Krishen Iyer is a well-known speaker and author who has spoken at the United Nations, TED Talks, and many other conferences. In this blog post, he talks about how to appeal to your audience. Krishen Iyer shares his thoughts on presenting in a way that allows you to connect with people from all over the world. Krishen is currently working on a book about the true cost of development.
In order to get heavyweights behind your idea, you need to demonstrate that it’s not just a pet project but a serious contender for investment. In doing so, apply the following three lenses: market attractiveness, business model and team traction. As Krishen Iyer explains, market attractiveness refers to how scalable your market is while a business model refers to how you plan on making money. Team traction means validating that other big players have validated your idea.
If you pass all three lenses, investors will probably be salivating over their keyboards and hit the “submit” button before you finish your pitch deck presentation. It needs some times of practice. For a deeper dive into how to properly prepare your deck, check out the successful entrepreneur Krishen Iyer´s book: The Business Model Navigator (Officialusa).
Market attractiveness: Validate interest and show scalability
Investors of any kind of business like easy decisions and “market attractiveness” is an easy decision because it’s quantifiable. When we talk about market size, we’re talking about the total addressable market (TAM) for a business. Investors can ballpark the TAM and so if your numbers are plausible, they’ll be more likely to believe you. Obviously, you’ll need to do some guessing when it comes to market attractiveness but try to ground your assumptions in reality. For most markets, Krishen Iyer states, you can find some empirical evidence that gives you an idea of the addressable market size. That said, market size isn’t the only factor that matters. If you want an example of a company with a huge TAM and no product/market fit, look at Theranos. Their total addressable market was $1 trillion but they didn’t have any working products in over 10 years!