Summary: <br> <br> <a href="https://mattward.io/memorable-elevator-pitch-vcs-cant-ignore/">Originally posted on mattward.io</a><br> Those words terrify entrepreneurs. You get one chance to make a first impression.<br> And fear of failure often ruins that. Overconfidence is equally harmful though.<br> And one way or another, most startups screw this up. It isn’t easy. It isn’t hard either though.<br> Short, sweet and to the point. That is what you should be aiming for.<br> “I help startups grow, scale and find funding.”<br> … that is okay. It gets the point across. But it isn’t quite specific enough. You need to do better.<br> Who is your target customer?<br> <br> Identify them. There are NO mass market products or problems. Trying to please everyone pleases no one.<br> You NEED an initial base of target customers or you won’t succeed.<br> For me, I advise and invest in early stage tech startups… But every company is kind of a startup. Heck, Gmail was in beta mode for years.<br> So when does a startup stop being a startup and start being a company? Is Airbnb a startup? Google? Uber…<br> You need to be specific. You need to be something for someone or you are just nothing for everyone.<br> Find your niche and fill it. Become a badass in that space, then and only then can your company think of expanding to serve a larger market.<br> How you help is important too<br> Con artists overpromise. Entrepreneurs do the same. In essence we are all salesmen.<br> But to sell, you can’t smell like bullshit. Bold claims better be backed up by something cause these days investors won’t fall for anything.<br> An idea and fancy pitch deck won’t get you funded. This isn’t the 90s. A catchy idea needs a clear business model and strong team to back it up.<br> <br> How do I help startups? How do you help your customers?<br> That is the question every startup MUST answer in their pitch. The devil is really in the details. You could take 10 minutes to explain your company, or you could take 10 seconds.<br> Attention spans being what they are, you need to hammer home fast. You have 10 seconds to grab my attention, 30 seconds to wow me… What is your plan?<br> Source: MindfulMooves<br> Elevator Pitch Examples:<br> Slack — We help businesses and organizations communicate with a simple chat interface.<br> Uber — We help individuals get from A to Z with a simple ride sharing app.<br> Amazon — We help people buy and sell things online.<br> Facebook — We help individuals stay connected and share experiences online.<br> It can be that simple. We help X achieve Y.<br> That is the formula to start any pitch. It grabs your attention and instantly explains your business. It isn’t overly detailed but it covers the basics, who and how.<br> Your pitch should change depending on your audience.<br> What about Why?<br> Why you are building this business is often key. Why determines whether investors and employees get on board.<br> And fyi, to make a lot of money isn’t a good reason. It does not drive emotions, only dollars. And WHY is what drives you.<br> Passionate entrepreneurs solving personal or large scale problems are more driven and motivated to win. They deal with the highs and lows of entrepreneurship and keep fighting. Folks looking for the quick cash don’t.<br> As an investor/advisor, I avoid the latter. The money matters. It matters a lot. But without a bigger driver your business will almost surely stall. And burnout can be a big problem.<br> [LIKE THIS ARTICLE SO FAR? THEN YOU’LL REALLY WANT TO SIGN UP FOR MY NEWSLETTER <a href="https://thesyndicate.vc/subscribe/" data-href="https://thesyndicate.vc/subscribe/" class="markup--anchor markup--p-anchor" rel="noopener" target="_blank">OVER HERE</a> — AND GET SOME FREE BONUSES!]<br> Your company should be a mission.<br> What is your vision of the world? What are you working to create?<br> This captivates people.
