A big part of the SCALEit Ignite week is pitching your business idea to investors and business angels. We have seen many pitches throughout the years and identified some of the common mistakes startups make. Here is a quick check list of often seen errors.
In a later post we will dig deeper into what content that is important to include in a good pitch.
$ not €
Fahrenheit not Celsius
Miles not Kilometers
How to write big numbers
A common way to write big numbers is like this:
1 million USD is written like: $1M
500,000 USD is written like: $500K and so forth
And remember that Americans use thousand decimator opposite as we do.
A billion is 1,000,000,000 (or a thousand millions) and is written like this: $1B.
email adresses - use your name!
People buy from people - not initials. Use your first name in email adresses instead of initials. Even if you plan to be a company with more than 10,000 employees - at this level you won't have to use creative and strange abbreviations.
Font sizes - "divide by 2 rule"
As always you should rely more on pictures and graphics to help stress the points you are making in your presentation. Yes pictures say more than a thousand words. However, should you choose to use text in your presentation there is a golden rule of thumb when it comes to chosing the right font size.
What age is the oldest person in your audience? If the person is 50 years old your smallest font size should be 25.
TLA's - Three letter acronyms
Don't use them! People within your industry might use well-understood acronymous all the time, but don't expect that all investors do. Therefore spell out the words to avoid misunderstandings.
Always remember that the final slide is the one that'll probably be on the screen the longest. Don't miss a golden opportunity to refresh what your key message is. If you have a "Thank you very much" slide - make sure to a) either click one slide back with your summary or b) have an extra slide after the "Thank you slide"
Our take would be: Lose the Thank You slide and stick to your summarization slide.
And as always: Keep it Simple!