Investor Pitch - Slide 3: Problem or Need Statement
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Slide 3: Problem or Need
Now you need to introduce the investor to the problem you are solving. You cannot assume that that the investor will understand the need or consumer demand for your product or service. It may seem obvious to you, but you are biased from having worked on the product or service for so long. Remember, each potential customer segment sees things a bit differently. An investor is no different.
Back to: Entrepreneurship
Make it Meaningful
You need to demonstrate this need in a meaningful and memorable way. I recommend formulating a story to demonstrate the consumers need or want. If you are solving a consumer problem then think of a powerful story to tell about the problem that the customer encounters and how it affects his or her life. This makes the problem or scenario personal and more compelling to the listener.
Reference Multiple Customer Segments (If Applicable)
When you see that the investor understands the issue that you are addressing, you can quickly expand and show how this problem pertains to various types of customers. For example, this issue may present itself in a slightly different problem or to a different degree for different customer segments. Remember, you want to keep the words and information on the slide to a minimum.
You should use a few key words or figures from your story to demonstrate the problem. You may be able to include a picture or graphic that tells the story better than words. You may also want to include a graphic or numbers to demonstrate the various customer segments that your product or service addresses.