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A pitch is required to present your startup's idea to some people. Like friends - if they understand, they will engage and support you, give advices; if not, th
by soneca 13y ago
A pitch is required to present your startup's idea to some people. Like friends - if they understand, they will engage and support you, give advices; if not, they will change the subject, think you're a little lost and tell you to "get a job". Or to your parents - if they understand, they will be happy and optimistic about your future; if not, they will worry and tell you to, guess, "get a job". To other entrepreneurs and developers - if they understand, they will try to give advices, make contacts, keep you in their mental list of people they would like to work; if not, they will you consider one wantrepreneur.
This pitch is very important, it needs to come out without any thinking, on automatic. You need only one answer on this pitch, two or three sentences and a complement if the interlocutor is interested and give you space to talk about your startup. More than that is a conversation, and for conversations you do not need pitches.
Do you know for whom you do not need a pitch? Investors. I am not talking about potential investors, who may one day remember you and consider the investment as the entrepreneurs I said earlier. I am speaking of that meeting with the investor, face to face, where you're to present your startup and they will decide whether to invest in you or not. A meeting is a conversation, not a pitch. It is the time that you will present what you know, not what you memorized. We must listen to the investor, to understand his doubts, it takes a lot of empathy. When going to a meeting for such a conversation you should prepare your knowledge, not your speech. You must have a deep understanding of the strengths and weaknesses of your startup, you have to create a presentation only to show some specific numbers that you have no reason to decorate. Those data that are calculated in a serious, rigorous method and not "estimated" or "expected".
In summary, I think two things are essential: i) to have a carefully prepared pitch, ready to go out without thinking, the standard answer about your startup - something that is clear and visionary at the same time, to show the idea and attract person's interest and ii) not to have anything memorized if this short answer turn into a conversation, but you have to be completely updated to all relevante knowledge about your business - and this will tell not only the investors, but yourself, if you are prepared to run this business.