It’s fairly easy to come up with an idea based on a perceived consumer need, but what is not so simple obvious is spending time to create the compelling metrics and fact-base around why or how a start-up has a chance of success.
What’s the pitch panacea? Good old fashioned honesty compensates for a lack of evidence and questionable or biased basic research.
Here is a list of principles to abide by to ensure you do not get your pitching game wrong:
- Don’t boast
One should avoid sugar coating assumptions and facts, few as they may be, as the more assumptions used during a pitch, the less investible one becomes as any sensible investor will quickly call the founder’s bluff
- Don’t debate
An individual who admits the flaws in their pitch yet offer solutions, give the investor confidence that whatever the issue, it will be resolved before the check is cut.
- Don’t ask for more finance than you need
- Don’t make promises
One of the most difficult statements to swallow when hearing a pitch is “we will do…” or “we are planning to…” While amateurs pitch on promise, more experienced entrepreneurs (the ones that are more investible) will state the facts with some personal interjection that supports their justifications for obtaining investments.
If you wish to read more elaborately on this topic, make sure you check out this website: http://startups.co.uk/how-not-to-pitch-your-business/