You have a great idea for a business, but it’s all in your head. How you articulate that vision is one of the biggest hurdles anyone founding a tech startup has to face.
It’s a complicated and difficult ordeal. The process of putting together a pitch, weaving a business case around your product and making sure it stands up to the most brutal lines of questioning is a convoluted and mind messing process.
The process was in full swing on the Australian StartupBus over the weekend. Five groups of Buspreneurs were refining their skills over a 72-hour period.
At first it was particularly easy to get sucked into a cyclone of buzzwords, cliches and rehearsed lines and bury the critical information investors or potential employees need to hear.
“Most people focus on the problem/solution pitch but they neglect to focus on the differentiation and vision,” StartupBus conductor Mitch Neff said.
But as they continued to practice the improvements were mind-blowing. These kids were learning on the fly and the effort started to pay-off on Sunday afternoon.
Here are some of the tips these Buspreneurs learned over the weekend.
- Never pitch hungover – You need to capture a room and to come close to that, energy and vision is king.
- Pitch a big vision – it gets people excited for fundraising or recruiting.
“The whole purpose of a pitch is to drive inspiration and action,” StartupBus conductor Mitch Neff said.
- Use imagery – It is one of the best ways to sell your vision.
- Understand your angle – there are plenty of ways to pitch the same idea, you need to figure out the best way to sell your startup to your audience.
- You have 30 seconds to WOW me – Even though your pitch might be five minutes or more you really only have 30 seconds.
“If you can’t explain everything you’re doing in 30 seconds you’ve got no chance,” StartupBus founder Elias Bizannes said.
- Be snappy and sharp – not everyone cares as much about your idea as you do. You should be able to explain what you do in a sentence.
- Prepare, practice and know your damn pitch. You need to get to the point where you know your pitch so well you can do it hungover, on the fly or on no sleep.
Alex Heber was on the road with the Australian StartupBus, a three-day trip in which a group of entrepreneurs will try to build a set of innovative technology companies over the course of a three-day bus ride. They returned to Sydney on Sunday journey in time for the SydStart finals.