5 Mistakes Entrepreneurs Make When Pitching Their Ideas To Investors!
If you are lucky enough to pitch your idea in front of an interested party.
You wouldn’t be wanting to mess up. What you need to realize here is that someone is actually giving you their time and you need to make it worth their while.
Here are 5 Mistakes you’d want to avoid the next time you get the opportunity to pitch your idea:
1. Your Pitch shouldn’t be longer than one minute:
You have to make sure that your pitch is no longer than one minute. Keep it short, simple and clear. Your statement should showcase your knowledge and passion regarding your startup idea. The more simple your pitch is the more the potential investor would be willing to pay attention to you physically and mentally. You might be given more time to pitch your idea but it is your job to utilize that time to your maximum ability.
2. Over Confidence:
Everyone likes confidence but if that confidence in you exceeds a certain limit. It is likely to scare your potential investor away. Investors will be more impressed by you if you know that your entrepreneurial journey isn’t going to be easy and you are ready to face any kind of challenge along your way.
3. Power Point Addiction:
When you are pitching your idea to your audience, Power – point presentations are to be used as a supporting material and not as a substitute. Your audience would be more interested in listening and looking at you rather than looking at the slides the whole time. Make sure you check if your slides are working properly prior to the presentation.
4. Big talk no Traction:
Investors would never want to seed money into a project which isn’t based upon logical reasoning and market research. Before you ask them to hear your pitch gather some proof that people will be willing to buy your product or avail your service by running a research with potential customers or other means.
5. Taking Criticism Personally:
If an investor keeps on asking tough questions It is likely because the investor is interested in your idea and wants to know about it further. Do not take your investors tough questions negatively but try to answer them as much as you can. If you don’t know an answer to a question be honest and never make something up.
All in all, be well-versed in who you are and what you’re presenting along with keeping your facts and figures sorted. If you’re not clear on what your model is, why you are presenting in the first place, and what approach to take, then you can safely assume that the people listening to you will be equally confused.
You can check out some of our FREE Startup Tools that can help you get pitching!
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