YC
Kevin Hale - How to Pitch Your Startup
@ Y Combinator
09/13/19
Takeaways
KH
Kevin Hale
09/13/19
@ Y Combinator
A startup idea is a hypothesis that explains why your company will grow quickly, consisting of three parts: the problem, the solution, and the insight.
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Kevin Hale
09/13/19
@ Y Combinator
The problem you address should be significant and widespread, indicating a large market with many people affected by it.
KH
Kevin Hale
09/13/19
@ Y Combinator
When presenting your solution, focus on the problem first rather than starting with the technology.
KH
Kevin Hale
09/13/19
@ Y Combinator
Your startup should have a unique aspect or unfair advantage that demonstrates why it will grow faster than competitors.
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Kevin Hale
09/13/19
@ Y Combinator
Many founders fail to read the guidance provided in the YC application, leading to common mistakes that could be avoided.
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Kevin Hale
09/13/19
@ Y Combinator
The YC application process emphasizes the importance of clearly expressing your startup idea to avoid missing out on opportunities.
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Kevin Hale
09/13/19
@ Y Combinator
You don't need to sell yourself to investors; instead, focus on clearly communicating your idea and its potential.
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Kevin Hale
09/13/19
@ Y Combinator
A good investor will listen to your pitch and envision the potential success of your startup, rather than just poking holes in your idea.
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Kevin Hale
09/13/19
@ Y Combinator
A clear idea is essential for growth, as it allows for organic expansion through word of mouth.
KH
Kevin Hale
09/13/19
@ Y Combinator
The best companies grow through word of mouth, which requires that people can easily remember and understand what you do.
KH
Kevin Hale
09/13/19
@ Y Combinator
When presenting, ensure your slides are legible enough for everyone in the audience, including those with poor eyesight.
KH
Kevin Hale
09/13/19
@ Y Combinator
Practice talking about your startup regularly to improve your clarity and effectiveness in communicating your idea.
KH
Kevin Hale
09/13/19
@ Y Combinator
To make your pitch clear, avoid ambiguity, complexity, jargon, and unnecessary preambles, and focus on being conversational.
KH
Kevin Hale
09/13/19
@ Y Combinator
Avoid using marketing jargon and buzzwords that dilute the clarity of your message, as they can lead to your pitch being ignored.
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Kevin Hale
09/13/19
@ Y Combinator
A great pitch is one that can be easily understood by anyone, even someone unfamiliar with your industry.
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Kevin Hale
09/13/19
@ Y Combinator
Your pitch should be straightforward, allowing the listener to grasp your idea without needing to ask clarifying questions.
KH
Kevin Hale
09/13/19
@ Y Combinator
When pitching, ensure your idea is reproducible by clearly defining the problem, the solution, and the target customer.
KH
Kevin Hale
09/13/19
@ Y Combinator
Airbnb is the first online marketplace that lets travelers book rooms with locals instead of hotels, which is concise and descriptive, allowing investors to understand what they're building and gauge their excitement.
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Kevin Hale
09/13/19
@ Y Combinator
Dropbox synchronizes files across your or your team's computers, presenting a refreshing and straightforward description without pretense, which helps investors connect with the idea.
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Kevin Hale
09/13/19
@ Y Combinator
Many company descriptions sacrifice clarity to appear larger or more interesting, which ultimately distances investors from the core idea.
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Kevin Hale
09/13/19
@ Y Combinator
A good company description creates a foundation for curiosity, prompting investors to ask the right questions about the team, traction, and customers.
KH
Kevin Hale
09/13/19
@ Y Combinator
Using the 'X for Y' framework can be useful, but it must be done correctly; the 'X' should be a well-known billion-dollar company, and the 'Y' should represent a significant market opportunity.
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Kevin Hale
09/13/19
@ Y Combinator
When using 'X for Y', ensure that the target market clearly wants the model being applied, and that it addresses a segment that is currently underserved.
KH
Kevin Hale
09/13/19
@ Y Combinator
The 'Y' in 'X for Y' should represent a huge market; if it sounds small, investors may worry about the potential for growth and whether it can become a billion-dollar company.
KH
Kevin Hale
09/13/19
@ Y Combinator
Lead with what your company does rather than why or how; clarity is essential for grabbing attention and making a strong impression on investors.
KH
Kevin Hale
09/13/19
@ Y Combinator
Conciseness in your pitch shows that you have thought deeply about your idea and can communicate it efficiently, which reflects on your ability to manage your business effectively.
KH
Kevin Hale
09/13/19
@ Y Combinator
When crafting your description, focus on the nouns that define your business; avoid unnecessary modifiers that dilute the core message.
KH
Kevin Hale
09/13/19
@ Y Combinator
A clear and concise description helps investors quickly understand your business and generates excitement, making it easier for them to engage with your idea.