We are halfway through on how to create an awesome pitchdeck for your startup. This post is part 3 of 5 and today I will explain how and why the WHY you are doing this is important.
As I said in the first blog THE WHY 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.
Keeping to the fact that we are answering this question just as if a friend asked us, we can think of a few important questions in answering The WHY(s).
Why are you doing?
Why will this help people?
Why do they need it?
These are very simple Why questions. Ask yourself all the WHYs that you can come up with and then answer them. It is that simple. Here is a simple example:
“I am helping entrepreneurs improve their pitchdeck and pitching skills. Since the beginning of the year I must have watched and listened to nearly 50 startup pitches. They are all wonderful ideas with pontential to achieve wonders. They are all startups in the process of fund raising and yet they are failing to answer some very simple questions. I help bring clarity to a pitch deck that makes the Founders shine, The Problem clear and answer the most obvious questions for the investors, “Will this bring me a Return On Investment?”. There are hundrends and thousands of startups pitching everyday worldwide but only a few handful get funded. Today more than anything, it is important that you learn how to communicate your message simply, clearly and effectively. Any questions?”
Does the above answer your “Why I am doing this?” Of course I am not fund raising. I do some of this to give back to the community and for some jobs I get paid. In both occassions it brings me immense joy at the end of each session with a feeling of satisfaction that I have achieved something today. If you can answer those Why’s in this simple manner, you will have convinced most of your audience because you will have answered most of the questions that are POPPING UP in their head.
I was being totally honest about the example as well. Since the beginning of this year I have attended many pitching sessions. Invariably all pitches fail to tell a story, they fail to make the founder shine, they are overloaded with text and irrelevant images talking about the product. They fail to ANSWER the WHYs in simple effective manner. I have helped many of these startups and founder in mentoring and individual sessions, polish their presentations and answer key questions.
If you are struggling with your pitch, fund raising or getting NO from investors then book a free 30 minute call with me and we can have a chat to see how I can help you.