charliegunningham.com – I’ve had to pitch in my time, and I’ve seen a few pitches (real and for competitions), and occasionally someone comes to pitch their startup business idea to me.
When judging the value of a pitch, here’s what I look for…
1. Solves an existing/large customer problem
The first thing I look for – is there a clear, sizeable customer ‘problem‘ this new idea is solving? So many pitches look like they are describing really cool ideas, but dig down a little deeper and there is no obvious problem being solved. I’ve run fowl of this myself. Launching aussiehome.com, we had an idea we were solving the problem of property searching, but our paying customers were real estate agents. There was no problem of property searching for them, buyers came to them anyway (and had done so for years) through newspaper advertising. We may have been solving the problem of property seekers, but they weren’t our customer, they weren’t paying us any money. It was real estate agents who paid (through monthly subscriptions) for our service. Once we got to know the real estate agents’ problems, we launched services for them. That kept us a alive (just)… but it was a close run thing, and an important lesson learned.
Read more about what to keep an eye on when pitching at charliegunningham.com