3 Common Mistakes People Make Pitching their Business

I’ve been in countless pitch meetings over the years. Here are the three most common mistakes that I’ve seen made by founders.

1. Lack of honest Q&A prep. A great salesperson always tries to anticipate what the objections, comments and questions are going to be. Develop answers to the five questions you hope investors won't ask. Where are the company’s vulnerabilities? What holes are still yet to be filled? Why won’t the company turn profit for a year? Be prepared to answer these questions and to discuss your plans for mitigating risks.

 2. Using too much jargon. You want the investor leaving the meeting thinking yours is an opportunity too big to pass up, that now is the right time and YOU are the founder who can make it happen. But you don’t want the investor thinking you’re full of BS because you load up on inspirational quips and a giant vocabulary. Be authentic by providing actual numbers and real-life stories. These are things that investors are going to remember and will be able to easily repeat to their colleagues. Simpler is better.

3. Starting with the product description first. It’s more effective to communicate the pain point or opportunity to draw investors in. Answer the question: Why does the world need another X? Convince the investor that there is a need first and then follow up with how you are addressing that need with your next billion-dollar idea.

 If you’re interested in going deeper on this topic, Randi Zuckerberg and I recorded a webinar on how to fundraise like a pro. Check it out here!

 Need a template to create a pitch deck, click here!