Competition is rampant in the world today. Fund investors face stiff competition. The topic of positioning your product positively against your competitors is often discussed. How can you compete for the same pool of funding with thousands of startup entrepreneurs?
Your pitch should be viewed as a formidable contender so as to differentiate you from the masses. Interested investors will take note. Don't make these common mistakes when creating your pitch deck, you can take help as well from experts who providing pitch deck services. Here are the five most common pitch deck mistakes and how to avoid them:
Pitch the Business, not the Product
Investing in ideas is not for investors. Investing in products is not for investors. The best investors invest in businesses. It's because investors want to make a big fat return on their investment at some point. Products don't produce one. Profitable, sustainable enterprises do. Take advantage of any traction you may have. A market's desire, need and willingness to buy something can be shown no better way.
Using Too Much Words : Being Succinct
There are too many words in pitch decks. This makes investors uncomfortable, and they tend to walk away. Describe the problem you solve in specific and succinct detail, figure out whom your solution affects, and why you think it is the best. Avoid over communicating. As brief as possible with your first slide.
Visuals And Bullet Points To Wordy Slides
A lot of the slides in a pitch deck contain the information the presenter is going to share. The best entrepreneurs have a good grasp of the English language, and they can read faster than you can speak. Potential investors have a tendency to expect that you know what you're talking about without ever having read it. On the slide, you should only highlight the primary points. Use stunning visuals to convey your ideas instead of wordy slides. Using good visuals will engage your audience and make your message more memorable. As long as we're talking about slide presentations, stop using animations and transitions. This will take you away from the topic at hand.
In a competitive market, your pitch deck must demonstrate your know-how about how to obtain, retain, and grow customers. Investors will want to know more about how you will get your amazing product into the hands of so many people. Using broad generalizations like "social media networking" can be considered more of a tactic than a strategy. You should demonstrate that you have put a lot of time and energy into developing a distribution plan that leverages your unfair advantage.
One Pitch Fits All - Solution: Tailored Pitches
The majority of pitch decks use cookie-cutter templates that have been adapted for audiences including investors, channel sales partners, and strategic partners. Get to know your audiences in advance. Adapt your pitch to the audience you intend to address. What is the relationship between your business and the other brands in their portfolio? You should take the time to read the fine print, and how is it smack in the middle of their investment "sweet spot". To the audience to which your pitch will be presented, tailor your business story.
A pitch deck is the best way to convince an investor that your business is worth investing in. Think like a potential investor when you are writing your pitch. Ensure that each slide includes an answer to the questions "What's in it for me?" and "Why should I care?" The most important thing is to keep your investors focused on what's important. Use your pitch to tell an engaging story.
Starting a company is difficult and most fail. Valerie helps startups grow quickly. Her services include helping companies find, retain, and excite customers, investors, and employees. Many startups, even those with great ideas, derail due to the big, costly mistakes made by entrepreneurs and founders.