There are countless ways for entrepreneurs to get their pitch deck ignored or disregarded. By no means is this an all-encompassing list. However, this post may help you avoid at least a few of the most common issues that pitch decks tend to have.
Not Promoting a Great Story
Any team or business needs to be able to effectively communicate and answer the question, why you?
Why should I choose your product, business, or team over any other? Why do I want to talk to you over any of your competitors? The answers to these types of questions are often best answered with the telling of a story.
Effective storytelling can make or break a pitch deck presentation. Our brains are essentially wired to listen to stories. Throughout time the telling of stories has been one of our most fundamental communication methods. It has been proven that our brains become more active when listening to a story, and storytelling is possibly the most effective way to get a person engaged. Having your pitch deck convey an effective story can be the best way to get an investor’s attention.
Including Too Much Information
Most people have heard the phrase time is money. Entrepreneurs should keep in mind that an investor’s time is often their most valuable commodity. No investor wants to review a longer-than-necessary pitch deck, only to find there is no interest. Pitch decks that are much longer than 10 to 20 slides, or include too much information are almost sure to be ignored. Remember, the number one goal of your pitch deck is to further a conversation.
Bad Formatting
There is nothing like bad formatting to hinder the interest of an investor or a customer. Being too wordy, or using too small of a font is an instant turn-off for most investors. Remember that your pitch deck’s slides are considered an area to summarize your talking points, not an area to present every fact about your company. Your deck should be something that sparks interest and furthers a conversation, rather than something that tries to answer every question.
Try to make your pitch deck readable. When it comes to pitching, most people are fans of the KISS Method or Keep It Simple Stupid. Entrepreneurs should be aware that including lots of small text which outlines every possible technical detail about the company’s products is a big turn-off. As well, there is nothing worse than receiving a pitch deck that uses a light-colored font, on a completely black background.
In these cases, even if an investor wanted to read the deck they wouldn’t because of the formatting.
Entrepreneurs may also wish to consider that one in twelve men and one in two hundred women are color blind. So when using colors in your pitch deck make sure to test your color combinations against color blindness.
Claiming There Are No Competitors
This claim is a surefire way to have your pitch deck make it directly to the deleted folder or the trash can. This is possibly one of the biggest mistakes that entrepreneurs can make. To include a claim that your business has no competitors is like saying, there is no market for our product or service, or worse yet, our team is too lazy or inept to do any market research.
One Size Fits All
Your pitch deck should not be a one size fits all. Just like a resume, content should be varied depending on the audience you are submitting it to. Entrepreneurs should keep in mind that a pitch deck that is intended for investors will be drastically different from one that is intended for customers. Subtle variations and personalization to the different audiences will pay off in the end.
The Pitch Deck is Too Long
Entrepreneurs should realize that investors are usually extremely busy people, as such their time is very valuable. They typically don’t have time to sit through a very long pitch that lasts much longer than 10 minutes. Your pitch deck should be limited to 10 to 20 slides that are designed to stimulate an audience’s interest. Business owners should be aware that a pitch deck is a tool that helps to get the conversation going, rather than a complete tome of information about your company.
Summing It Up
By no means, is this an all-inclusive list of every problem that pitch decks may include. However, teams who keep these six issues in mind as they design their pitch deck may ultimately deliver a more effective presentation.
So to reiterate our key points once more. Have your pitch deck tell a compelling story, and don’t overwhelm your intended audience with too much information.
Double-check that your formatting is both clean and readable. Be sure to include your research, and do not claim that you have no competitors. Make sure that you tailor your pitch deck to your intended audience. By putting these suggestions into practice you should be able to make your pitch deck a far more effective tool.
For further reading, we suggest that you take a look at CNBC‘s coverage of TechStars’ Brad Feld: How to create a killer start-up pitch.
