Wednesday, February 20, 2013
What not to do at an investor pitch meeting
Pitch meetings are an exciting experience for entrepreneurs, and getting the opportunity can be difficult. For inexperienced and veteran entrepreneurs alike, it’s important to know what not say at an investor in a pitch meeting. Here are some tips to prevent you from fumbling in your next pitch meeting.
Don’t claim that your company has no competitors in its niche. Why would any investor be interested in investing in something so unpopular that no other business would see an opportunity in this particular arena? Since it’s highly unlikely that you have discovered or invented something completely unlike anything else out on the market, find a competitor to compare your product to in your pitch meeting. The investor can see you failing to identify your competitors as a sign of laziness or a sign of arrogance. Find the closest thing you can to a competitor, and compare your product against your competitor’s.
Ignoring the problem is another common mistake people make in an investor pitch meeting. Companies and investors are in whatever business they are in to address consumer needs and make money by doing so. They want to see how a product or idea can meet a growing need. In your investor pitch meeting, you should always consider starting out with the problem your specific product or idea will address in a given market. This shows that you are aware of the market and that you have carefully thought out just how your product will fit into the marketplace.
Avoid the buzzwords and catch phrases. They add no value to your presentation. The investors have heard them all before. Your presentation should be informative. You must make use of the limited time you have in front of them to make the best possible first impression. If the idea is really “epic” and truly a “game changer,” the investors will pick up on that in the investor presentation.
Being unprepared is a waste of the investor’s time. You have worked so hard to get your business idea or venture in front of the right audience. You cannot afford to blow it by forgetting to do the little things. Go that extra mile and research every possible question you might be asked when you are in the pitch meeting. How do you think “I don’t know” sounds to an investor putting his or her money on the line? Would that make you feel confident in a person’s ability to deliver on a commitment or project?
Make the most of any pitch meeting you land and put your best foot forward. Show up on time, extremely prepared, with a thorough, well-researched and well-designed pitch deck presentation.
Posted by Sol Marketing at 3:53 PM | Comments Off on What not to do at an investor pitch meeting
Topics: Telling the Story