Real or perceived, a problem is what usually drives a customer to try a new product or service. Even if you offer your product for free, chances are that people won’t use it if it doesn’t help them solve their own concerns.
In creating your pitch presentation, you can’t just allot all of your time (and your slides) talking about your product’s effectiveness, value, ease of use, price, and various enticing feature. To get potential investors excited about your idea, they need to know about the issue that you want to solve.
According to career consultant, Shawn O’Connor, any business, whether you’re a budding startup or a big company, started out with a clear vision in mind, This vision isn’t only what you want to achieve or earn, but is often mostly also what your target market wants to earn from you.
You should show them that there is indeed a problem out there without an existing solution on the market. That is, other than the one you are offering. A good “problem presentation slide” is the best tool to use in this matter and help you build your case.
Before the Solution
The problem presentation slide is usually the second in a deck. You find it sandwiched between the elevator pitch, or overview, and the solution slides. This is, naturally, because the problem often comes before a solution. But also because this acknowledgement of the problem is what reels listeners in.
We’ve already established that people appreciate it when you know what they want. They’re willing to invest in a business that benefits them, rather than the other way around. Because of this, starting with the Problem slide before getting into the nitty-gritty of the solution you’ll be pitching is what actually interests them the most.
Make the presentation short and direct to the point, especially if you are presenting more than one problem. Use as few slides as possible in relating the problem to the audience. Preferably two to three will do. While you’ll want to elaborate your research on the market, lengthy presentations aren’t necessary. Just cut to the chase and pique their interests with key points.
Be the Solution
As it is, every problem presents an opportunity for a solution. Emphasize but do not exaggerate.
Your presentation should be enough to make your prospects believe that the market won’t be able to live without you. The description of your products should make the need for your product or service more pronounced and urgent. It should also set up the stage for your next slide: The Solution.
Every problem needs a solution — but often, this also goes the other way around. For a solution to come to mind, a well-defined problem is also necessary. Specifying a particular and plausible problem is the first step in creating your niche in the market.
Learn to leverage your brand with the right words and the right approach. Make sure to translate this on your deck for a convincing and effective presentation.
O’Connor, Shawn. “Step 1 for a Successful Startup: Identifying a Need in Your Community.” Forbes. April 9, 2013. Accessed May 16, 2014.