Twenty Irish start-ups recently pitched for a place on the AIB Start-up Academy. The companies had only five minutes to get their ideas across to the judging panel.
When companies have so little time to pack in so much information, the quality of the pitch can make a big difference. Here are five ways start-ups can improve their pitches.
1. Keep it Clear
When pitching your ideas, less is more. Make your pitch quickly and clearly to grab attention.
Avoid getting too technical or using jargon not everyone might understand. If the audience doesn’t know what your company does by the end of the pitch, you haven’t done your job.
Speak in plain language. Using analogies to explain your company is a good way to convey a lot of information in a few words. At the AIB Start-up Academy pitching session, Herdwatch described itself as the “CRM (customer relations management software) for cows”.
2. Avoid “Death by PowerPoint”
Marketing expert Guy Kawasaki coined the “10/20/30 rule” for making business presentations. Kawasaki is “chief evangelist” of online graphic design tool Canva, and he formerly held the same title at Apple.
The rule targets the common problem of using PowerPoint badly during a pitch. The presentation should be visually appealing and easy to digest.
The premise is this: You should use a maximum of 10 slides during your presentation. It should be no longer than 20 minutes. You should not use a font size less than 30 point.
3. Problem/Solution
Your company is the solution to a problem. Present that problem and why it needs to be solved at the start of your pitch. Then explain your solution.
The problem can be tied in with your story (see below).
4. Tell a Story
Be aware that at least some of the judges in the room listen to pitches on a regular basis. A good way to make them want to listen to yours is through storytelling. Telling a story makes pitches more entertaining.
An interesting story also humanises your company. Bill Reichert, founder of Garage Technology Ventures in Silicon Valley, has said: “[V]enture capitalists do not invest with their brains—they invest with their hearts.”
5. Be Passionate
One thing almost all the pitch day judges commented on was the passion and enthusiasm on display during the pitches. It impressed everyone in the room.
“I guess the most impressive thing was just how passionate and inspired the people are, and how driven they are behind their brand,” said Jill Downey, deputy managing director at Starcom.
