- September 22, 2023
- Posted by: EBAN Team
- Category: News
This article was drafted by EBAN and originally featured on the Bionanopolys newsletter.
Welcome to the world of EBAN events, where nailing the perfect pitch goes beyond mere skill – it’s an intricate craft.
Three plus Three Minutes ⏲
At EBAN events, time is of the essence. You have precisely three minutes to weave your narrative and leave an indelible mark. After your presentation, it is the expert jury’s turn to step in. Comprising of EBAN members and Business Angels, they have their own three-minute window to ask questions and seek clarifications. It is important to note that there will be a hard stop at the end of each three-minute segment, and no exceptions will be granted.
Crafting Your Perfect Pitch 🛠
Crafting a winning pitch is a blend of structure and creativity. While there’s no one-size-fits-all format, there are nine core elements to consider. Consider these as the foundational elements of your presentation, each playing a significant role in the narrative you’re about to unveil.
- The Problem: Dive into the world of your client, highlighting the need you’re addressing.
- The Solution: What’s your innovation? Share its benefits, its stage of development, and any unique credentials.
- The Market: Paint a vivid picture of your clientele and market landscape. Numbers speak volumes, so back your vision with data.
- The Competition: Embrace your rivals, but illuminate what sets you apart. Uniqueness is an essential part of your project.
- The Sales Strategy: How will your business thrive financially? Explain your revenue model, market penetration, and strategy.
- The Milestones: Outline your journey thus far and your aspirations ahead. Successes, recognitions, and future objectives, show your trajectory.
- The Leadership: Introduce your key players, their skills, expertise, and connections. Mentors, partners, and a growth plan signal strength.
- The Financials: Take a dive into projected incomes, margins, and cash flow. Past accomplishments and future ambitions complete the financial puzzle.
- The Funding: How much do you need? What’s your plan? Investors seek clarity on the journey ahead.
The Dual Nature of Pitch Decks ⚙
For your pitch to resonate, consider the platform you are on. On stage, simplicity holds the utmost importance. Big fonts, minimal text, and no more than three elements per slide are thus highly recommended. There’s no slide count limit, only a time constraint. Off-stage, during evaluations you should aim to provide more depth. Thus, we would recommend preparing a second presentation which contains additional information, without sacrificing simplicity and efficiency.
Rehearse until your pitch flows effortlessly. Stay on track, on time, and deliver with conviction.
Audiovisuals are your allies. Videos, graphics, and other multimedia can amplify your message, adding depth to your narrative.
The Ticking Clock: Punctuality Matters
Respect the schedule. Your delay will paint a negative and unreliable picture of you to the investors. Your punctuality reflects professionalism and dedication.
Capturing Attention in a Blink
Your goal is not to explain every detail, but to capture interest. Investors intrigued by your pitch will connect later, giving you ample time to delve into the complex intricacies of your project.
The Power of Simplicity
Use clear, concise language. Complexity doesn’t always impress. Speak professionally, but don’t get lost in technical jargon.
Building Trust Through Presentation
A clear, composed presentation builds trust. Manage your tone, be concise, and listen attentively. Your clarity mirrors your credibility. Be a good listener, being on stage does not imply you should have a monopoly on speaking.
The Art of Holding Back
You are not obligated to share all your trade secrets. Focus on what makes your venture special without divulging every detail. Investors admire honesty: everybody knows the concept behind Google and what a Ferrari is made of, what makes them special is how they make it happen.
Lasting Impression: The Contact Details
As your pitch concludes, leave a trail for interested investors. Share your contact details, inviting them to reach out.
The Evaluation Process 🔎
Investors are not there to buy your products, but rather to decide if it is worth it to invest their time, knowledge, network, and money to help you grow your business. They invest in companies, not products. Your pitch is therefore not a sales pitch; it is an invitation to a partnership. They evaluate based on:
- Value Proposition: Your business idea’s allure.
- Market Potential: The impact and scalability in the market.
- Execution Prowess: Your team’s capability to turn plans into reality.
- Financial Standing: Projections, past income, and financial strategy.
- Team Strength: Your team’s expertise and strategic alliances.
The Three Pillars of Success 📊
The “idea” is just one component of your company, so be sure not to leave out the other 2 key pillars of your business! Success is built on:
- The Idea: A solution to a real problem.
- The Team: A dedicated team turning ideas into reality.
- Execution: Making the idea and team thrive amidst competition.
Minimizing Risk, Maximizing Honesty 📉📈
Embrace your vulnerabilities. Address weaknesses and propose solutions to showcase your diligence and preparation. Investors will get alarmed if they notice you hiding sensitive parts. Honesty appeals to investors, but evading it does not.
Crafting a compelling pitch is not just about the words you say. It’s about weaving a story that resonates, backed by a solid foundation of strategy and preparation.
At EBAN events, the stage is your canvas, and your pitch is your masterpiece.