The odds of obtaining a long-awaited investment are higher if you have a tangible product to show. Investors are willing to see that your product is beyond the conceptual stage and ready to bring revenue.
Integral Steps for a Successful MVP Pitch
How can you increase your chances of getting the desired financing? Here’s what you have to take care of before you go to the investors:
🟡 Build a functioning product that caters to your customer’s needs and solves their problems.
🟡 Prove traction by providing accurate data sets, customer feedback, and tangible metrics that validate the product’s feasibility.
🟡 Prepare financial calculations that show VCs the financial viability of your product and how you plan to spend the money investors give you.
🟡 Demonstrate your team’s expertise as investors want to be sure that your team is skilled enough to execute the plan successfully and that you can be reliable partners.
🟡 Showcase scalability by presenting a step-by-step plan for the product’s growth.
Tips on Pitching an MVP to Investors
What else should you keep in mind in order to raise the chances of securing funding? Let’s dive into a few life hacks and best practices on how to pitch an MVP to investors.
1️⃣ Remember to mention the key factors described above when creating an MVP pitch deck. It’s an awesome tool to visualize your main points and make your presentation easier to follow. A pitch deck is typically comprised of 10 to 12 slides that outline your primary messages. Include only accurate information and strive to keep it concise.
2️⃣ You need to prepare “proof, numbers, and data” as investors are eager to see that your product is feasible and profitable. But don’t overwhelm them with daunting charts and dry numbers alone. Show how passionate you are about this product and its potential impact on the market.
3️⃣ You should be ready to answer follow-up questions. Investors are cautious about risks, so they’re likely to inquire about some of your strategies. Be prepared to provide straightforward explanations to prove your point and show the ability to address potential concerns. Use user feedback, testimonials, and user-based data sets to demonstrate that your product is worth the investment.
4️⃣ You’d better invite your CTO to the meeting if you’re building an intricate tech product. Investors may inquire about the technical side, and having the CTO’s expertise on hand is vital for discussing its development. Thus, with their input, you can impress potential investors by giving accurate and concise responses to their questions, illustrating an in-depth understanding of your tech stack and dev strategies.
Is that all you need to know? There are more tricks to acing an MVP pitch, of course. Dive into the complete article to become even better-equipped for your pitch ⤵
