Harvard i-lab | Startup Secrets: Getting Behind the Perfect Pitch | Summary and Q&A

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October 31, 2012
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Harvard Innovation Labs
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Harvard i-lab | Startup Secrets: Getting Behind the Perfect Pitch

TL;DR

Learn how to create a great pitch, cover all the essential elements, understand what VCs are looking for, and build a successful business proposition.

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Key Insights

  • πŸ‘¨β€πŸ’Ό A great pitch should have an orientation, clearly defining what the business does and why it is unique.
  • πŸ‘¨β€πŸŽ¨ It is essential to articulate the problem being solved, the pain and need associated with it, and how the solution is a breakthrough.
  • πŸ‘¨β€πŸ’Ό Having a vision and mission for the business helps demonstrate long-term goals and leadership in the market.
  • πŸ‘¨β€πŸ’Ό Understanding and addressing competition is crucial, as well as building a defensible business model.
  • πŸ₯Ί Marketing and sales plans should be formulated to create awareness, generate leads, and secure customers.

Transcript

hi I'm Michael Scott we're here at the Harvard eye lab tonight to talk about getting behind the perfect pitch this session is designed to do three things first it's a framework for you to understand how to put together a great pitch to a VC and second within that framework it covers a number of the elements that you might consider key to putting yo... Read More

Questions & Answers

Q: What does the content suggest is the most effective way to start a pitch?

The content recommends starting with a concise statement that clearly describes what the business does and why it is unique. This serves as an orientation for the audience.

Q: How can entrepreneurs make their pitch more compelling?

Entrepreneurs can make their pitch compelling by clearly articulating the problem they solve, the pain and need associated with it, and how their solution is a breakthrough in addressing that problem.

Q: What are some important factors to consider when thinking about the market opportunity?

It is important to have a top-down view of the market size, as well as a bottom-up view that considers specific target segments and their potential revenue contribution. Understanding the competitive landscape and barriers to entry is also crucial.

Q: How should entrepreneurs think about creating a sustainable business model?

Entrepreneurs should think beyond just the technology and consider other factors such as distribution channels, partnerships, and unique value propositions that can create barriers to entry for competitors. Aligning revenue streams with customer needs and finding alternate benefits can also contribute to sustainability.

Summary & Key Takeaways

  • This content provides a framework for creating a compelling pitch to a venture capitalist, covering key elements such as value proposition, business model, and go-to-market strategy.

  • The importance of storytelling and authenticity in a pitch is emphasized, along with the need to understand the target audience and their specific needs.

  • The content also introduces the concept of a vision and mission for the business, as well as the importance of identifying and addressing competition and building a defensible business model.

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