8 Pitch Errors Entrepreneurs Still Make According to Hiruy Amanuel
If you’re starting a new business venture, you will most likely need to pitch to investors at some point. This is a critical step in your process since, without investors, your company’s growth might be more limited. Below, Hiruy Amanuel outlines the most common pitch mistakes and how to avoid them so you can secure funding.
1. Being Unprepared
No matter how long you have been an entrepreneur or how much success you have achieved, you must practice your pitch. Sufficient practice will help you determine the proper tempo for your presentation and keep your audience engaged.
2. Relying Too Heavily on Slides
When you’re making a sales pitch, potential investors expect a certain level of excitement and originality out of you and your presentation. While visual aids can undoubtedly elevate the quality of your pitch, investors do not want to watch you read off every slide.
3. Failing to Talk to the Audience
The best sales pitches do not feel like sales pitches. You should be talking to and communicating with your audience, not talking at them.
4. Having Too Much Data, Not Enough Story
The best pitches do not simply inform; they tell a story. At the very least, your pitch should have a clear trajectory or progression. It’s also crucial to show potential investors why they should care about your product. One great way to do that is to talk about the current market and explain what need or void that your product fills.
5. Refusing Outside Sales Talent
While it may be tempting to pitch your product or service yourself, do not be too proud to enroll a salesperson’s help. If you have a world-class salesman or -woman on your team, incorporate them into your pitch. As an entrepreneur, you must utilize all of your best resources when planning out a sales pitch.
6. Using a One-Size-Fits-All Pitch
One of the most common errors entrepreneurs can make is failing to adapt their pitch. It can take you countless hours to develop a great pitch. After putting in all the work, it may be easier to use the same pitch meeting after meeting.
However, the best pitches are adapted to their audience. While you can keep your pitch’s major and structural parts the same for all audiences, you must adjust tone and delivery.
7. Using a Pitch Deck
Pitch decks are often hailed as the perfect solution for developing a great sales message. However, it is essential to remember that they are designed for electronic, not verbal communication. You can incorporate compelling aspects of a pitch deck into your verbal presentation; just don’t follow it line by line.
8. Showing Off
If investors think your pitch delivery is full of false bravado, they will quickly lose interest and close their coffers. When making a pitch, you should view the conference room as your stage and perform as if you are the headliner. It is essential that your message feels natural, though, and not forced. Do not attempt to over-dramatize your presentation or be bold for boldness’s sake.
Instead, be genuine and put your passion on display. Create a message that embodies the story of your product.
About Hiruy Amanuel
Hiruy Amanuel is a dedicated entrepreneur and philanthropist. He has invested in various technological initiatives in East Africa with the aim to drive the rapid development of groundbreaking technologies throughout the area. Amanuel seeks to accomplish this goal by improving access to technological resources and high-quality education.
