What are the secrets to delivering a confident VC pitch?

Imagine you have a startup that focuses on renewable energy solutions, and you're looking for investment. You wouldn't pitch to a VC firm that only invests in healthcare technology, would you? Instead, you'd look for VCs interested in green tech, maybe those with a history of investing in sustainability. Knowing they care about reducing carbon footprints, you'd highlight how your startup does that effectively and at scale.

Some VCs are very technical and will ask a lot of detailed questions. Some are focused on big picture market questions. Try to find out, or be ready to adapt to, their expectations. One way to do this is have a short teaser deck you send out ahead of time. And then have a longer deck with science, market, and other details that you can quickly switch to if there is interest.

Let's say you've developed a mobile app that helps individuals with diabetes manage their sugar levels. Instead of starting with the technical details, you could begin your pitch with the story of Sarah, a single mother struggling to manage her diabetes while juggling work and family. Describe how Sarah's life changed dramatically for the better after using your app. This humanizes the problem and makes the VCs more invested in your solution. A well-structured story often has a beginning, middle, and end, referred to as the "narrative arc." This arc helps in making your story coherent and impactful.

Another point is how to gather this data effectively. Early-stage startups might not have significant revenue or user numbers. In such cases, other forms of validation like pilot programs, Letters of Intent from potential customers, or even well-conducted market research can be valuable.

Suppose you're pitching a tech startup that has developed a new kind of battery technology. Your team consists of a lead engineer who used to work at Tesla, a business strategist with experience in renewable energy, and a marketing expert who has successfully launched similar tech products. Sharing their bios, photos, and past achievements can strengthen your pitch by showing that you have a "dream team" that can execute the vision and stand up to challenges. For early-stage startups, the focus might be more on the founders and key team members who will drive the initial growth. For more mature startups, VCs might be interested in the broader team structure, including advisors and board members.

Imagine you have a startup focused on telemedicine for rural areas. Your vision might be to make healthcare accessible for every individual in remote areas. Your mission could involve specific strategies like mobile healthcare vans, teleconsultations, and partnerships with local governments. For the roadmap, you might show a timeline that includes pilot testing in one rural community, then scaling to multiple regions. Demonstrating that you've considered long-term growth and are open to adapting your model based on results would catch a VC's eye. Knowing what a VC is interested in can help you tailor your vision in a way that resonates with them.

The startup journey will be longer than the founder expects. VCs want to see that the founder, and extended team, has a strong vision. This vision will help the company survive and surmount the difficulties of being a startup.

One thing I have found helpful is to practice the pitch 3 times. Then practice with a friend or colleague to get feedback. Then refine the deck, and practice 3 times again. At this point, you might be ready to practice informally with a VC friend. Think about making 2 decks: one short, "teaser" deck you will email out, and a second longer deck with more details on approach, market, and finances. You can also have an appendix in the longer deck, with a slide addressing each question not already answered elsewhere.

1. What is the problem you are solving? Why is it a problem worth solving?? 2. What is your solution? Why is your solution better(cheaper, faster, etc.)?? 3. How does your business make money?? 4. Who are your customers? How will you reach them?? 5. Who is on your team? Why are they best to execute?? 6. How much are you raising? How will you spend money? What can you achieve and when after funding?