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Startup Storytelling: How to Pitch an Idea to Investors

Startup storytelling helps founders turn an idea into a message that investors and customers can understand. A strong product and business model matter, but founders must also explain the problem, the customer and the future opportunity with clarity. In this episode, Christian Ries joins Sally Williamson to discuss how his startup story evolved and what he learned from pitching different audiences.

On today’s episode, we’re chatting with first-time entrepreneur Christian Ries about storytelling, professional entrepreneurship, and pitching to investors. Christian can attribute much of his success to his growing storytelling abilities and customer-focused approach. Learn about his techniques and evolution as he tells us his story today, from the very first thought that sparked JonnyOnIt.

Show Highlights

2:00 How did Christian come up with the name JonnyOnIt? What’s his background?
5:00 How has the business done so far? How has putting the customer first impacted that? How does Christian see himself compared to serial entrepreneurs and how much does he need to learn?
7:00 Is there more to successful startups than the big three—great dea, funding, and ability to tell a story? How important is it to articulate your message well? How hard is it to work with investor audiences? Should you expect particularly difficult questions when telling your stories?
10:00 How did the concept of having perspective from actual realtors impact investors? Why is it so important to show investors more than just a good product? Why do you need to first understand your customer?
12:30 Why should you look forward in an investor pitch more than tell them what you’ve done already? How should new startup founders limit explaining their track records?
14:00 Should you tell the same story to investors as customers? Should you focus on everybody?
17:00 How has Christian’s story changed over time? How did it progress from “how” to its current, engaging form?
24:00 Stories that are remembered and repeated are the most powerful. What is Christian’s experience with this regarding investors, large audience speeches, and other entrepreneurial events?
29:30 What’s ahead for 2019? Who is involved in Christian’s team?

Guest Information

An established entrepreneur and proven leader in the sales and technology industry, Christian Ries does what he says he’s going to do. In just under a year, he has not only founded and grown his home services business—JonnyOnIt—but has expanded it and has continued plans to increase its geographic footprint in 2019 and beyond.

JonnyOnIt is a mobile app that instantly connects homeowners (in real time) to hundreds of home service providers, like electricians and plumbers, saving both parties time and money.

Driven by original thought, interpersonal skills, and technology orientation, and with an extensive background in marketing, sales, and project management, Christian possesses a unique talent for integrated marketing and brand voice development. He devises strategic initiatives, builds efficient and cohesive teams, and inspires progress using a modern, hands-off leadership style.

You can find more information about Christian on Linkedin:

https://www.linkedin.com/in/christianeries/

A good idea does not explain itself.

Founders may understand exactly how a product works, why they created it and what makes it different. Investors, customers and potential partners still need a clear reason to care.

Startup storytelling helps founders turn an idea into a message other people can understand, remember and support.

In this episode of What’s Your Story?, Sally Williamson speaks with entrepreneur Christian Ries about startup storytelling and the development of JonnyOnIt, the lessons he learned from pitching investors and the ways his story changed as he came to understand his customers more clearly.

Startup Storytelling: A Startup Needs More Than a Good Idea

Founders often focus on three essential needs:

A strong business idea
Access to funding
The ability to execute

But each of those elements depends on communication. This is startup storytelling.

A founder must explain the idea clearly enough to attract early customers. The opportunity must be compelling enough for investors to consider. The direction must be understandable enough for employees and partners to help build it.

Startup storytelling connects those audiences with the problem, the solution and the future the founder wants to create.

It answers:

What problem are we solving?
Who experiences that problem?
Why does it matter?
Why is the current approach insufficient?
What makes this solution different?
Why is this the right time?
What evidence suggests the opportunity is real?
Why is this team equipped to pursue it?
What could the business become?

A startup story is not simply the history of the idea. It is the case for why the idea deserves a future.

Startup Storytelling: Begin With the Problem, Not the Product

Founders naturally become excited about the product.

They have spent months or years thinking about features, technology and execution. When they pitch the idea, they may begin by explaining how everything works.

The audience usually needs a different starting point.

Investors and customers first need to understand the problem.

A strong opening establishes:

Who experiences the problem
What makes the experience frustrating or costly
Why current alternatives fall short
How frequently the problem occurs
What is at stake if nothing changes

Once the audience understands the problem, the product has a meaningful role in the story.

Without that context, even an innovative solution can feel like a set of features looking for a reason to exist.

Startup Storytelling: Understand the Customer Before Telling the Story

The founder’s perspective is important, but it is not enough.

Founders need to understand the people who will use, recommend, purchase or support the product. That understanding should shape both the business and the story.

Useful customer questions include:

What is the customer trying to accomplish?
Where does the current process break down?
What does the problem cost in time, money or confidence?
Which alternatives does the customer use today?
What concerns might prevent adoption?
What would a better experience look like?
How would the customer describe the value?
What evidence would make the customer trust the solution?

Christian’s experience reinforced the importance of startup storytelling and perspectives from people close to the customer and market. Actual users and industry professionals can reveal assumptions the founder may not recognize.

They can also provide language that is more credible than the company’s internal terminology.

The strongest customer story often begins by listening to how customers describe the problem themselves.

Like what you hear on startup storytelling? Hear more episodes like this on the What’s Your Story podcast page!