If you are going from investor to investor and are being rejected every single time, either your idea is not substantial enough- but more often than not, you are making mistakes that can easily be rectified and help you get the investment required to start your company off.
1. Not Doing Adequate Research
It is very important to know who you are pitching your idea to as you need to see where their interests lie and what would hit the right notes.
2. Not Selling Your Team
Every Investor wants proof that your company will be able to pull off what you claim in your pitch. Not telling them about the potential of every individual in your team will make them wonder if you are worth the investment.
No one wants to know every tiny insignificant detail about your company or idea. The nitty-gritties are all they need to know. Only the important information should get out of the sieve.
4. No Story
A pitch needs a selling story that serves as a base and ties your presentation together. Investors need a powerful story to pique their interest in your idea.
5. Ridiculous Projections
Unrealistic projections and assumptions that you can’t justify will make you lose all your credibility. You have to acknowledge that you have worthy competitors but you can emphasize on the edge you provide over them.
6. Taking Offense on Criticism
When you get offended with the investors’ questions or criticism, you appear to be a hot-head who can’t manage their temper and are emotionally unstable. Think on your feet and woosh them away with intelligent answers.
7. Lack of preparation
A haphazard presentation, with you having to go through your notes every now and then, makes your lack of preparation evident and immediately dismisses you from the investors’ plans. Every pitch deck should have mandatory slide based on your research.
8. No Exit Strategy
Every Investor wants to see their ROI within a reasonable time frame and an idea of how it is going to happen. Not including an exit strategy with alternatives is the biggest rookie mistake you can make.
Go through your past pitches and analyse where you went wrong with these pointers. Make a perfect pitch deck to impress your investors at first glance. Breeze through your pitch with confidence and experience.