State the Purpose Behind the Startup

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In pitching, start with the Why of the business.

Why does this business exist?

It’s important to state up front the purpose.

This is different from the problem to be solved.

The purpose is similar to the problem but different.

It goes to the heart of why the business exists.

It shows the overall purpose of the business and what role it takes.

To find the purpose of the business, look at the problem to be solved and find the process that’s driving it.

For example, a company that makes an app that crowdsources funds for small businesses is solving the problem of growing businesses through funding.

The process behind the app is that fundraising takes time and can be difficult.

The purpose is to accelerate small business growth by speeding up the funding process.

The pitch should start with the purpose, then explain the specific problem to be solved.

Follow up with the solution the company offers.

The purpose connects the startup to a greater cause.

Businesses with a why are stronger and last longer than those that are just making money.

Start the pitch with its purpose.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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