TechCrunch posted a terrific article about the difference between pitching your product and telling your story, the story of your business. You can read it here:
At a high level, there are takeaways when pitching your business to potential investors:
- Remember this – people invest in a business, not in a product. If you can’t convince someone that you are building a business in a purposeful and believable manner, your product will not matter. If you really want to engage your audience, don’t lead with your product
- …You have to be able to communicate a crucial aspect of your business, in a convincing, verifiable way in order to tilt the odds in your favor. Communicating Why you matter (value proposition) instead of What you do (product or service) will almost always set the table for a productive, meaningful conversation with an investor. If you dedicate more than 2 slides to your product (one for the current state of the product and what it does and one for your product roadmap), you may be inviting the audience into the weeds, as opposed to…
- …All of us have been tortured by a presentation that was overly long and ‘clinical.’ Humans respond to, and remember stories, not what’s on ‘slide #27 of 40’. And it’s not just brevity that matters. It’s the delivery that really counts. Tell your story, as opposed to Pitching your product.
One thing you may notice is that what you communicate to investors is very similar to how you speak to a customer. The dialect and vocabulary are different for the two audiences, but both will resonate with the same basic message.
So, If you tell your story and why you matter, the reason for and capabilities of your product will be obvious to virtually anyone. Enjoy the article, it’s great advice.
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