I’ve been thinking about theory of mind recently. It’s the concept that each of us has an idea of the other in our own minds. When pitching your startup it’s crucial to have an idea of what’s in your audience’s mind.
If they’re the user then they likely have no industry knowledge about your startup. Your pitch to them should therefore be about them. What you are to them. How you’re useful for them. Why you should be paid by them.
If you’re pitching an investor you have to consider exit ops. When will they see their money back? How much money? What’s the plan with their money? The plan with money is often not the same as your plan for the market, or even your vision of the future.
And you also need to pitch to employees. To convince them to join or stay. What do you offer them? They’re not joining for monetary gain but rather a sense of worth and a lottery ticket. Here is where the vision matters most.