Virily Editor
Entrepreneurs are always looking for ways to stand out from the competition. They want their ideas, products, and services to be unique in a way that will make them successful. But what if you don’t have an idea? What if your product is already on the market? How do you find your niche? These eight things every entrepreneur should include in their pitch deck can help answer these questions.
1. Problem.
First, you have to find a gap. This gap will be your niche. Something is missing from the market or an idea is not being produced correctly. How can you solve it? In what ways would people use this gap you found? The gap needs to have a purpose that explains why anyone would want it in the first place.
If you are trying to find a gap in an already crowded market, then you need to be creative. Try looking into the gaps that aren’t being addressed, but should be. For example, even though there are many apps for various fitness routines some of which have millions of downloads, an app that helps users devise meal plans would fulfill a gap in this market.
2. Audience.
Who is your market? Which demographic will be interested in what you are offering? Be as specific as possible. Even though there might be gaps in the market, not everyone is going to want to fill them; who do you target? Who would benefit from this gap being filled and could potentially pay for it? How old are they and where do they live? What is their income level? This will help to determine if your idea has the potential to succeed.
3. Solution.
How does it work? How can you fix the problem that you found in a way that no one has done before and what is different about your idea than all the rest? Be detailed and explain how it will benefit your audience.
4. Business model.
How are you going to make money? Do you have a business plan in place? How is this plan sustainable? How can you pay for it when it grows and when the market starts demanding more than what you are currently offering? Think about these issues before pitching your idea or product, so that you can address them in your pitch deck.
5. Team.
That’s right, this is about your team because they are the secret sauce to every successful business. No matter what type of company or product you have, it is important to highlight who will be working on it and why they are qualified for the job. Show potential investors who you are and what you can bring to the table.
6. Financials.
If investors want to know how they will make money, then prove that your company is successful by sharing your numbers with them in advance. Based on previous data, projections should be easily attainable for this new venture. If not, create a unique plan to address how you will grow and why this specific idea is the one that will work. What sets it apart from everything else?
7. Milestones.
How long do you predict this project will take to complete? How much money is needed and where will it come from? How long until sales start coming in and how does your team plan on achieving this? Investors want to see that you have a plan and that you won’t give up if things get tough. This is just as important as having an idea and sharing it with the world.
8. Competition.
We all know that there is nothing new under the sun, so be prepared to share your competition with those who are interested in your idea or product. This will help to explain why yours is better and how it stands out from the rest. If you are struggling, look for other gaps in the market that aren’t being addressed by many people; this way you can make your competition irrelevant because there won’t be much of it.
To make the best pitch decks, we suggest you use Venngage — a free infographic maker that offers a wide range of pitch deck designs for everyone. To give you an idea, here are some pitch deck examples from their website!
Venngage
Venngage
Venngage
Your presentation deck needs to be short, sweet, and simple. The target audience shouldn’t have a hard time understanding what you are trying to achieve. It should give potential investors an idea of who you are and why this idea or product is the only one that matters when it comes to filling in that gap.
Once your pitch presentation is complete, remember to proofread every single word. Have someone else proofread it too. Present your idea in person with confidence and explain why you are the right person for the job. This is about passion so be prepared to demonstrate that through your delivery when pitching your product or idea.
Once again, keep in mind that having an idea and sharing it is just the beginning of a long journey that will require an even bigger effort to make it through. Be sure to stay consistent in your messaging, work hard on marketing, and always be willing to pivot when necessary. If you’re ready to make your own pitch deck, click here.
