How NOT to pitch
Pitches fail because they answer the wrong questions.
And yes, we answered quite a few wrong!
This blog is about Walat’s first investor pitch that taught us..
Every Pitch has two main parts: The Pitch Deck and The Presentation.
The Pitch Deck is a concise document that conveys all the information the investors need to know.
The Presentation is pitching your idea/product to the investors within the specified timeframe.
Here are our pitch decks:
Deck 1 — This deck conveys the basic idea of our product in just 15 slides.
Deck 2 — We used this to pitch in front of investors and hence, included more images, compared to text to make it noticeable. Here, We followed Elon Musk’s pitching strategy, which is truly engaging! Watch here!
More on the Deck here: Playbook, SV.CO — The Deck
We got to pitch Walat at the Young Entrepreneurship Summit, Kerala 2015, before an esteemed panel of angel investors. If not anything, we got some valuable feedback on our idea and learnt how NOT to pitch!
What went wrong with us:
- We pitched with 26 slides!
- We took a long time to come the solution we are offering. Instead, kept speaking about the problem.
- The investors do not have a lot of time for us. They are bombarded with ideas and it’s possible they don’t find you interesting enough.
- You need to emphasise on this: “How will we make money?”.
- Weak business model.
- We are just a two-month startup currently in prototyping stage and that is not promising yet: We neither had customers nor had a finished product to show.
- We were not confident.
What the investors primarily look for is the
- Competitive Advantage — Can your idea be easily replicated by any x or y?
- Ease of implementation — Is it easy to penetrate into the market without much overheads?
- Scalability — Will the business have a stunted growth or will it flourish?
- Business Plan/Partners — Do we know where we are going?
- Customers — Do people believe in us?
- Team — Are they capable enough to make it happen?
If you are looking for pitch decks that won money, here are 9 Best Pitch Decks of All Time!
Next time you pitch, keep these quick tips in mind.
Go ahead and steal the limelight!
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