02 Jun 7 pitch mistakes you need to stop making
Let’s face it, pitches can be tough. And when you’re presenting to an audience that has seen countless pitches, it can be incredibly difficult to make a great impression. Your prep work will mean the difference between going home empty-handed or with money in the bank.
If you avoid these common mistakes, you’ll be on your way to impressing your audience.
1. Not doing your research
It’s never a good idea to go into a sales pitch without doing research. You need to know who you’re meeting with and where their interests lie to figure out whether or not your pitch will hit the right notes.
If you want your sales pitch to impress, it can’t be a one-size-fits-all situation. You need to tailor your presentation to your audience.
2. Forgetting to tell a story
The key to raising money is having a thought-out selling story that ties your presentation together and serves as a basis for your entire pitch. Stories are emotional, and will ultimately be the part of your presentation that piques interest and sets the stage for the numbers. A powerful story will show that you’re onto something worthwhile.
Your audience won’t be interested in an idea that has no context. They’re also invested in the narrative and people behind the idea. Which brings me to my next point:
3. You forget to sell your team
Don’t make this a one-person show. Before potential clients even dream about giving you money, they want to know if your team can pull it off. Play to individual strengths and split the presentation up by expertise.
You need to be able to sell your business plan and the people who would bring it to life. If you can make your audience fall in love with your idea and your team, you’re in a good spot.
4. You go over every granular detail
Information overload will do you no favors. One of the biggest mistakes you can make when pitching is to overwhelm your audience with information. Once you have your message down, make sure your slides are visually appealing. Charts and data visualization will help you reinforce your story and get your financial projections across without boring anyone.
Cadence is important, and when your slides help you move fluidly between concepts, you’ll leave yourself plenty of time to answer questions and prove that you really know your stuff.
5. Your projections are insane
This is one of the biggest red flags you can wave in front of your audience’s face. You need to avoid unrealistic projections and assumptions you can’t justify. They want to see returns they can trust, not guesstimates.
And in terms of competition: Everyone has it, and claiming otherwise will make you sound naive. Competition is everywhere, whether you see it or not. You need to be able to prove that you’ve accounted for that, and position yourself as the best team for the job.
6. Taking questions too personally
Try your best not to take offense and take criticism in stride. Your ability to think on your feet and give intelligent responses will carry you through those tough questions.
7. You don’t have an exit strategy
While investors look for inspiring and potentially industry-redefining ideas, they ultimately want to see ROI within a reasonable timeframe. You have to show them how it’s going to happen.
And be sure to have a clear call-to-action to wrap up your presentation. Everyone involved should leave with an understanding of what the next steps are.
Don’t make rookie mistakes
Once you draw your audience in with a relatable story and great concept, you can impress them with your work and ultimately convince them you’ll make wise decisions with their money. The quality of your pitch deck will represent your brand, so take the time to make sure it reinforces your message and sets the stage for you to own that presentation.
If you need help designing a pitch deck, our team of experts have got you covered.