StartEcuadorUp

LESSON 12,13,14 - Spartan Pitch test

http://www.startecuadorup.com/pitch

Today we completed the Spartan Pitch test. It's a 6 hours challenge in which the startup representatives practice their pitches 100 TIMES in one line!!!

During the test some complicating factors disturb the speaker like:

- full silence
- crowd noise
- small talk

Following this, the startup representatives should practice 10 times the pitch in front of mirror in the mornings and 10 times before bedtime in the next 10 days.

If you will participate firstly in a innovation competition or you have an introduction opportunity in front of investors you should start the Spartan test 10 days before the event.

Summarizing:

Spend 6 hours with practicing your Pitch in one line. Following this each night and morning practice your pitch 10 - 10 times in the next 10 days.

In this case, you practice your Pitch 300 times before your big day!

Your script will burn on your mind!

Just in this case you have a chance to paying attention on other extremely important details like body language, keeping eye contact or your voice.

Start to practice today!

LESSON 9 - Pitch Deck II: QandA

http://www.startecuadorup.com/pitch/

The main task for today was finalizing the Pitch Deck with slides related to the Q and A.

After your Pitch the investors may ask you about the followings:

-business model,
-the market size,
-the estimated payback time,
-your technology
-competition analyses
-already engaged people etc.

If you are well- prepared for these questions and can present some valid data on your ppt, you don't need to be afraid.

Much more slides must be designed to the Q and A part than to the Pitch itself.

LESSON 7 - Questions and Answers

We collected 48 essential questions that the investors may ask you following your Pitch.

This lesson is really important, because the Pitch is good for grab the attention but the investors make a decision according to your answers.

Your answers are the indicator about your preparedness:
If you know the numbers you don't need to be afraid.

We categorized the questions as followings:

- Your request
- Scheduling
- Payback time
- Intelectual property
- Organization chart

You also have to be prepared about the questions regarding the interest the investors may ask you. Its a TEST! If you accept a non realistic offer, you fail.

We pay a special attention on the Q and A while preparing the pitch.

Lesson 5 - Stage of your business

Today we reached a milestone at our Pitch Course. The innovators completed the text of their pitch!

They learnt about how to:

- describe the stage of their business
- calculate how much money they need to to finish their MVP and market launch
- count the payback time
- estimate the profit for the forthcoming year
- introduce their team
- polish their motto

The representatives started to practice their pitches and prepare themselves for the next topic: Business plan