Home / Blog / Without A Clear Idea Of What A Startup Does, Investors Will Not Invest, Reporters Will Not Report, And Consumers Will Not Consume – Do’s and Don’ts of pitching
Guest post by Raphael Grossman – Solicitor at Lehman Walsh Lawyers
One of the most important things for a new startup to get right is its pitch. A good pitch will help you get your foot in the door. An average pitch is not memorable, and you will likely be left in the dust by your competitors. A poor pitch may spell the end before you have even started as it indicates to investors that things are poorly managed, and even if you have a great product you will leave a sour taste, and a poor impression is difficult to overcome.
Every startup is different, and there is no one size fits all pitch that will work for every business. However, there are some distinctive rules that every startup should keep in mind when considering how to make their pitch.
Do know your audience – one of the most important things to consider is who you are pitching to as this will give you the best chance of achieving specific results. If you are pitching to investors make sure you know the key indicators they are looking for in their investments. If you are pitching to reporters, make sure you give them a story they can run with and write headlines about.
Don’t go too long – often less is more, saying just enough will often get you better results and keep audiences more engaged and curious. You may have sold someone on your idea in the first 5 minutes and talking anymore is akin to overselling your product and losing a customer.
Do tell a story – be engaging and create a story that will pique interest, create mystery and will ultimately keep your startup in the memory of your audience.
Don’t be dry – people tune out when they get bored, try to mix in facts and numbers with interesting details and jokes to keep your audience engaged. A pitch that spends 10 minutes going into excruciating detail about its figures will almost always result in yawns.
Do include an exit strategy – investors need to know where the business is heading and how they can receive a return on their investment. This shows investors that you are savvy and have your eye on the bottom line as much as on the idea.
Don’t come unprepared – be prepared to answer anything and know your product inside out. There is nothing worse than not being able to answer a simple question by an investor as it shows you are not 100% committed to you idea.
Do be clear and concise – one of the most important things is to have a clear vision and direction and be able to explain it in as few words as possible. Not being specific and talking in generalities indicates that you do not truly understand your product. No investor wants to invest in a startup that is still finding itself.
Be the First to Comment!
White Collar crimes is a broad term which includes offences such as bribery including foreign bribery, cheating of consumer by directors, fraudulent misappropriation and obtaining benefit, credit or money by deception, certain misleading statements, insider trading,embezzlement, taxation offences, money laundering and other dishonesty related offences. The ever widening powers of enforcement agencies such as ASIC, the ACCC and the ATO means that the chances of prosecution are growing. Prevention and minimising risk and exposure is the key to a successful enterprise and that’s where Lehman Walsh can assist, by putting together relevant training programs for you and your staff. But if you do fall foul of the law, we can also assist you in reducing the damage to your reputation and that of the business, through our expert team of lawyers as well as access to external specialists.
When it comes to resolving disputes, we understand that your reputation, as well as your time and money, are major concerns. Our litigation and dispute resolution team will help you find the quickest and cost-effective solution.
Litigation should always be a last resort and our team has experience in a wide range of alternative dispute resolution options, including mediation and arbitration to assist you in resolving your legal issue the most effective manner.
If litigation is unavoidable, our litigation lawyers have experience in all jurisdictions, including Federal, Supreme, District and Local courts, the Land and Environment Court and also specialist Tribunals. We work closely with our clients to monitor the potential expenses and can provide ‘event costed’ estimates, where we charge for specific stages of the litigation. We always keep your commercial objectives in mind and are sensitive to costs involved.
Lehman Walsh Lawyers have the depth and breadth of all startup law covered. From incorporation, business structuring, shareholder agreements, buy sell agreements, registration and compliance through to contract negotiations, we can offer you outstanding advise that will put your business above the rest. If you need help with tax and superannuation, insurance or leasing arrangements for your premises we can help you with that too.
Startup lawyers at Lehman Walsh can provide you with advice on all aspects of intellectual property protection which includes trademarks, patents, designs, copyright, terms and conditions, social media policies and potential invention. Our specialist startup lawyers understand high-growth tech businesses whether it be technology licensing agreements, technology outsourcing and offshoring deals, corporate transactions in technology, telecommunications and new media or data protection sectors. Lehman Walsh has you covered for all things IP and technology related.
At Lehman Walsh Lawyers, we are dedicated to supporting the Australian startup community by providing cost effective legal advice to assist in the startup of your business. Lehman Walsh will take care of all the legal requirements of your start-up and are passionate about assisting in turning your dream into a reality.
We want to work with you with a duel focus on growing your idea and assisting you in taking the next steps in developing your business. We understand that your funding should be going towards your business growth, that is why Lehman Walsh is dedicated in providing affordable advice in all areas of commercial and corporate law, intellectual property and other issues that may affect emerging businesses in the startup space.
Lehman Walsh will gather a personal feel of your business, understanding your goals and your plans for the future. With this knowledge, we can give you appropriate advice to help you develop strategies to scale your business, enable positive disruption of the market and to combat anti-competitive behaviour that you may encounter. Correct legal framework and making the right legal decisions in the beginning of your start-up can be one of the most valuable investment decisions you will make.