Top 3 pitch deck mistakes founders make—and how to avoid them
You have a great idea for a business venture.
The market is ripe.
You’ve sacrificed countless hours and dollars to bring it this far.
It’s time to secure funding.
And you’ve been given an opportunity to speak with would-be investors.
Would you wing it and just talk “off the cuff”?
Would you want to know if you were handicapping yourself with your deck or your presentation somehow?
Since 2018, I’ve been coaching entrepreneurs/founders through the public speaking aspect of preparing to pitch their ideas for funding. And I see the same mistakes again and again: entrepreneurs unnecessarily impeding the investors’ ability to see the merit of their idea. These are entirely preventable errors that are easily fixed, smoothing the path to successful fundraising efforts.
Top 3 pitching pitfalls:
1 A disorganized, confusing pitch.
Even when all the right components are present, if the content doesn’t flow logically and there isn’t a cohesive message, the pitch won’t be effective.
Cause: Entrepreneurs start the process of developing their pitch by using a pitch deck template and merely plug in their content.
Instead: Start with a piece of paper and craft the pitch using a three-act storytelling framework. Be sure to include a hook to grab the investors’ attention. Make it relatable to them immediately.
Related: Be sure you tailor your pitch to the audience. Yes, that means you need to customize it every time.
2 Investors reading the slides instead of listening to the entrepreneur.
If you have the chance to meet with investor to pitch your business, you want them to listen to you—not just read your slides. If they only need to read the slides, then you don’t even need to be there to present. Since humans can’t effectively read and listen at the same time, wordy slides are a distraction.
Causes: (1) Treating the slides as a script and (2) including more detail than is warranted for the stage of the conversation. Both result in having too much text on the slides and virtually every audience will read instead of listening.
Instead: Guide the conversation by limiting text to only what’s utterly necessary. Think of your slides as billboards: if the audience can’t interpret the slide within just a few seconds and return to listening to you, there’s too much verbiage on them. Split out the content onto multiple slides so that there’s just one idea on each and make the message as visual (images, charts) as possible. If any of the text is really only there to help you remember what to say (be honest), move it to the presenter notes. Create an appendix that shows greater detail in order to answer questions that arise.
Related: Be sure your pitch is suited to the conversation you’re having. At the early stages, your objective is simply to win the next conversation so choose the appropriate level of detail.
My other pet peeves in pitch decks: embedded videos, unnumbered slides, cluttered slides, superfluous branding/logos, ending with a ‘thank you’ slide. Not sure why these are impediments or how to solve them? Ask me.
3 Not conveying passion, competence and (an appropriate degree of) confidence.
While the quality of your idea absolutely matters, investors are ultimately investing in the founders and the team surrounding them. You are the spokesperson for your venture, which means you need to communicate in a compelling, effective manner—both verbally and non-verbally. Fascinating research indicates non-verbal communication is weighted more than most investors would care to admit.
Causes: Lack of awareness in how you come across (i.e. public speaking tics you may not know you have, being perceived as arrogant or nervous), lack of practice requiring you to rely on notes or fumbling through the delivery even if the content is great.
Instead: If your content is well-structured (reference #1 above), it should flow smoothly and logically, making it easier to retain. Practice at least weekly even if you don’t have an appointment to pitch. Know the key point of each slide and memorize that single, important sentence verbatim. Record yourself and evaluate the footage. Ask for feedback from trusted colleagues, mentors, or a public speaking professional like myself.
If the business venture is worth your time and energy (and that of an investor’s), it’s also worth learning how to speak about it in a clear, compelling fashion. After all, if someone doesn’t understand what your business accomplishes, they’re unlikely to fund you. Improve your odds of securing funding by constructing a clear, coherent narrative, developing impactful slides, and delivering the pitch with poise.