5 Most Common Pitch Mistakes
Even with an air-tight business model and a unique product, a boring and confusing A dynamic and concise pitch in front of the right people is all you need to begin closing your funding. By avoiding these 4 most common pitch mistakes presented below, you will increase your chances of securing the investment that you need to grow your business.
Following are the 4 most common pitch mistakes :
- Having a confusing pitch deck – Organize your pitch deck so that it not only makes sense to you, but it would make sense to someone that knows nothing about your company or industry it operates in. Use basic but meaningful terminology that gets your point across in the simplest way possible. People are more likely to pay attention to a pitch if it is accompanied by appealing visuals, so make sure that your deck clear yet captivating. Pick an attractive color scheme that compliments your logo and minimize the amount of information on each slide. Use the slides to aid your presentation but do not make it something that the investors have tried to read and understand themselves as you pitch.
- Not explaining your business model – Your business model is the backbone of your business that shows the investor that you have put time and effort into establishing the operations and thinking through how your business is going to succeed. Investors appreciate a thorough, clean business model that is achievable yet still pushes the boundaries. It is important to explain how you plan to produce revenue and when you will breakeven, as the investor is ultimately interested in their return on investment and how they can benefit from their partnership with you.
- Explaining the problem poorly – Every business is formed with the goal of solving a specific problem in a particular market. During your pitch, present the problem to the investor clearly and concisely. Emphasize why it is important to solve this problem and explain exactly how your product will help do so.
- Including too much detail – Keeping your pitch simple and to the point is often more effective in giving investors a comprehensive view of your company. By only keeping the discussion high-level and only explaining important details, you will able to keep the attention of your audience throughout the whole presentation. Keep your presentation short and sweet, avoid the use of too many industry-specific terms and only provide more intricate details when they are necessary.
- Saying too much too fast– Make sure that in any pitch or presentation you speak clearly, and your audience can easily understand you. Even though it may be hard to enunciate and speak slowly when you are nervous, slowing down gives your audience the time to comprehend what you are saying and allows you to clearly get your message across. Practice pacing yourself to make sure that you have enough time to complete your full pitch without having to pick up speed.