Pitching Without Product-Market Fit: Master the VISION Framework

September 24, 2024

Vision.

This one word is like 3D glasses. Because when you have vision you can offer people an insight into what you mean, what you do, what you say.

Similarly, vision is also about awareness. Being aware of what’s happening around, what any situation demands, and how you need to have the vision to adjust.

Vision, in short, is more than just sight. This holds true when you’re pitching your product to SaaS investors.

When you’re pitching without product-market fit, the future you’re building needs to be so vivid that investors want to be a part of it.

Your investors are betting on the world you’re striving to create.

Investors look for signs of potential, such as strong customer interest, even if the product isn’t fully validated yet

So, how do you make sure your vision resonates, especially when your product is still finding its market?

This is where the VISION framework comes in. It’s designed to help you craft a pitch that’s clear, compelling, and convincing, even when some pieces are still coming together.

V – Vision

I – Insights

S – Strategy

I – Iteration

O – Opportunity

N – Network

What Investors Are Expecting

Even if you haven’t achieved product-market fit, investors are looking for a vision that’s bold and believable.

They want to see if you have a deep understanding of the problem you’re solving and a clear idea of how your solution will change the landscape.

Investors need to feel confident that your vision is not just a dream but a carefully thought-out plan with a clear path to success.

In your pitch deck, this means:

Clear Communication: Your vision should be one of the first things investors see. Make it compelling and easy to grasp.
Market Potential: Show that your vision is supported by a strong market opportunity. Even without product-market fit, investors want to know that there’s a significant need for what you’re creating.
Strategic Execution: Demonstrate that you have a plan to turn your vision into reality. Investors expect to see how you will achieve your goals, even if the path isn’t fully defined yet.

Let’s get into detail now.

V – Vision

Your vision is the North Star of your startup.

When you haven’t yet achieved product-market fit, your vision becomes the cornerstone of your pitch.

Investors need to see not just what your startup is now, but what it could become.

How to include VISION in your Deck

Your vision should be the first big idea investors encounter in your pitch deck.

After you’ve outlined the problem, immediately pivot to your vision—how your solution will change the game.

Use bold statements and visuals to drive home the impact you’re aiming to create.

Actionable Tips

Be Clear and Ambitious: Define your long-term goals with precision. Investors should walk away knowing exactly what you’re striving to achieve.
Tell a Story: Connect your vision to a narrative that resonates. Share why this vision matters, not just to you but to the market and society.
Use Impactful Imagery: Pair your vision with strong visuals that encapsulate the future you’re building.

I – Insights

Insights are your secret weapon when you can’t yet show product-market fit.

Investors want to know that you deeply understand the market you’re getting into. It’s not enough to have a great idea—you need to prove that you’ve done your homework.

Your insights should reassure investors that you’re making informed decisions and that your startup is poised to navigate the market effectively.

How to include VISION in your Deck

Weave your insights throughout your pitch, particularly in the market opportunity and problem statement slides.

This is where you showcase your knowledge—lay out the market landscape, key players, and the pain points your startup addresses.

Actionable Tips

Present Solid Market Research: Use reliable data to back your understanding of market size, trends, and opportunities.
Show Market Trends: Highlight emerging trends that align with your vision and demonstrate your awareness of where the market is headed.
Identify Clear Pain Points: Articulate the specific problems your startup solves, supported by data.

S – Strategy

Your strategy is the roadmap that will take you from vision to reality.

It’s about showing investors that you have a clear, actionable plan to achieve product-market fit.

A well-crafted strategy convinces investors that you’re equipped to make it happen.

How to include VISION in your Deck

Your go-to-market strategy should have a dedicated slide in your pitch deck.

This is where you outline who your customers are, how you’ll reach them, and how you plan to grow.

Make it clear, concise, and compelling.

Actionable Tips

Define Your Target Audience: Be specific about who you’re selling to and why they need your product.

Detail Acquisition Channels: Explain how you plan to attract and retain customers, whether through direct sales, partnerships, or marketing.
Show Growth Plans: Outline how you’ll scale once you gain traction, and how you’ll continue to iterate based on customer feedback.

I – Iteration

Iteration is about proving that you’re not just launching a product—you’re committed to evolving it.

Startups that succeed are those that listen, learn, and adapt.

Investors want to see that you’re ready to tweak and improve your offering based on feedback. This flexibility is key to achieving product-market fit.

How to include VISION in your Deck

Highlight your iterative approach in the product development or traction slides.

Show how feedback has already shaped your product and what you plan to do next. This shows investors that you’re responsive and focused on continuous improvement.

Actionable Tips

Show Key Learnings: Provide examples of how user feedback has influenced your product development.
Outline Future Plans: Present a roadmap of upcoming iterations and enhancements.
Be Transparent: Share challenges you’ve faced and how you’ve adapted—this builds trust.

O – Opportunity

Opportunity is the fuel that powers investor interest.

When product-market fit isn’t locked in, the size and timing of your market opportunity become critical.

Investors need to see that you’re entering a market with substantial growth potential and that your startup is uniquely positioned to capture it.

How to include VISION in your Deck

Your market opportunity should be showcased in a dedicated slide, complete with data that quantifies the potential.

This is where you justify why your startup is worth the investment, even at an early stage.

Actionable Tips

Quantify the Market: Provide concrete numbers for total addressable market (TAM), serviceable available market (SAM), and serviceable obtainable market (SOM).
Highlight Market Timing: Show why now is the perfect time for your solution, considering market trends and emerging needs.
Link to Your Vision: Connect the market opportunity to your vision, reinforcing why your startup is set to succeed.

N – Network

Your network is a reflection of the strength and credibility of your startup.

Advisors, mentors, and strategic partners show that you have support from experienced industry leaders who believe in your vision.

For investors, a strong network is a vote of confidence in your startup’s potential.

How to include VISION in your Deck

Dedicate a slide to showcasing your network, highlighting key advisors and partnerships.

Use logos, quotes, and brief descriptions to illustrate how these connections add value to your startup and enhance your chances of success.

Actionable Tips

Highlight Key Advisors: Mention respected industry figures who are advising your startup, and how their guidance helps you navigate challenges.
Showcase Strategic Partnerships: List partnerships that provide access to customers, technology, or resources that give you a competitive edge.
Use Endorsements: Include quotes or endorsements from your network to add credibility and demonstrate external belief in your vision.

Scenario Examples: Applying the VISION Framework

Here are concise scenarios for different founder situations:

Young and First-Time Startup Founder

Application:

Vision: Highlight your fresh perspective to disrupt the status quo.
Example: As a digital native, I envision tools that make business processes as intuitive as everyday apps.

No Prestigious Educational Background

Application:

Vision: Focus on real-world experience and problem-solving.
Example: My hands-on work with SMEs has shown me the daily challenges they face, and my vision is to eliminate these inefficiencies.

Pivot from a Different Industry

Application:

Vision: Leverage your diverse background to offer a fresh approach.
Example: Coming from logistics, I see untapped potential in applying AI to optimize supply chains, which is the future I’m building.

Turning Vision into Reality with the VISION Framework

The VISION framework helps you structure your pitch so that even if the present is uncertain, the future is crystal clear to investors.

By focusing on your long-term vision, deep market insights, strategic planning, iterative approach, market opportunity, and strong network, you can craft a compelling story that resonates with investors and convinces them to invest in your startup’s potential.

Are you ready to turn your vision into reality?