Tech meetups are a great way to mingle with other like-minded people and to discuss the latest trends in the industry. Many times, attending a meetup offers a chance to meet passionate entrepreneurs who, based on their past successes and failures, can teach you a thing or two about how to make a real business out of a simple idea – and how to sell that idea to investors.
During his recent trip to Tel Aviv, Quixey CEO Tomer Kagan and the Quixey Tel Aviv office organized a meet up focused on “How to pitch your startup.” The goal of the meetup was to teach entrepreneurs, developers, inventors, and anyone with an idea the best ways to sell their ideas to VC firms and larger audiences and get them interested in a product.
The night kicked off with Tomer’s presentation on how to pitch your idea, during which he encouraged the audience to participate and ask questions. After the talk, Tomer mingled with the attendees, answered follow-up questions and helped refine pitches.
Here are a few highlights from Tomer’s presentations on how to pitch your idea to VCs:
- Kick off every meeting, whether you are pitching a VC or a friend, with a quick summary of everything you’d like to talk about. You want to let your audience know what to expect.
- Make sure you highlight your vision. VCs look at things like vision and team to gauge potential; current progress isn’t that important at seed level.
- Be really excited about your vision – if you are not excited about your idea, who should be?
- Paint a clear picture of the full potential of your idea. Then bring the pitch back down to today – explain how you plan to get to your vision from the present state.
- Talk about your go-to-market strategy.
- If you have a team, highlight it. Show the investors that you have a team that is fully dedicated and very passionate about your idea.
- When you’re talking about competition, make sure you position yourself well in the market: describe a future in which your company is the market leader.
- Conclude your pitch with a summary, repeating everything you said during the meeting in 30 seconds.
One of the most dangerous parts of pitching your story is getting sidetracked by questions. You have to be able to answer the questions and bring yourself back to your story. That is possible only if you know your points well and are able to connect every question back to that point. Make sure you practice your pitch, ask for feedback and then refine it until you have a formula that works.
Best of luck pitching your startup!