It’s a cutthroat world out there. The battle for investment capital is fierce. There are a lot of discussions about positively positioning your product against the competitors. But how can you compete with the thousands of other startup. Entrepreneurs vying for a share of the same funding?
One strategy to set yourself out from the crowd is to have your pitch viewed as a strong rival. Activate investors’ interest. Here are some easy tips on how to avoid the most typical pitch deck errors.
Here are the top five pitch deck mistakes to avoid:
- Error: Product Pitching – Solution: Business Pitching
Investors do not invest in concepts. They do not invest in any products. They put their money into businesses. Investors make investments with the aim of earning a substantial return on their investment in the future. They do not get a return on their product investment. A viable, profitable, and long-term business is possible. If you have traction, take advantage of it. There is no better way to display that you have something that a market wants, needs, and will purchase than to show that you have something that a market wants, needs, and will buy.
- Verbosity Error – Succinctness Solution
Many pitch decks for investors are excessively wordy. Investors will sooner walk away than sign a cheque because they are puzzled. Instead, from the start, provide detailed and brief facts about the problem you address. Who you solve it for, and why your solution is superior to all others. Refuse to communicate excessively. With your first slide, get right to the point.
- Fix: Visuals and Bullet Points for Wordy Slides
Too many startup pitch deck slides contain information about what the presenter will say. Entrepreneurs can read – and read faster than you can speak. Investors want you to be familiar with your subject matter without having to read it. Put only the key points on the slide; a single critical point will be enough. Consider employing great graphics to communicate your argument instead of a bunch of text on a slide. Great images provide a clear message and emotionally connect audiences. Remove the animations and transitions while we’re on the subject of slide presentations. They detract from your proposal’s core message.
- Mistake: Focus on Technology (or Product Features) – The solution is to focus on distribution.
In a competitive sector, your pitch deck should demonstrate that you know exactly what it takes to acquire, keep, and develop clients. This is an important slide because investors want to get a clear picture. How you plan to get your wonderful product into the hands of a big number of people. “Social media networking” and other broad generalizations are methods that can help you. Demonstrate that you’ve put a lot of time and effort into building an actionable distribution strategy and capitalizing on your unfair advantage.
- Error: One-Size-Fits-All Solution: Tailored Pitch
Too many pitch decks are template-based presentations given to various groups, including investors, channel sales partners, and strategic partners. Understand your target audience. Adapt your pitch to your target audience. How does your company fit within their whole portfolio? Do your research to see if it’s right in the heart of their investing “sweet zone.” Shape your pitch, your business story, specifically for the audience it is delivered to.
You must take your startup pitch deck seriously if you want an investor to take your firm seriously. Examine your proposal from the perspective of a potential investor. Make sure each slide answers the questions “What’s in it for me?” and “Why should I care?” in a compelling way. The most crucial thing is to retain the key idea in your potential investors’ minds. Make a captivating story out of your concept.