One of the regular pitch practice attendees shared these with me today. Fred’s pitch for Garagistry.com has improved so dramatically over the last month that I would be remiss in not sharing these.
What is the problem in the marketplace that your product or service solves? Use one real-life example.
2. Product or Service
Describe your product or service. Make sure you explain this clearly so that your listeners understand the basic premise of what you do.
3. Target Market/Population Served
What is the target market size and potential for growth? Clearly identify and quantify the portion of the market your business will address. Who are your customers?
4. Competition and Competitive Advantage
Who are your competitors? Do you have an advantage over them? What are barriers to entry? What do you have that is proprietary?
5. Business Model and Financial Projections
How will your company make money? Include your revenue model and what you expect your revenue to be for the current year and in 5 years. If your margins are strong, share that. Mention whether or not you are profitable.
6. Management Team
Who is on your management team and why are they important to the company’s success? What is their experience in growing previous companies and what are their credentials? Are they well versed in your industry? Are there gaps in the team that will need to be filled to grow the company?
7. Milestones / Accomplishments
What are your key milestones and accomplishments to date? Have you raised funds? From whom? What are the major stages of product development? Identify major customers and partnerships.
8. Use of Funds and Exit Strategy
How much capital has been invested to date, how much are you raising now, and how will you use the new funds raised? What is your exit strategy? Who are potential acquirers?