In a first-ever for entrepreneurs, Ratan Tata puts together a startup pitch deck template on Instagram
Ratan Tata may have joined Instagram just over a month ago, but in this short time, he's already won over nearly 700K followers and wowed them all by posting rare pictures that offer a sneak peek into his personal life.
Now, the Chairman Emeritus of Tata Sons and Chairman of the Tata Trusts, has something else in store on his Instagram profile -- this time for the entrepreneurs in India's fast-growing startup ecosystem.
Ratan Tata put together a startup pitch deck for entrepreneurs after launching a poll on his Instagram.
Through the poll, he asked his social media followers whether they would like him to put together a basic pitch deck template.
To this, he received an overwhelming 97 percent 'Yes'. He went on to write, "Since it is a resounding "Yes", I would be happy to."
And write he did. He put up a link to a pitch deck he had put together, with an accompanying message that read:
"The young debuting entrepreneurs among you are setting out on your exciting startup journeys, but you’ve often asked what the first step might be. I have, with the help of my office, put together a basic entry-level pitch deck, which if nothing else, might help you collect your thoughts and get started. I encourage you to research its elements, and create your own recipe, that helps you seek investments and take your stories further, stories that I cannot wait to see succeed. Wishing you all the very best!"
The startup pitch deck -- a 16 slide PowerPoint presentation, watermarked Office of Ratan Tata -- details the most important aspects that should be covered in any pitch by a first-time entrepreneur.
It includes the Problem slide, which delves into the problem that a startup is trying to solve. He advises that entrepreneurs "Validate the problem with real-life examples."
Next, he focuses on the Solution to the problem as a separate slide, followed by one that spells out the Unique Selling Proposition -- or characteristics that make the startup's solution a "never-before" solution, as Ratan Tata called it.
The startup pitch deck also includes separate slides focusing on the business's Competition & Barriers to Entry, Revenue Model, Target Market, Your Product/Service, Milestones, Funding So Far, and The Team.
[Download the full startup pitch deck that's been specially put together for entrepreneurs by Ratan Tata here.]
Numbers don't lie
The illustrious industrialist added an additional 'Notes that might help' section at the end of his startup pitch deck. Here, Ratan Tata emphasises that entrepreneurs validate every possible slide with data.
"Numbers don't lie," Ratan Tata says.
In addition to his emphasis on numbers and data, Ratan Tata had the following helpful tips to share with entrepreneurs:
- It is usually not a great idea because you think so, but because your target market said so.
- Don't be afraid to recognise that it won't work and change direction or drop it completely. The right idea might be the next one.
- Getting funded does not mean success!
- Pitch less like a presentation, more like a story!
For his parting note, Ratan Tata has a personal message for entrepreneurs that comes straight from the heart:
"Best of luck! As long as there is that fire in your heart, you will find a way!"