This world is a world of competitions. There are fierce competitions for limited resources everywhere. Even start-up businesses compete for investor funds. It is pertinent to compete well in order to win some funds for business development. When preparing your pitch deck you must strife to grab investors’ attention by preparing excellent and outstanding pitch deck.
You can actually distinguish yourself from the multitude by getting investors excited with your pitch. Here we will discuss how to avoid pitch deck mistakes that may lead your pitch deck to end up in the dust bin or trash can.
These are top 5 mistakes to avoid when preparing pitch deck and the probable solutions:
Pitching the Business and Avoid Pitching the Product
Ideas are certainly good. But investors don’t invest in it. They actually don’t invest in products but they do invest in businesses. They invest because they want excellent returns on their investments especially in the future. You can’t get these returns directly from the products. A viable and profitable business is an awesome bait to get funds from the investors. Investors can easily pick out the sustainability of the business and probably the profitability. If there is life in the business and has much traction, the investors are excited and ready to invest.
Be Succinct and Churn all forms of Verbosity
Some people talk too much and say things that are unnecessary in their pitch deck. Be punchy and direct to the point. The investors most often do not have time reading all your stories. Many pitch decks are verbose. These rather piss off investors. At the commencement, provide succinct details about the business solution you are offering to the problem. Resist the attempt to over communicate. Get out you points quickly and most probably bulleted even in your first slide.
Mistake of presenting Wordy Slides
Most often the presenters pack the words they intend to say into the slides. Investors read faster that you can speak. They need to understand your presentation without you having to read it to them. Always put the most significant points on the slide, just a single main point will suffice. Rather than muddling up the words on the slide, always consider using quite stunning visuals to drive home your points. Using visuals communicate best, stay longer in memory and engage audience emotionally. Animations and transitions are somewhat distractive. Use less of these to get the investors focussed.
Focussing on Technical Details or Product Features
Rather than focussing on the technical details always focus on distribution. Still bothering on the competitive world. The marketplace is also very competitive. You must display your ability to deal with how to source, maintain and grow customers. The slides must trash out how you intend to distribute the products and get it in the hands of the customers. This is paramount. Avoid generalization and state clearly the distribution channels and plan. You need to invest a lot of time and energy in this to ensure you do a perfect job.
Attempting to provide one size fits all pitch deck
Don’t attempt to provide a general solution for different audiences such as channel sales partners, investors and strategic partners. You need to know what are specific to your audience and tailor the pitch deck to them. Customize your pitch deck and business story to your audience your are making presentation for.
If you are presenting a thorough pitch deck after conducting your extensive homework, the investors will get serious about your pitch. Take a look at your pitch but now from investors’ perspective. Ensure that each slide is engaging and provide compeling solutions to many of the questions agitating the mind of the investors. Focus on the main thing requiring answers in the mind of the investors. Let it be a story well told.