Top 5 Inverter Pitch Pad Mistakes and What to Do Instead
It’s a competitive world out there. Competition for investor funds is fierce. There is a lot of talk about how to position your product in a positive way compared to the competition. But how do you compete with the thousands of entrepreneurs looking to get a piece of the same funding pool?
One way you can set yourself apart from the masses is for your pitch to be seen as a formidable competitor. Get investors excited. Here’s how to avoid common pitch deck mistakes.
Here are the top 5 pitch deck mistakes and what to do instead:
1. Error: Present the Product – Solution: Launch the business
Investors do not invest in ideas. They do not invest in products. They invest in business. Investors invest because they want to get a big return on their investment one day. A product does not give them return. A viable, profitable and sustainable business can. If you have traction, lead with it. There is nothing better to prove that you have something that a market wants, needs and will buy.
2. Error: Wordy – Solution: be concise
Too many pitch decks are detailed. They are confusing and investors take a look instead of writing a check. Up front, provide brief, specific details about the problem you are solving, for whom, and why your solution is more important than all others. Resist to communicate. Get to the point quickly with your first slide.
3. Error: Wordy Slides – Solution: Visual elements and bullets
Too many pitch deck slides are chock full of what the presenter is going to say. Entrepreneurs can read, and they can read faster than you can talk. Investors expect you to know their material without having to read it. Just put the primary points on the slide, a single critical point will do. Instead of a bunch of words on a slide, consider using impressive images to make your point. Great images communicate a clear message and emotionally engage audiences. And while we’re on the subject of the slideshow, get rid of the animations and transitions. They distract from the focus of your speech.
4. Mistake: Focusing on technology (or product features) – Solution: Focus on distribution
Your presentation platform must demonstrate that you know exactly what it takes to get, keep, and grow customers in a competitive marketplace. This is a critical slide because investors will want to have a clear idea of how you plan to get your amazing product into the hands of many customers. Broad generalizations like “social media networks” are a tactic, not a strategy. Show that you have invested a lot of time and energy in developing a workable distribution plan and taking advantage of your unfair advantage.
5. Error: one size – Solution: custom plot
Too many pitch decks are cookie-cutter template-based presentations delivered to all kinds of audiences, including investors, channel sales partners, and strategic partners. Know your audience. Tailor your speech to your specific audience. How does your business fit in with the rest of your portfolio? Do your homework, how do you find yourself right in the middle of your investment “sweet spot”? Shape your presentation, your business story, specifically for the audience it’s being presented to.
If you want an investor to be serious about your business, be serious about your presentation. Look at your pitch from an investor’s perspective. Make sure each slide provides a compelling answer to “What’s in it for me?” and “Why should I care?” The main thing is to focus on the main thing in the mind of your potential investors. Turn your speech into a well told story.