Storytelling, a sure fire way to connect with your audience. I have had the privilege to be part of a pitching session to see it done impressively and effectively that landed them a half a million seed funding. The key is the impression left behind. The impression left in the minds of the investor was so strong that he would recall it every time he encounters the problem they are trying to solve. What comes after? That’s the main theme in today’s newsletter.
Another way of “storytelling” that can be executed during a pitch that I have found especially useful when your solution is meant for B2B, is to paint a picture of the future based on these six letters. It helps justifying the potential of your solution and why it will take off (also useful in early stages of a startup/business when you’re building traction). This method is versatile as it could be adopted for investors or clients alike.
Versatile in Pitch/Sales Decks
In a pitch deck as mentioned earlier, P.E.S.T.L.E. acts either as a precursor or a justification to the need of your solution. As a precursor, it sets the scene for your story or your solution like how a good film lays the ground work for the story to transition into and work towards the climax. For example, how certain political policies would benefit or threaten certain industries/solutions that result in the growing demand for your solution. One recent example would be the Net Zero Goals set by countries. Policies have been enacted and further enforced to push the narrative onto businesses creating the demand for solutions in regards to sustainability accounting and reporting.
As a justification, it reinforces the need for your solution making it more appealing for some investors to fund you. Such motivation like the net zero goal would fuel demand in the coming years (Malaysia 2025, Singapore 2030, China 2060, India 2070), making it a potentially long term sustainable investment even if there are hiccups along the way.
What is P.E.S.T.L.E.?
Political | Economical | Social | Technological | Environmental | Legal
These six key factors are external to a company and would either steer or even derail how a solution is developed. Keeping an eye on these factors can help you in planning the roadmap for your solution or even identifying a problem that your solution can resolve by making a some tweak or major pivot if the opportunity identified is big enough to warrant one. For example, Europe’s outright ban of sales for internal combustion engine (ICE) by 2035 is a political policy that would benefit alternative fuel engines or electric vehicles in addition to solutions upstream and downstream in that aspect.
A technological advancement in battery charging like Prieto Battery would help convincing EV prospects who find spending 30 minutes to charging an EV the main obstacle in buying one. Including such analysis in planning your roadmap or developing your solution would help in getting the right product market fit which is one of the top six identified reasons why startups fail.
Whether as a precursor to set the stage or as a justification to reinforce the need for a solution, understanding the political, economical, social, technological, environmental, and legal landscape can be instrumental in guiding the development and success of ventures. By integrating these insights into your strategies, you not only enhance your chances of securing funding but also increase the likelihood of achieving long-term sustainability and market fit. Don't miss out on future insights and tips—subscribe to our newsletter and share our Substack with your network to stay informed and empowered in your entrepreneurial journey!