Make It Quick! Give an Overview of the business but make it simple! What is an elevator pitch? The name comes from the notion that the speech should be delivered in the short time period of an elevator ride, usually 20-60 seconds.
How would you describe your business, to a stranger, in 2 sentences or less?
Give an overview of the market you are going after. For example, if you have a dog food line, you are going after all dog owners. More specifically, if your food line helps older dogs, your target market is all dog owners who own a dog that is 5 years or older. How big is your market? What is their demographic? Do they have disposable income? Do you know everything about your market? Is the market big enough to be successful?
You just described your market opportunity. What problem does your product solve? Using the dog food example: Right now there is no dog food brand that focuses on aging dogs and increasing the longevity of their lives, bone health, and general nutrition. In a few sentences, describe how your product is solving a problem in the market your are targeting.
You just described the market opportunity and the problem you are solving. Here, please present your solution/your product/service.
Describe exactly what your business, product, or service is:
How will you generate revenue? Will you sell your product? How much? How much is your service? Any upsells, cross sells, or down sells? Are there any other revenue models that you have created? Subscriptions, advertising, etc.
Explain how you will make Slide 5 and 6 work. How will you put your revenue model and your product/service into action? How will you get customers? What is your marketing plan? Online, offline, sales agents, referrals, systems, procedures, etc. (NEVER say that your market size is 1 billion people, if I can get 1% of that, I will be successful. Don’t say this here or in slide 3. This shows a lack of knowledge).
Typically, entrepreneurs never do it alone. There is always a dream team by their side. It’s nearly impossible to do everything yourself. Who is on your team? Your internal team, board of advisors, board of directors. This build trust and credibility.
Who is on your team and what are their bios?
Who are your competitors? What are they doing correctly and what are they doing incorrectly? Why and how will you be better?
Always ask for the money. Describe what you are looking for and what you are willing to give up.
How much money do you want to Raise?
What are you willing to give up? Equity? Loans? Combination?
What do you need the money for? Use of Proceeds? Marketing, operations, inventory, etc.
