Augment Lesson #1: Pitch Perfect
What makes a pitch a perfect pitch?
We asked our Managing Director, Sonali Vijayavargiya to share with us her best advice for entrepreneurs looking to raise funds. Check out what she believes makes the founders successful:
- Keep it simple. New ideas and decks are constantly being thrown at venture capitalists. What makes your pitch different from the pack? Keep your pitch crisp, concise and digestible. No matter how complex the idea, it’s imperative that it can be explained to any individual outside your field or domain of expertise. Less is more!
- Play to your strengths. What does your team do well? Subject Matter Experts? Unique Idea? New Design? Execution Leadership? Shout your key differentiator from the rooftops. Explain the moat you have created or are creating to keep competition from catching up.
- Know the numbers. The ability to lock down early-stage funding may not require complex financial modeling, but metrics are still key. Understand and calculate the addressable market, market share and and market value within your target segment. Be a KPIs Ninja – Key Performance Indicators are important.
- Don’t just sell the product, sell yourself and your team. Storytelling is critical. VCs are not only investing in your idea, they’re investing in you and your team. VCs are looking for long-term relationships that will remain positive and viable.
- Make your ask. Articulate your ask – clearly, precisely and boldly. Recognize that VCs have an extensive rolodex in addition to their checkbooks. State your ask both for dollars and expertise – technical and managerial.
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