There are a few mistakes most entrepreneurs make when they pitch. Most of these things are simple, but the less obvious ones are the ones that will ruin your chances of landing your investor.
- Introducing yourself before you state the problem. This is a huge mistake and it happens so often. People are so excited about where they are in their business and so engrossed in their idea or business that they forget that no one cares. That is the premise for all dealings with our fellow man, especially in business. The truth is we are all inundated with information, people that want things and its hard to weed out the people we want to work with from the rest of the noise. This is especially true for investors. Any investor worth pitching is getting hit up for investments on a daily basis. Stand out from the crowd and introduce the the problem that exists before you introduce yourself, give them a reason to remember you.
- Clothes make the man? Well this is true in a way wether you are a man or a wo-man. I often see people either underdress or overdress. Over dressing occurs when we are wearing clothes that we don’t feel natural in. Suits and ties are fine, but if your uncomfortable in a suit, you will look uncomfortable and it will inhibit your ability to deliver a great pitch. My advice is to wear pants, closed toe shoe and a shirt with buttons to be safe. T-shirts are hard to pull off, if you must make sure its a t-shirt form your business or plain, there is nothing worse than a distraction graphic tee that has nothing to do with the pitch.
- not knowing your math. Most people don’t have their numbers in line, whether its anual revenue, monthly burn or division of equity, most people fail in this area.
Be sure to have your ducks in a row, it makes all the difference.
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