Interesting post on Linkedin by Creel Price on common pitching flaws. It starts (after having heard a series of pitches):
But unfortunately there were a few too many over engineered slide-decks and pitches that left me confused and with little understanding of what the business actually did long after waving them goodbye on the sidewalk. The reality is, there were countless flaws in the majority of pitches I listened to, which shouldn’t be surprising given how little support and training currently exists in the market for entrepreneurs.
The article is directed at angel investors and similar but the basic principles are widely applicable and apply in many situations.
The key points he highlights are:
FLAW #1: Not Being Succinct: try summarising everything into just one sentence. That’s often very hard, although that in itself may indicate that there’s an underlying problem or maybe you’re just not thinking about it in the best way (for others to understand).
FLAW #2: Not Speaking With Confidence: he suggests a conversational approach rather than canned powerpoint. Interestingly “Sure rehearse but then rehearse it so it doesn’t sound rehearsed.”. Everyone carefully practises presentations but maybe we should do the same for important conversations as well?
There has to be room for spontaneity and movement of course but it’s probably true that lots of the likely questions can be imagined beforehand. The interesting part of conversations are when something new occurs and changes you, not the formalities.
FLAW #3: Not Speaking Frankly: use simple clear language and avoid (often meaningless) jargon. The aim is communication in a short space of time rather than a superficial form of trying to impress someone.
FLAW #4: Not Being Authentic: this is actually a tricky one. Someone is buying into you (authentic, passionate, likeable) rather than an idea, business model or whatever. You can relatively easily change/modify the latter but not so easily yourself or your style. On the other hand, if things don’t work out then it may be more a case of incompatible chemistries rather than anything else.
FLAW #5: Not Having An Ask: in a wider context, this is also an interesting one. Lots of colleagues tell me what they’re doing, their trials and tribulations but very few ask me to do something specific for them. Why not? This links strongly to the previous points.
I’m reviewing a startup business plan at the moment and I’m going to rethink the situation using the points above, it should be a useful test.