Perfect Your Startup Pitch: The TTM Framework Explained

SDS 017: Clarifying How to Perfect Your Pitch

Hey! thank you for reading issue 017 of Startup Definition Sunday (SDS).

SDS is the newsletter for founders, bringing you clarity one actionable tip at a time.

SDS arrives every two weeks (you guessed it) on Sundays.

In every issue you can expect:

• 1 Definition of startup jargon

• 1 actionable tip you can implement right away

• 1 article on Africa tech that you should read

• 1 gift for founders

Let's dive in:

(P.S. I'll never sell your information, ever)

Hi - It's always such a pleasure to share each issue with you! If you missed the last issue, you can check it out here.

Before we dive into today's issue, Marge and I started something we think could be useful for founders - bi-weekly office hours to practice your 5-minute pitch.

Our Q3 sessions have begun. If you missed the most recent recorded session, you can catch the recording here.

The next session is this Wednesday (July 19) at 5pm WAT / 7pm EAT. Join us.

Let's dive into today's issue.

When I joined my current role, the hardest part of my role was pitching investment opportunities to the team.

I will let you in on a secret: I come across extroverted but I am really introverted.

(Well, it is not really a secret anymore because my colleagues found out through the MBTI assessment we took during our retreat in Mexico). But I digress.

I tried various methods but none seemed to relay the excitement I felt effectively to my team.

Until, I had a call with the co-founder of Conversa.AI, Malinda Coler, and saw the TTM framework in action.

That same framework helped me pitch clearly a company I am excited about and a few of my colleagues agreed that this pitch was the most effective so far.

Founders can improve their own pitches during an initial meeting with the TTM framework.

What is an initial meeting?

Initial meeting: the first time you meet with an investor to pitch your startup with the aim of getting initial interest in your company.

Why is the initial meeting critical?

Most investors see 1000 pitch decks a year and invest in only 10. With the volume of deals, investors have to make decisions on companies to explore further in a limited time.

Many founders misuse that time by reading the deck out to investors. That leaves very little time for questions and fails to effectively communicate the problem you are solving.

The Today, Tomorrow & Metrics (TTM) framework can help you make the most of that time.

How to use the TTM framework during an initial pitch

Today: Begin your pitch with a picture of what the current world without your solution looks like. Share clearly the size of the problem, who it affects, and how painful the problem is to the ones it affects. The investors at this stage should know the specific painpoints you will be solving with your company.

Tomorrow: Make a clear connection to the value of your solution. The investor should walk away from this section knowing how your solution solves the pain points you identified, how and why this will make money, and the impact of the solution on customers.

Metrics: Use specific and relevant metrics to make your solution real to the investor. If the investor walks away with undeniable proof that this solution is needed by users willing to pay, you have succeeded (no vanity here please).

Template

Here is a template of how to pitch a startup using the TTM framework: 

(only visible to subscribers as of 5pm on 16/07/2023)

The TTM framework is a concise and flexible tool that can help you pitch your startup to investors effectively. By using this framework, you can make the most of your initial meeting and leave a strong impression on potential investors.

If you have learned something valuable today, consider joining SDS so you don't miss future editions.

If you only read one thing this week, read this...

The TTM framework is a great way to communicate product market fit. But how does a founder know when they have achieved PMF? Steve Waidelich of Founders Factors Africa has some ideas.

Here's why you should read it: PMF is critical at the early stages but it is often unclear what metrics investors want to see when you are pre-revenue. This article answers that question.

Founder's Corner

As an investor, I understand that it can be difficult for founders to get on angel investors' radar, especially without the right networks.

That's why I built an inbound form to allow founders to share their decks directly with me. It takes less than 5 minutes to complete. By breaking the mold and providing an alternative way for founders to connect with investors, I hope to help level the playing field.

Thank you for reading to the end of issue 017.

Until we meet again in two weeks, here's how we can stay in touch:

• 🐦 Find me on Twitter

• 💬 Hit me up on Linkedin

• 💌 Email me

• 🚀 Sponsor SDS (Reply to this email)

Let's chat again in two weeks,

Jasiel