10 Tips To Avoid Pitch Pitfalls
Your pitch is the single most important factor in either launching your idea or shattering it. How you deliver your it matters!
Here are a 10 tips for avoiding pitch pitfalls.
1. Think of a great lead sentence or quote that people remember about your product. Can you describe your product in one sentence, followed by three to five supporting sentences?
2. Describe the market opportunity. How big is the market? What is the potential in this marketplace? Don’t tackle too many markets at first, stick to one.
3. Highlight the problem by structuring data in infographics in an easy-to-digest way. Remember, most people are visual learners and if you are describing a hi-tech project, it’s best to use graphs and charts to neatly organize the information.
4. Reveal the solution your project is set out to solve. Don’t be shy — share your “big, bold, statement” and provide the solution’s roadmap in simple steps.
5. Include a go-to-market strategy. How will you bring this product or service to the marketplace? In other words, what is your marketing plan? (Kevin Harrington pays special attention to this one!)
6. Include your user base. Do you have customers? If so, how many and what are they saying about your product or service? You may consider including testimonials or plain logos of your strategic partners.
7. Mention financing. How much funding do you need? Include financial projections and mention details only when the person you are pitching to inquires about further information. Include the information in your “Reference” slide after the “Q&A” or “End” slides.
8. Include project milestones and timelines to show investors what stage of the process you are in. This helps the investor build trust with you, especially when they are providing the capital.
9. Highlight the qualifications of team members to demonstrate their relevant experience as it pertains your project. Include your advisory board and their qualifiers.
10. Practice your pitch by timing it. Try to end 1–3 minutes early to leave room for Q&A.
Remember that every pitch includes a primary ask. Make sure you know what that is and are able to relay that in one clear and concise question to your audience.