After brainstorming the idea for a business plan, it might be a tad bit daunting to get started on creating and delivering slide deck visualizing the ideas that you want to deliver. In connection with the previous article, we will explain the guideline of delivering a startup-style pitch deck which is used for investor or funding presentation.
When creating or delivering your pitch deck, bear in mind that all the information should not be put in slides. Remember to be sharp, concise, and clear when communicating in order to ensure everyone in the table has a foundation for what is to come from your big idea.
“A great presentation gives smart ideas an advantage.” - Nancy Duarte
While the contents for the business plan can be the same with what we have already elaborated in the previous article, we will now discuss a few key points that can be used to communicate your business idea persuasively:
Always use communication as a resource
As an entrepreneur, resources can come in different types, whether it is tangible or intangible. In the context of presenting your idea, this refers to communication as an intangible resource. Moreover, we must contemplate how we can most effectively deliver our message as a presenter and thus persuade our audience to 'buy' our ideas. There are three main elements that you have to do to address the questions above; firstly, speak their language that resonates with their background and context, secondly, provide a roadmap or structure of your conversation, and thirdly, know your products or services' value propositions. These factors bring me to the next underlying themes about the power we can utilize as a presenter to persuade others.
The Power of Storytelling
According to research by Lovallo and Sibony in 2010, this concept can be defined as the tendency to remember and to believe more easily a set of facts when they are presented as part of a coherent story. The examples below illustrate the statement above:
Familiarity - "it's like that time..."
Relatability - "it's like that time you..."
Immersion - "and then you..."
Agency - "can you guess what will happen next?"
Simplicity - "hard work never betrays"
As a matter of fact, storytelling affects the brain. A story activates parts in the brain that allows the listener to turn the story into their own ideas and experience thanks to a process called neural coupling. With mirroring, listeners will not only experience similar brain activity to each other, but also to the speaker. Furthermore, the brain releases dopamine into the system when it experiences an emotionally-charged event, making it easier to remember and with greater accuracy. When processing facts, two areas of the brain are activated. A well-told story can engage many additional areas, including the motor cortex, sensory cortex and frontal cortex.
The Power of Rhetoric
Rhetoric is known as the art of effective or persuasive speaking or writing, especially the use of figures of speech and other compositional techniques. To master this technique delivery during the presentation, always remind yourself of the following factors:
Judicial - state just the facts
Demonstrative - assertion, praise
Deliberative - exhortation or dissuasion. Drawing on logic and emotion. Aiming to move rather than to teach
The Power of Analogy
An analogy is a comparison between two things and it can serve a purpose of explanation or clarification during the pitch presentation. To find the right analogy, ask yourself this question; "What does this remind me of? And why?"
Four Components of Elevator Pitch
Last but not least, it could be beneficial to know the proper structure of the pitch in order to communicate effectively and efficiently within the limited time duration:
Framing (and focusing) the problem
Summarizing the solution(s)
Giving the glimpse of the evaluation process
Recommending your business idea
To sum up, make sure to utilize the abovementioned information we get to offer and practice multiple times to make sure you can communicate persuasively and nail your next VC or funding presentation. To download our free business plan pitch deck template that can be used as the first step of applying for funding and mentorship from venture capital, refer to this link: bit.ly/hebeguidelinedeck