I’ve been speaking with some Y Combinator hopefuls as they prepare to interview for this coming batch. As usual, there are some really enthusiastic and super smart folks working to solve really interesting and important problems.
I love taking these meetings because I get to get back to the community that has supported me plus I learn a ton in the process. For instance, it was from all these meetings last time around where I wrote my most popular post of 2012: 11 compelling startup pitch archetypes.
This post addresses a very specific piece of the startup pitch: selling the dream.
The Final 10%
The vast majority of your pitch should be around the mechanics of your business: your customers, your product, your team, your distribution strategy. This is what’s going to make you successful: competent people who really understand the needs of their users and who have the ability to create the right product to address those needs and get it into the hands of their users.
But, there is a final 10% of your pitch which should be more aspirational. It’s about the vision, the dream, the magic. It’s the answer to the question “How is this going to be a billion-dollar business?” 
Two of the companies that I’ve spoken to were missing that part of their pitch. They had identified a market segment which had a burning problem, and their products all that problem, and they had good specific strategies to acquire those customers. This is a great start. 
But they were missing that aspirational story.