Pitching my Start-up idea

 Statistics Student Pitches his Start-Up Idea

The Pitch 

This is the most important aspect of your Start-Up. No matter how great your idea is, if you can't convey it and you don't have enough capital, then your start-up is useless. And if you can't inspire people and you don't have a team working for you then your start-up is useless. But wait what if I can make a product that doesn't require much capital and I don't need a team - I could do it by myself? Well, I mean if you can't convey your idea to customers then you are not gonna have any customers and if you don't have any customers then your Start-up is useless. In every interaction relating to your Start-Up, you will somehow require to pitch it. That is why it is essential to perfect your pitch.

Easier said than done, here are 7 questions that you should answer as clearly as possible.

1. What do you do?

- Be as clear as possible, no fluff no bs. To test it, the text test. Write two sentences regarding your start-up in a text and send it to a friend and ask them to explain it to you in their own words. If they can do that then you are golden.

2. How big is the market?

Investors care about Return On Investment (ROI). If there is no market for your product then their investment is not worth it. Don't make your target market too wide or too narrow. Make it correct. You are only wasting up people's time if you are making up numbers.

3. What's your progress?

You want to make sure that you are doing something, what is possible in a given time frame? What can you do?

4. What is your unique insight?

What is your competitive advantage? How are you different from the start-up next door? What makes you more likely to succeed in your market?

5. What's your business model? 

How are you going to make money? Are you the grow fast think about money later kind of company or will you be making money right away? It's always better to have a plan of attack when it comes to monetization.

6. Who is on your team?

What are your credentials? Who is technical, who is not? Who is doing what? Is everyone useful? Are you as lean as possible?

7. What do you want?

This could be capital, convincing someone to work for you, or simply telling your mom that you are actually doing something and you are not wasting her life savings on your pet projects and that this time it's going to blow up for sure. 

With this in mind, you will be able to do a good pitch