Do you know Barbara Bachus, co-founder of Exomatter?
She recently won the TNW 2024 Startup Pitch Battle, impressing judges and investors alike.
Now, before we even get into her pitch, let’s talk about what Exomatter actually does. It’s a platform that allows researchers to find advanced materials for their applications, driven by powerful AI.
This isn’t your everyday startup—it’s a highly specialized tool designed to streamline the search for materials across various industries.
Now, imagine trying to explain this to a non-tech audience. It’s no small feat.
Yet Barbara did it, and she did it brilliantly.
She started with a relatable story that drew the audience in, connecting complex technology to everyday challenges. By the time she got to the technical details, everyone was on board, understanding not just the product, but the vision behind it.
This is the power of a well-crafted founder’s story.
It’s not just about what your product does; it’s about why you do it and how your journey got you here.
In this blog, we’ll explore exactly that through the STORY Framework, a step-by-step guide to crafting a founder’s story that can turn heads, win hearts, and secure funding.
Let’s get started.
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What Do Investors Want to Hear?
Investors hear countless pitches, but what truly makes one stand out?
It’s not just the numbers or the product specs—those are important, but they’re only part of the equation.
What investors are really looking for is a combination of factors that resonate with their goals and motivations.
Here’s what they want:
- A Clear Vision: Investors want to know that you have a strong, clear vision for your startup. They’re looking for founders who are not just solving a problem but doing so with a sense of purpose and long-term direction
- Resilience and Adaptability: The startup journey is filled with challenges. Investors need to see that you have the resilience to navigate obstacles and the adaptability to pivot when necessary
- Market Understanding: It’s crucial that you demonstrate a deep understanding of the market you’re entering. Investors want to be assured that you’ve done your homework and that your product is a good fit
- A Personal Connection: Ultimately, investors are investing in people. They want to connect with you on a personal level and believe in your ability to lead the company to success
So, how do you communicate all of this effectively?
That’s where the STORY Framework comes in.
S – Set the Scene
T – Tell Your Journey
O – Overcome Obstacles
R – Relate to Your Audience
Y – Your Unique Value
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S – Set the Scene
The opening of your founder’s story is crucial.
It’s your chance to grab attention and establish a connection with your audience.
A strong opening isn’t just about stating what your product does; it’s about introducing who you are and why you’re doing this.
This personal connection can be the hook that keeps investors engaged and eager to learn more.
How It Comes in the Deck:
This part of your story typically fits into the early slides of your pitch deck, where you introduce yourself and your startup’s mission.
It’s not just about the “About Us” slide—it’s about embedding your personal journey into the narrative from the very beginning.
Actionable Tips:
- Start with a brief, engaging introduction of who you are and what drives you
- Use personal anecdotes that resonate with your audience
Example:
“Growing up in a small town, I saw firsthand how limited access to technology hindered business growth. This inspired me to pursue a career in tech to bridge that gap.”
T – Tell Your Journey
Your journey is the backbone of your story.
Sharing the key milestones that led you to where you are today helps investors understand your commitment, resilience, and the experiences that shaped your vision.
It’s crucial to make your story relatable and engaging, showing that you’re not just another founder but someone with a unique path.
How It Comes in the Deck:
This content can be woven into the narrative throughout your deck, especially in the slides that cover your mission, vision, and the problem you’re solving.
It gives context to your decisions and the challenges you’ve faced.
Actionable Tips:
- Outline key milestones, focusing on challenges and how you overcame them.
- Highlight pivotal moments that shaped your vision and mission.
Example:
“After college, I joined a startup where I learned the ropes of product development. Facing numerous setbacks, I realized the importance of resilience and adaptability, which fueled my determination to start my own company.”
O – Overcome Obstacles
Discussing the challenges you’ve faced and how you overcame them is vital.
It shows investors that you have the resilience needed to navigate the ups and downs of startup life.
This honesty about struggles, paired with your success in overcoming them, can build trust and make your story more compelling.
How It Comes in the Deck:
This is a powerful element to include in your deck when discussing your growth and the development of your product or service.
It can be particularly effective in slides that discuss your milestones or key achievements.
Actionable Tips:
- Share specific challenges you faced and how you overcame them.
- Emphasize the lessons learned and how they contribute to your startup’s success.
Example:
“As a young entrepreneur without a strong educational background, I faced skepticism. However, my hands-on experience and relentless pursuit of knowledge helped me build a skilled team and develop a viable product.”
R – Relate to Your Audience
It’s essential to connect your personal journey to your startup’s mission.
This helps to humanize your brand and makes your mission more relatable.
How It Comes in the Deck:
This connection can be emphasized in your mission and vision slides, as well as in the problem and solution sections of your deck.
It ties everything together, making your startup’s purpose clear and compelling.
Actionable Tips:
- Clearly link your personal journey to the mission and vision of your startup.
- Explain how your experiences uniquely position you to solve the problem your startup addresses.
Example:
“My journey taught me the value of accessibility and empowerment. This is why our platform is designed to be user-friendly and affordable, ensuring that small businesses can thrive in a digital world.”
Y – Your Unique Value
Importance:
Highlighting what makes you unique is crucial in differentiating yourself from other founders.
Your unique skills, experiences, and perspectives are what set you apart and make your startup stand out in a crowded market.
How It Comes in the Deck:
This element is often best showcased in the team section of your pitch deck, where you introduce yourself and your co-founders, or in a section dedicated to your unique value proposition.
Actionable Tips:
- Highlight your unique skills, experiences, and perspectives.
- Showcase how these attributes differentiate you from other founders.
Example:
“As someone who started with no connections in the tech world, I built my network from the ground up. This has given me a unique perspective on community building and customer engagement, which are core to our business strategy.”
Scenario-Based Storytelling: How to Adapt Your Pitch
Young and First Startup:
As a young entrepreneur without previous startup experience, focus on your fresh perspective, adaptability, and innovative thinking. Highlight any relevant projects or internships that demonstrate your capabilities.
No Great Educational Background:
If you lack a prestigious educational background, emphasize your practical experience, hands-on skills, and any industry-specific training. Share stories of how you learned through doing and the success you’ve achieved despite educational limitations.
Pivot from a Different Industry:
If you’re transitioning from a different industry, highlight transferable skills and unique insights that give you an edge. Explain how your diverse background provides a fresh perspective on solving the problem.
Developing Your STORY
Understanding the psychology of storytelling is key to crafting a founder’s narrative that resonates with investors.
Use the STORY Framework to structure your pitch in a way that aligns with your personal journey, mission, and unique value proposition.
A well-crafted story not only captures attention but also inspires confidence in your vision and potential for success.
Contact us today to refine your narrative and make your pitch unforgettable.