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Sit Back, Relax, and Let’s Talk About Starting Your Amazing Startup Journey!
Grab your favorite mug or head to your favorite café – today we’re diving into how to kick off your incredible adventure with a startup. And where does it all begin? You need to put it in writing – starting with a Pitch Deck! ✨
What is a Pitch Deck? ✨
In simple terms, it’s a presentation designed to convince someone – usually investors – to believe in you and invest in your vision. It needs to be clear, concise, and straight to the point.
Here’s a little secret: 49% of success lies in your product, but the other 51% depends on how you reach your customers and how you talk about your product. Without sales, even the best product may never see the light of day – and that would be a shame!
Creating Your Pitch Deck Baseline:
1. Your Idea in 3 Minutes
Explain your idea so simply that even a child could understand it. Keep it straightforward, clear, and to the point.
2. How Your Product Solves a Problem
Identify the problem you’re addressing and demonstrate how significant it is. Use data and numbers to emphasize its scale – businesses love metrics.
3. Your Experience or Product Progress
Highlight your current experience or the progress your product has already made to show you’re not starting from scratch. If you are starting from zero, emphasize what gives your product an edge (e.g., strong industry knowledge).
4. Detailed Description of the Concept
Go deeper into your concept using visuals like graphs, charts, or illustrations. Visuals are always better than walls of text.
5. Technology Used or Planned
Describe the technology behind your product. Explain why you chose it, whether it’s scalable, and how user-friendly it is.
6. Market Size
Illustrate how big the market is. Don’t forget: numbers, numbers, numbers!
7. Timeline
Show how you see the project progressing over time. A good approach is to split it into quarterly milestones for the year.
8. Detailed Timeline Slide
If needed, create an additional slide with more detailed timelines, but don’t overwhelm your audience with too much information at first.
9. Pricing Model
Show how your product will generate revenue. This is where you need to focus most because this is where the fun (and success) happens. Specify also the amount needed, allocation of funds, and expected milestones post-funding.
10. Go-to-Market Strategy:
Explain customer acquisition and retention plans. Customer acquisition focuses on attracting new customers through strategies like targeted advertising, social media campaigns, and optimized conversion points. Customer retention ensures existing customers remain loyal by offering excellent service, personalized experiences, loyalty programs, and ongoing engagement.
11. Legal and Regulatory Aspects
Address the legal and regulatory factors relevant to your product. This is your moment to show you’ve thoroughly researched your field and understand what’s required. It also builds credibility as a serious founder.