As a startup founder, you know that the business pitch is the deciding factor when it comes to acquiring top-tier funding. In short, the business pitch deck should outline your company's unique value. Your job is to build a great pitch, rehearse it, and perfect it. Why? Your ability to clearly and succinctly explain your business idea will prove to investors that you truly believe in the long-term success of your organization.
When it comes to perfecting the business pitch, many of the most successful entrepreneurs benefit from modeling their approach after those that have come before them. Under these circumstances, there is no better business pitch deck example than the world's most successful peer-to-peer sharing application — Uber.
Business Pitch Deck Example: Why Uber's Pitch Worked
So why did their business pitch work and what can you do to emulate their success?
Uber was founded in 2009. At first, the company utilized taxi drivers for its ridesharing service. The idea behind the business was to position it around a convenient and easy-to-use mobile application. This application would allow passengers to instantly connect with a network of drivers. Now, users are able to reserve vehicles through the smartphone application. Additionally, users can track the vehicle as the driver makes his or her way to their location.
In this article, we've highlighted the top three aspects of Uber's winning pitch.
1. Explained the Problem
The best business pitch decks present a clear, widespread, and addressable problem. Uber explains that most taxicabs use aging and inefficient technology. For example, hailing is done by hand which results in considerable downtime between calling for a cab and pick up. Moreover, most taxicab drivers are forced to operate on sheer intuition when it comes to navigation. There has to be a better alternative, right?
2. Outlined Key Benefits
After explaining the problem, Uber outlined the key benefits of its service:
- Efficiency: Uber is an on-demand taxi service. Taxis arrive within minutes.
- Convenience: Uber makes it easy to call a cab. Simply swipe your finger.
- Affordability: Uber offers an affordable, pre-paid, and cashless billing system.
3. Showcased Early Traction
Next, Uber talked about some of its progress to date. Before meeting with investors, Uber created a basic website, secured an SMS code, filed for trademark, applied for the iPhone application development license, secured a bank account, and more. Furthermore, Uber went on to explain where the company was going:
- Raise a funding round.
- Finish development on its smartphone application.
- Introduce product demos.
- Open a small office in San Francisco.
Are You Ready to Scale?
Over the course of a few months, Uber disrupted an entire industry. What started as a simple idea was refined in a business pitch and "sold" to investors. The rest is history. Does your startup have what it takes to forge a similar path?
RocketSpace Startup Services is purpose-built for growth-oriented startups and scale-ups. Reducing the fundraising timeline by raising capital from strategically aligned investors is the single largest competitive advantage a startup can have, and it's one that compounds over time. RocketSpace leverages extensive investor relationships to expedite your fundraising journey. Through high-quality, hands-on, and customized coaching, RocketSpace will lead you to the right investor — fast!
