Short lessons, each linked to the original.
Seven questions your pitch should answer
Tunguz lists the questions a venture investor might ask in a first meeting: the problem and why now, the team, the competitive angle, product validation and sales, customer acquisition and unit economics, the revenue model, and market size. He says answering them in a generic fundraising deck is a solid starting point, and that the points should be united with a single theme or story.
“What is the problem and is it worth solving?”— Tomasz Tunguz, The 7 Questions A Startup Should Answer in their Fund Raising Pitch, Mar 2013
Do this: You write one short answer per question in a single document this week, then check that your deck answers all seven with one story running through it.
Say what you do in your first line
Ralston's guide to demo day presentations says to open by briefly saying what you do and why, in terms the audience is likely to understand. He contrasts a plain grocery-delivery sentence with a jargon-heavy one. He says your goal is to intrigue listeners enough that they want to meet you and learn more.
“A common error is to avoid describing what you do until far into the presentation.”— Geoff Ralston, A Guide to Demo Day Presentations, Jul 2016
Do this: You write the first sentence of your pitch as a plain 'we do X for Y' line and test it on someone outside your field before you send your next deck.
Put a number in every pitch sentence
Currier tells founders not to say a sentence without a number in it, preferably two, and contrasts vague claims like 'we're up a lot' with specific figures. He says people who build giant businesses know their numbers intimately and speak in precise numbers rather than generalities.
“When you're pitching, don't say a sentence without a number in it.”— James Currier, 16 Non-Obvious Fundraising Lessons On Pitching, Nov 2019
Do this: You go through your pitch script this week and replace every vague claim with a specific figure and time period.