1. Too many words on all slides
2. Simplify slides and include easy-to-digest graphics
3. Make your value proposition clear and spell out the problem you are solving
This is the second part of our three-part series where I react to real startup pitch examples from a Founder Institute - ASEAN FinTech event. I was a panelist at this event, alongside investment analyst, author, and founder Andrew Stotz. The event was facilitated by John D. Evans, CFA. The original event followed a 4+4 format, with each founder delivering a 4-minute pitch followed by a 4-minute Q&A session.
IIya Mikin's technology is a compelling solution to a $20B problem in B2B e-commerce: the low conversion rate of new visitors where ID verification is required. His startup 'Wall ID' aims to streamline the checkout process, claiming to reduce cart abandonment and increase conversion rates by 30%, while decreasing fraud by 80%. This is achieved through their end-to-end solution, which cuts down the customer checkout process from a lengthy six steps to two. A pretty big gain for both businesses, and customers themselves.
But does it solve a problem that is painful enough that businesses will go looking for a solution on?
The adoption of new tools in established B2B businesses can be a complex and time-consuming process. Will this require replacing existing providers? How many stakeholders need to be convinced for approval? Are ID providers already on board? It's a significant ask for businesses to implement new tech, and bringing in new vendor tends to be a career risk.
Take a look at the video for the full feedback from Andrew and I. Go, go now.
Ready to discuss your brand's challenges and growth pains? Don't worry if your next step isn't clear, we're here for a chat, not a pitch.