05 December,2019 11:51 AM IST | | mid-day online correspondent
Ratan Tata
In a bid to help aspiring entrepreneurs, Tata Group's chairman emeritus Ratan Tata released a pitch deck for them. It all started with Mr Tata sharing a poll on his Instagram story asking his 7 lakh followers whether they would like him to put together a pitch deck. When the poll got a whopping 97 per cent majority, Mr Tata then shared an entry-level pitch deck through a file-sharing website with the link on the bio.
A pitch deck is a short and precise overview of a business idea that entrepreneurs put forth to investors to raise funds. The template shared by Mr Tata comprises 10 elements that are required while approaching an investor with a business idea.
The pitch deck begins with identify the PROBLEM that the startup is trying to found a solution for. Then comes the SOLUTION offered to the problem, along with listing the characteristics of the said solution in UNIQUE SELLING PROPOSITION to make the startup stand out from the rest in competition. Mr Tata then lists COMPETITION and BARRIERS TO ENTRY to compare the idea with its rivals and to identify the obstacles on the way and then REVENUE MODEL to know how to make money from the idea. Next in the list is to identify the TARGET MARKET, i.e. to know the size, demographics, and habits of the market and then the value of the PRODUCT /SERVICE being pitched in. After listing the MILESTONES of the product and its FUNDING SO FAR, Mr Tata suggests to introduce the founder members of the product that form the team.
You can read the pitch deck here.
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Mr Tata also posted about the pitch deck on his Instagram account. "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," he said, further adding that it will encourage aspiring entrepreneurs to research its elements, and create their own "recipe", that helps them seek investments and take their stories further, wishing them luck.
The post received over 129,000 likes and many comments from his followers thank him for sharing the document that would help them take their stories further.
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