Jump to content
Invision Community
FORUMS BLOG/NEWS USER BLOGS USER MEDIA ADVERTS   ADD  MANAGE CHAT CLUBS & USER'S PERSONAL FORUMS LINK EXCHANGE
META-99 SEARCH ENGINE             CONTACT US
Sign in to follow this  
protonmail

17 - 20 : The Complete 35-Step Guide For Entrepreneurs Starting A Business

Recommended Posts

17. Use Consultants and Freelancers to Supplement Your Team

At the early stages of your startup, you will likely want to have a small employee team to minimize expenses. A good way to fill in for specialized expertise is to use freelancers or consultants. That way, you avoid taking on employee costs and benefits payments. And there are a variety of sites that can help you access freelancers, such as Freelancer.comGuru.com, and Upwork.com.

18. Have a Great Investor Pitch Deck

Startups frequently prepare a “pitch deck” to present their company to prospective angel or venture capital investors. The pitch deck typically consists of 15-20 slides in a PowerPoint presentation and is intended to showcase the company’s products, technology, and team to the investors.

Raising capital from investors is difficult and time consuming. Therefore, it’s crucial that a startup absolutely nails its investor pitch deck and articulates a compelling and interesting story.

Too many startups make a number of avoidable mistakes when creating their investor pitch decks. Here is a list of general do’s and don’ts to keep in mind:

Pitch Deck Do’s

  • Do include this wording at the bottom left of the pitch deck cover page: “Confidential and Proprietary. Copyright by [Name of Company]. [Year]. All Rights Reserved.”
  • Do convince the viewer of why the market opportunity is large.
  • Do include visually interesting graphics and images.
  • Do send the pitch deck in a PDF format to prospective investors in advance of a meeting. Don’t force the investor to get it from Google Docs, Dropbox, or some other online service, as you are just putting up a barrier to the investor actually reading it.
  • Do plan to have a demo of your product as part of the in-person presentation.
  • Do tell a compelling, memorable, and interesting story that shows your passion for the business.
  • Do show that you have more than just an idea, and that you have gotten early traction on developing the product, getting customers, or signing up partners.
  • Do have a soundbite for investors to remember you by.
  • Do use a consistent font size, color, and header title style throughout the slides.

Pitch Deck Don’ts

  • Don’t make the pitch deck more than 15-20 slides long (investors have limited attention spans). If you feel you need to add more information, include it as an appendix.
  • Don’t have too many wordy slides.
  • Don’t provide excessive financial details, as that can be provided in a follow-up message.
  • Don’t try to cover everything in the pitch deck slides. Your in-person presentation will give you an opportunity to add and highlight key information.
  • Don’t use a lot of jargon or acronyms that the investor may not immediately understand.
  • Don’t underestimate or belittle the competition (and never say “we don’t have any competition”).
  • Don’t have your pitch deck look out of date. You don’t want a date on the cover page that is several months old (that is why I avoid putting a date on the cover page at all). And you don’t want information or metrics in the deck about your business that look stale or outdated.
  • Don’t have a poor layout, bad graphics, or a low-quality “look and feel.” Think about hiring a graphic designer to give your pitch desk a more professional look.

For additional advice and a sample pitch deck, see How to Create a Great Investor Pitch Deck for Startups Seeking Financing.

19. Drive Traffic to Your Website

While entire books have been written on this topic, the key ways to drive traffic to your website are as follows:

  • Pay Google, Bing, Yahoo, or other search engines to send you traffic (such as through the Google Adwords program).
  • Build a great site with lots of high-quality, original content that is search engine optimized.
  • Have a smart social media plan to drive traffic from Facebook, Twitter, LinkedIn, and other free social media sites.
  • Get links to your site from high-quality sites.

20. Make Sure Someone Hasn’t Already Invented Your Great New Idea

Here are the key things to do if you have a great new invention idea:

  • Do a Google search on the keywords associated with your invention.
  • Do a search online of the U.S. Patent and Trademark Office at uspto.gov.
  • If nothing comes up and you want to get a patent for your idea, hire a patent lawyer.

But keep refining the concept of the invention, as version 1 of your idea probably can be improved and enhanced through version 2 and version 3.

forbes.com

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×
  • Create New...