommend 3 points per slide, presented as simple bullet points or even three simple images representing you points.
- Identify the problem you’re startup is solving. If you aren’t solving a problem for someone (or don’t clearly define it in your pitch) you wont be able to connect with a market.
- Clearly state your solution to the problem you’ve identified. So many of the startups today lwft their solution to the end of their pitch and had to rush through it. This part is critical to ypur pitch and should be addressed clearly.
- Pitch your numbers. If you have traction (users, downloads, revenue, etc) talk about it. If you are pitching investors they will definitely ask you about your numbers. Talking about them before being asked will show you are thinking about revenue, growth, and profitability.