Startup U. is an ongoing series that asks entrepreneurs and subject matter experts in the community to share their best business tips. The intent is to create a resource for new entrepreneurs, as well as those who might need a refresher. To contribute, email me at firstname.lastname@example.org.
Lilian Myers, Starter Studio executive director, will lead her organization into a partnership with several others to host a pitch night. These events help young companies practice their pitch in front of actual audiences – though coronavirus might have something to say about that. She offered tips for businesses on what entrepreneurs should include in their pitches.
1. SIZE AND DYNAMICS OF YOUR MARKET
Your prospective investors want to know why they should care about the market you are after.
Is it big? Is it growing?
Are there dynamic changes that make THIS the moment to seize (think coronavirus)?
2. YOUR TARGET — USER AND WHY THEY CARE
Paint a quick picture of who your target customer is, why they aren’t being satisfied with the alternatives out there today, and what they are saying about what you do.
It’s all a never-ending customer discovery process you should start before you even get past the idea stage.
3. YOUR TEAM AND WHY YOU/THEY WILL PULL IT OFF
Use your history and credentials to establish yourselves as the ones to beat.
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