In these hectic times, when entrepreneurs are all striving to come up with a memorable and engaging pitch, I though it would be worthwile to put together a decidedly positive list of must-have words and terms when it comes to a well constructed pitch. This is my list so blame is on me if some good candidate words were forgotten. Here are those words which suggests to your seasoned listener that you know what you are talking about.
Global
These days it is so easy to build a tech startup that it is a must to focus on a global scale market. Be it the market of pet owners or intercontinental system integrators, you gotta focus globally. Once you try it, you realize that the world is surprisingly flat (another must read: "The World Is Flat" by Thomas Friedman). So, if your concept is not global, thing again.
Traction
It is not enough to aim for global markets – you have to reach them and be able to penetrate them. Traction is when you have interested users, customers growing exponentially in numbers providing valuable feedback to you about your good product-market fit. If you have traction everybody listens.
Lean
If you do it well, you do it in lean. The recent fad of Lean Startup and Lean Development is basically the fastest and most efficient way to develop a product or a service. It advocates seemingly trivial steps in product development – question your assumption, face your risks early on, ask your customer for feedback, do fast iterations of your product, come up with an MVP etc. All those principles that sound so familiar yet many entrepreneur fails to execute on them. Investors love to hear that you are doing it ‘in the lean’ because it suggests that you understand the proper way to find solution to a problem.
Commitment
When investors look at you they want to see the full picture. They invest in you, not only 9-to-5 but 24/7. They expect you to pledge all you have (focus, energy) before they would open the money taps. Committed people are also very attractive because they are goal and purpose oriented which are the earmarks of successful entrepreneurs. Remember, you have to be a full-time entrepreneur – actually, is there any other kind…?
Customer
Well, finally. The much avoided and dreaded stakeholder of your venture. The customer, whose money should be dearer to you than your investor’s. The customer who often make the mistake and fail to purchase your excellent product and often go for some real simple and uncomplicated replacement. Yup, the customer is often the last person entrepreneurs mention in a pitch yet every investor starts to listen when you address his/her role in the business model. Everything you do in your venture is ultimately judged by the customer so start familiarizing yourself with him/her before you craft your idea.
Serial
Serial Entrepreneur, that is. The ultimate buzzword. In today’s day and age it is really difficult to come by entrepreneurs who have ‘done it’ – it is even more difficult to find those who have done it multiple times. Like in any field, experience is gold in this industry. So, if you have anyone on the team who has participated in multiple ventures, do yourself the favor and emphasize it. Even better, ask him/her for introductions to the investor circles of those previous ventures.
Disrupt
Who wants to hear the pitch of a company doing average things, nicely fitting into the way its industry is operating? Well, not many investors, for sure. They want returns and returns do not come out of equilibrium. They want you to upset the tables at the party, throw over the rulers and claim the kingdom for yourself. And all this for a hefty fortune. Only shooting stars break the mold, as the saying goes. So everyone is looking for the next disruptor, that pesky little startup which will do what Skype did to long distance telephony and ATT, what iPhone did with introducing the smartphone segment to mobile phones. Break the rules – you will make them next time.
Of course, this list is no recipe, rather an imprint of what an intriquing pitch sounds like nowadays.