How to model Startup for Success

 

Every time is the first time. And every new customer you meet, it is the first time that you would be making your presentation.

The key is to create your pitch to every prospect with the same spirit, hardwork, efforts, to establish your credibility.

Here is a sure-shot formula for success in your business, i.e. WxWx3Ws+H

a. The first W is the Why of your business. Mission of your organisation or your offering. Why are you in the business you are in. Be clear. Be specific. Till the time you take it beyond your own self, you won’t find the true mission of your work. This is the core, the entire spirit of your engagement, or in short, the purpose of your being.

Each one of us is Born to Serve others. Ask yourself, how does your product or service is making a difference in the life of others. What problems it is going to solve?

b. The second W is to be multiplied, because this is another crucial element to your success. Who? Who are the people whom you intend to serve. These are the people, your customers, for whom you have devised the product. Do you know all these ‘people’ who are going to make a success of your business? They are both internal and external.

Internally, they are your cofounders, collaborators, investors, board of directors, and the entire team members, down to your office boy and tea-wallah, sweeper, etc.

Externally, the ‘WHO’ form the largest chunk who are the reason for your existence. Your distributors, dealers, channel partners, logistics support, vendors, retailers, customers, and their families, the community,
the media, the government, financial institutions, etc.

Once you start drawing your list of ‘Who’, you will be surprised to know how you need to create strategy to reach out to all those people.

c. Theeafter we have 3Ws, i.e. What, When, and Where. They relate to your product/services, the team of experts, your USPs and technical advantages over competition, when can one get them (or the timing factor) and where.

d. The H, How, explains the process you are going to adopt to solve the people’s problems. In the online domain you would find thousands of replicas of various products, but only one amongst them excels and shines just because of the excellence in execution, which is the differentiator.

When you pitch to your client, your presentation should not be more than 6 to 7 slides, because no one has the patience and time to go through lengthy presentations.

Your passion and knowledge about your product and how it connects with the prospective customer, would not require longish explanations. Keep them Short and Sweet.

The first slide, Why would take care of your values and objectives, while your research on Who would matter the most.

Before the pitch, study your customer/prospect whom you are going to make the pitch.

Don’t keep it general.

Modify it to suit specific issues that your prospect is facing, which would require a little research about the organisation to whom you are approaching. Address their specific needs, and you have hit the nail.

Take care.