Venture capitalist Ben Narasin has listened to more than 1,000 pitches per year from entrepreneurs over the years. One thing he can say from his experience is that “a lot of entrepreneurs don’t know how to pitch.” On the contrary, too many people don’t even know what a pitch is in the first place.
In this article, battle-hardened Ben Narassin teaches you how to pitch “this is the best” from a VC perspective.
As a venture capitalist, I’ve been participating in Y Combinator’s biannual “demo days” (pitch presentations) since around 2005.
In April 2021, Seed Accelerator Y Combinator held its 32nd Demo Day, with more than 300 companies pitching. All presentations were made using Zoom. Despite its reputation, Y Combinator is a great training ground for entrepreneurs to pitch.
Entrepreneurs have one minute to do it all.
Ben Narasin is a venture partner at New Enterprise Associates (NEA) and has a 25-year career as an entrepreneur himself.
I also run a website where any founder can send me a one-minute video pitch. If you send me a video pitch, I always reply with a video.
After hearing countless pitches over the years, I can say one thing.Far from knowing how to pitch, many people don’t even know what a pitch is in the first place.I’m saying that.
I’ve heard all sorts of things, from people who keep talking to themselves as if they’re going to be popular with the general public while the story jumps here and there, and people who talk at length about general theories that people seem to like.
A good pitch is one that tells the audience exactly what they want to know and is detailed and easy to understand.
A pitch isn’t about closing a sale on the spot. It’s about creating a space for people to listen. I’ve seen over 1000 pitches a year, ranging from 1 minute to over an hour. Of the more than 300 startups that participated in Y Combinator’s demo day this time, we will be interviewing about six of the best one-minute pitches.
From the standpoint of a venture capitalist who faces entrepreneurs across the table, I will introduce what I think is the best way to pitch.
1. Focus on 6 things in a 1 minute or less pitch
(Translated by Yukari Watanabe, edited by Ayuko Tokiwa)
Emma Warren is a well-known author and market analyst who writes for 24 news breaker. She is an expert in her field and her articles provide readers with insightful and informative analysis on the latest market trends and developments. With a keen understanding of the economy and a talent for explaining complex issues in an easy-to-understand manner, Emma’s writing is a must-read for anyone interested in staying up-to-date on the latest market news.