Secrets to success:
How to master your startup pitch
Nailing the pitch is the key to success for any startup – but it’s also where many of them falter. That’s why Brisbane Business Hub invited Tyson Jennings, ilab Program Manager at UQ Ventures, to explain where founders flounder and share his tips for startup success.
Based at the University of Queensland since 2012, UQ Ventures is a community of entrepreneurs, staff and alumni helping Brisbane startups find their footing. Ventures offers programs, mentorship and scholarships to university-affiliated entrepreneurs.
Tyson joined UQ Ventures fresh off the success of his startup, Yodel, an app building service for businesses and hobby communities. Now he oversees ilab, a three-month accelerator program that sponsors startups with serious potential and prepares them for market. Ilab has helped more than 200 startups secure a combined $75m in additional funding.
Want to sharpen your startup pitch? These expert tips from Tyson are a great place to start.
Pitching is storytelling
According to Tyson, every good pitch tells a story.
“Storytelling is human hacking,” he explained. “We’ve used storytelling for tens of thousands of years. We told stories to survive – don’t eat those berries, don’t go into the woods. Our brains are hungry for it.”
Tying your pitch to a good story is an easy way to keep the audience interested, engaged and curious. And as with any good story, the audience should want to know how your pitch ends.
Lay the foundations
Tyson presented a simple, failsafe pitch structure that can be adapted for everything from a 60-second elevator pitch to a full investor presentation.
Begin by identifying the audience. Who is the startup pitching to? It’s one of the most common areas founders overlook, Tyson explained. A pitch that resonates with your startup’s users might not connect with investors, especially if you assume shared experience or technical knowledge.
“You should have an idea of how your audience feels and thinks,” he said. “You know what they want from you.”
Avoid using jargon and explain your solution simply. “If you’re trying to present something kind of complicated, aim at a 12-year-old’s understanding,” Tyson said. “If they can understand it, so will everyone else.”
He also stressed the importance of being specific. Founders should avoid vague language like “platform” and clearly explain what their product is and how it works.
Once the audience is clear, define the problem your startup solves, who it solves it for and why it matters. Founders who genuinely understand their user’s needs and fears are more likely to connect authentically and convincingly.
Finally, be clear about your solution and what you’re asking for – whether it’s investment, a pilot opportunity or feedback. And make sure to ground the pitch in purpose.
“The most important part of every pitch,” Tyson said, “is knowing why you’re there.”
Public speaking: Tips and tricks from a pro
Even if you’re not preparing for a slam-dunk startup pitch, there’s plenty to take away from Tyson’s pitching masterclass.
Step one? Throw away the script.
Yes, really. Tyson finds that speakers spend too much time crafting and memorising the perfect script. A stiff, over-rehearsed delivery is a telltale sign of over-scripting.
Most of the time, things don’t go exactly to plan. Speakers who plan for the unforeseen have an advantage over speakers who rigidly adhere to a script. Tyson likens scripts to a train track: Plan your pitch, but be prepared to adapt and switch courses – or risk crashing the train. This takes practice, he says, but practice makes perfect.
“Word choice is important, but it’s only seven percent of the journey,” Tyson told the workshop.
“How you project to the audience is far more important.”
This means maintaining good eye contact and modulating your tone of voice. Think about how the audience will perceive you. Do you recite your pitch in a monotone (snoozefest!), or are you varying your pitch, tone and speed appropriately? A dynamic delivery helps engage your audience and hold their attention, even when the content of the pitch is lacking.
Keeping your posture strong and open projects your voice to the room – and your confidence.
“Here’s one of my best tips,” Tyson shared. “Before you give any presentation, put your feet shoulder width apart and your shoulders back. Take a deep breath in – this allows you to use your diaphragm to project your voice.”
Tyson left us with one last insight – and it’s a big one: “If somebody had told me this when I first started pitching, it would’ve saved me so much anxiety and money at the therapist,” he laughed.
“When you’re doing a presentation, nobody besides you knows if you’ve missed something. It’s OK – nobody knows that you skipped the part about your gross margins.
“So condense your material – work off one or two points per slide, not a script. And finally, practice. The more you know your content, the more secure and confident you’ll feel.”
