Being an entrepreneur is never an easy task, but many have already failed at doing something. Failure, most of the times, leads to lessons and learnings, which could prove valuable to the people who would try doing something similar or do the same thing. That’s why the advice on mistakes that could kill your fundraising pitch is so crucial—people have already failed to raise funds by making these mistakes. You should not!
Below is some advice that you can take in your stride to avoid failure while pitching for fundraising:
- While pitching before the investors, get to the point early. The point of your idea or the startup. What problem you are going to address or solve. Don’t give a general description of the market or industry. In short, get them excited about the idea.
- Try focusing on a single or a couple of problems. Don’t take a bucket-load of problems to solve—try being more focused.
- Don’t speed up your presentation too much. Try making your speech audible and understandable.
- Highlight the competitive advantage of your product. Show the metrics for user engagement and other relevant data to prove that customers will love your product over your competition.
- Show them how you are going to make money. Almost no investor will fund an idea that does not have a business model.
- Avoid going into technical jargon too much. To keep things interesting, keep them simple and avoid difficult terminology.
- Don’t make your presentation deck too smart or bad—keep it balanced and legible so that whatever you are showing is at least readable.
It is obvious to be little bit nervous and conscious if you are in the initial phases of funding and haven’t done the pitching quite often, yet practice will make you more comfortable and relaxed. This ensures that your delivery is smooth and is not hurried.