Earlier today I had the opportunity to spend a few hours at Flashpoint as part of mentors program. With demo day less than a month away on September 11th, many of the teams were asking questions about what should go in their pitch as well as any ideas or recommendations. Naturally, I asked each one what they wanted to happen 4-6 weeks after demo day so that they could work back from that (Covey: begin with the end in mind). Most referenced raising an angel round of a few hundred thousand dollars as the goal.
Assuming the most common purpose of a demo day / group pitch setting is to raise money, there should be one major goal: generate interest for an investor to want a follow-up meeting.
Many entrepreneurs get to a pitch session and inevitably throw up all the facts and information they know about their startup. A much better approach is to tell a story with anecdotes and social proof such that some investors resonate with the content and want to know more. Delivering a hook for the mind as well as an analog analogy is also great to incorporate.
The next time an entrepreneur is going to give their pitch to a group, remind them that the most important thing is to generate interest for an investor to want a follow-up meeting.
What else? What are your thoughts on the #1 goal in a demo day / group pitch setting?