As I promised, today I will share with you the 5 key points that I always take into consideration when looking at reviewing a pitch deck, but in order to do that we go back to what we spoke about in the last post (Why Story Telling is important in your startup pitch). A pitch should be a story and the more powerful your story the more memorable, interesting and appealing it becomes. So in order to start we are going to first forget the word “Pitch Deck” and REPLACE it with STORY. Yes we are going to tell a story about you and your new idea.
Are you ready? Get your pens out, get set … NO WAIT. Before you start writing, I want you to consider the following points. These are the 5 key points that make a story and you will need to take these points into consideration when you are going to build your story. Let’s start dissecting and looking at each point briefly.
- THE CHARACTER. Yes. Each story has one or several key characters. These are the heroes of the story, these are the people that are there from the beginning to the end. They are one of the most important parts of this story and in the story, they need to shine through, they are present at all times and they are the driving force behind everything that happens within a story. Just think of the hundreds of movies you have watched or novels you have read. Try to analyse to see how that main character made you feel and how quickly you connected to that persona. If a simple novel can create such a deep connection, that’s what we need to go fishing for. Building The character or in our story THE FOUNDER(s).
- WHO ARE YOU SAVING. The character(s) is/are there for a reason; to save someone, something, to do something important. This is the whole idea, the mission. The bigger the mission, the more daunting the task and the more valiant and daring THE HERO= the more interesting the story. This is all about the problem you are solving, the people you are helping (client segmentation) and putting them out of their misery. No more waiting in lines for TAXIs, here comes the ride hailing App that will pick you up anytime, anywhere FOR LESS.
- WHY. Of course, this is probably what makes it or breaks it. Are you pulling The granny by force across the street even though she doesn’t want it or need to, or are you really helping her cross when she wants, where she wants, safely and with less hassle. This part is all about the PRODUCT – MARKET FIT. Why are you trying to solve this problem? How many people are experiencing this problem and are looking for solutions? Or HOW can we be sure that once a solution has been provided THEY WILL REALLY USE IT. You need to address this question in a manner that NO QUESTIONS can be left to ask. If you can do that, you will have convinced your audience about your WHY, and WHY WHAT YOU ARE TRYING TO SOLVE OR SAVE IS IMPORTANT and WILL WORK.
- WHAT’S IN IT FOR ME.- THE PREVIEW. You are pitching but so is a book, a movie or a song. They are all pitching to an audience. They are looking for people to put their hands in their pockets and pay for whatever THE CHARACTER is going to GIVE THEM. Invariably you always have an audience and you have to ask the question what is my “AUDIENCE” expecting from this story “WHAT’s IN IT FOR THEM?” Joy, entertainment, feeling good, earning money. This is the part of your story where you need to address WHAT’s IN IT FOR THE AUDIENCE. If you promote a comedy or action movie, invariably you have to make sure that the audience gets a PREVIEW of what’s in it for them so that they can get a feel for how much they excitement or laughter them will get out of it. Do I need to state the obvious? YES. They need to see CLEARLY and HOW they are going to earn more money out of this investment. Basically, Is what you are telling going to achieve their objectives. I put this in bold, because if you can’t answer this question correctly you are going NOWHERE.
- IMPACT. This is the last and the final, The closing lines, THE END. This is how you leave your audience and you need to leave them with a feeling of CRAVING. We want to see the NEXT EPISODE, we want to hear what’s next, we want you to REPEAT IT and SAVE MORE PEOPLE, We want you > “THE CHARACTER OUR HERO” > to lead the way. Notice, how I have changed to the WE, as I position myself into listening to your story and the person who is listening. This is what WE as the AUDIENCE want. THE IMPACT you leave us with is the difference you are making in our lives.
So are you ready now to dig in? Well you should already have a good idea to get started, but I want to give you more. Get your pens out and start scribling your idea. What we want to do is create a powerful and yet credible story and NOT some unbelievable FANTASY. Over the next few days, I will dissect each of the above in one separate blog and we will delve into how to create each part of the story.
I help Founders in Accelerators and Incubators improve their pitchdeck and pitching skills. If you are interested in organizing a masterclass for all your startups in your incubator / accelerator. Book a FREE 30 minute call with me or simply send me a message and we can explore the options of how I can help your startups shine.