The difference between a great startup pitch and all the others is the founder’s ability to tell a compelling story about why the startup represents a valuable opportunity for investors. Being able to tell such a story could mean the difference between getting an investment and getting ignored.
You must be able to connect emotionally with investors, while providing a clear, concise and coherent explanation of what your startup does and why it matters.
You may have extensive industry knowledge, thorough market research, deep technical skills and a command of all the facts and figures related to your startup. But it all means very little if you can’t weave these advantages into a compelling story.
The most effective way to tell a story is to follow a well-established structure that is the basis for virtually all stories you’ve read, heard or viewed. Use this story structure, slightly tailored to address the narrative for a startup, to write the story about why your startup is worth the investment.
Here is an example of how you can use the seven story elements to tell your story.
The example is just a starting point to get your thoughts flowing and help you create a more compelling pitch. Adjust the sequence of story elements and narrative topics as you see fit to match your style.
Use your imagination in applying this story structure to your startup. Include additional topics, such as business model, market strategy and traction, depending on the time you have available, to help you tell a better story.
Start of Example
Character (Customer, Persona)
Meet Imani. Imani is a 35-year-old mother of two who works full-time as a nurse.
Setting (Situation)
Despite her busy schedule, she maintains her passion for good health and wellness.
Unfortunately, healthcare’s rising costs, inefficient systems, and outdated technologies make it difficult for Imani to get the care she needs.
Conflict (Problem, Pain Points)
So, when Imani visits the doctor, she must wait for long periods, especially when the staff is running behind schedule. She becomes frustrated and anxious, and sometimes sacrifices her health.
She has sought solutions to her problem but has yet to find one that is customizable to her needs.
Backstory (History, Purpose, Team)
Like Imani, I have had the same challenges, which have led to my own health issues. That's why I founded Holistic Health and Healing Technology (H3Tech) to revolutionize the way patients obtain healthcare.
At H3, our purpose is to empower patients to take control of their health by providing them with the tools and resources they need to make informed decisions about their care.
Our team has in-depth knowledge of the healthcare industry and strong technical expertise with related healthcare tools to develop our solution.
Plot (Journey, Competitors, Solution)
Imani has evaluated other competitor solutions on the market, but she felt they didn’t offer all the benefits she wanted.
With our platform, Imani was able to connect with her doctor virtually, without having to wait in a crowded office. She was able to get the care she needed quickly and easily, without the stress and frustration of a traditional healthcare experience
Our platform uses a combination of artificial intelligence and machine learning to create personalized health plans for each patient that are accessible and affordable.
The platform analyzes medical history, genetics and lifestyle, identifies potential health risks and recommends preventive measures.
Patients can conveniently track their progress, receive real-time feedback and connect with healthcare professionals.
Resolution (Benefits, Results)
In one example, a 45-year-old customer with a family history of heart disease was able to dramatically reduce his risk of heart attack by following the personalized health plan recommended by our platform.
In another example, a 30-year-old customer with a history of migraines was able to identify the triggers causing her headaches and make simple lifestyle changes to prevent them from reoccurring.
What’s Next (Funding Request)
We're seeking $500K in this first round of funding to progress the MVP to the final product and to make our platform accessible to patients in other cities.
With your investment, we'll be able to scale our operations, build out our team, and continue to innovate in the healthcare space.
Together, we can make personalized and preventive healthcare accessible and affordable to everyone. To simplify the process, we’ve prepared a blank check for you to sign. We’ll fill in the details later.
End of Example
Conclusion
Telling a compelling story begins with a story structure. You can use the above story structure to help you get started on crafting your own story.
You can include more pitch topics, such as business model, market strategy, traction, to highlight additional value and make a stronger case.
You can also restructure the story elements to tell the story in your own way to increase the emotional connection with investors.
Be sure to end your pitch with a strong, memorable statement that summarizes the key topics of your story and gives investors clear and compelling reasons to invest in your startup.