White Paper
White Paper: an informational document usually issued by a company to promote or highlight the features of a solution, product, or service that it offers or plans to offer.
What are the goals of a White Paper?
The term “white paper” was first coined in British politics back in the 20th century. Originally, a white paper was a legislative document explaining government proposals for new policies. It was structured in a way to explain the issue, the proposal and the expected outcomes.
In the startup universe of the 21st century, White Paper serves a marketing and sales purpose, introducing potential customers to a product, service, technology or methodology. While it belongs in the portfolio of marketing materials, the document’s tone of voice is more professional and informative than loud and attention-seeking.
It’s a useful tool for establishing a company’s credibility. It paints the bigger picture by touching upon industry-wide issues.
What does a White Paper contain?
While the exact information varies from one company to another, these are some questions that can form the basis of a White paper and help crystalise its key message:
- What is your product? What is the technology behind it?
- What value does your product provide? What is your USP? How does your product help people?
- What industry problem does this product solve? How does your product perform against other players in the industry?
- Who does this product benefit? Does this product alleviate the pains of one or multiple user groups?
- Who is the target audience of your White paper? Prospects, investors, industry experts?
- How can you connect with this target audience? This and the previous question are helpful in determining the tone of voice of the document.
As a startup pitching your idea/product to investors, you may also focus on:
- Company information: Who’s on your team? What’s their background?
- Business forecast: Does your product correspond to a wider trend or policy? An example could be the integration of green energy quotas in state policies. What are your pricing policy and expected revenues?
- Advisors: Have you attracted renowned industry experts as your advisors? Are professionals interested in your product?
- Terms and conditions: What are the terms and conditions of investing in the company, what is the equity you could potentially offer to investors?
