The 6 Most Common Mistakes Founders Make With Their Pitch Deck (And What To Do Instead)

Crafting the perfect pitch is an essential step for any startup founder seeking investment. 

Clarity is an essential part of this but can be a challenge for founders. It requires attention to detail, often involving minor adjustments that can significantly enhance your message. Many founders make the mistake of not dedicating enough time to this process, resulting in pitches that are cluttered with unnecessary information.

While it might be tempting to turn to familiar faces for feedback or advice, not all sources are equally valuable. Friends and family, while supportive, can be biased. Fellow founders without fundraising experience may lack the necessary insights. Even investors themselves might not always provide the constructive critique you need. 

Our friends at the investment readiness agency Robot Mascot have created this article to help you avoid these common mistakes. The article will explain why certain feedback sources might fall short and offer practical advice on where to seek the most effective guidance to refine your pitch and improve your chances of securing investment. 

1. Asking friends and family

While this group of people are great for raising your first round of investment, they’re useless for getting feedback on your pitch; pretty much for the same reasons. They love you; they don’t want you to fail; and they’re afraid to offend you. All extremely useful traits when looking for a few grand to keep the dream alive, but completely useless when asking for their honest feedback on your pitch. Sure, they’ll spot some spelling mistakes, but they’re unlikely to give you the hard-hitting feedback you need.

Our advice

Instead of relying on friends and family, seek feedback from impartial and experienced individuals. This could include mentors, industry experts, or professional pitch coaches who can provide honest, objective, and constructive criticism to help refine and improve your presentation.

1. Make a list of mentors, industry professionals, or experienced entrepreneurs who have successfully raised investment.
2. Contact these individuals with a clear, concise request for feedback on your pitch.
3. Ask targeted questions to get detailed, actionable feedback. For example, inquire about the clarity of your value proposition or the strength of your business case.
4. Use constructive criticism to refine your pitch, focusing on areas highlighted for improvement.
5. Continually seek feedback from different sources and iterate on your pitch until it is clear, concise, and compelling.

2. Asking other founders who’ve never raised investment

There are two types of founder: those who have raised investment and those who haven’t. Those who haven’t are not qualified to pass judgement on your pitch content. They’ve never successfully convinced an investor themselves, so they’re not the best source of information. As friendly as the other founders are in your co-working space, don’t end up co-creating your pitch with them – what was once quite clear will quickly descend into a mangled mess of differing opinions.

Our advice

Instead of seeking feedback from founders without investment experience, consult those who have successfully raised funds. Their insights, grounded in practical experience, will be more valuable and relevant.

1. Create a list of founders who have successfully raised investment for their startups.
2. Reach out to these founders with a polite and concise request for feedback on your pitch.
3. Focus on specific aspects of your pitch where their experience can provide the most value, such as investor expectations or effective communication strategies.
4. Use their feedback to refine your pitch, paying close attention to areas they highlight for improvement.
5. Continuously refine your pitch based on feedback from experienced founders and test it with potential investors to gauge effectiveness and make further improvements.

3. Asking investors

Requesting feedback from investors, unless you have a long-standing personal relationship, is generally inadvisable. Investors are often overwhelmed with unsolicited requests and lack the time to provide detailed assessments. Moreover, they may not have the communication expertise to offer constructive feedback on your pitch’s clarity. They are more likely to express confusion about your idea without providing specific guidance on how to improve it.

Our advice

Since investors are inundated with pitches and requests, they are not ideal for feedback unless you have an established relationship. Instead, seek feedback from communication experts or experienced entrepreneurs who can provide actionable advice.

1. Look for professionals who specialise in pitch coaching, business communication, or presentation skills.
2. Find entrepreneurs who have successfully pitched to investors and secured funding.
3. Contact these individuals with a clear and respectful request for feedback on your pitch.
4. Ask specific questions about the clarity and impact of your pitch, and how you can improve these aspects.
5. Use the detailed, actionable feedback from these experts to refine your pitch, ensuring it is clear, concise, and compelling.
6. Continuously practise your refined pitch and seek further feedback until it meets the high standards expected by investors.

4. Thinking questions are feedback

As you start pitching to investors, you’re bound to be asked some questions. You can only put the highlights of your plan in your pitch, so it is inevitable that investors will want to know more. Don’t assume these questions are feedback from investors that this information is missing from your pitch. 

It’s tempting to go away from a pitch meeting and update your deck with answers to the questions you’ve just been asked. Sure enough, at the next pitch you’re asked more questions, so you go back and update your slides again. Before long you’re back where you started, and your pitch is long, cluttered and confused. Once you’ve completed your pitch, stick with it. Expect to be asked questions, be happy to cover them verbally and offer to send those asking a copy of your full business plan. 

Our advice

1. Develop a clear and concise core pitch that effectively communicates your main points and value proposition.
2. Prepare for common investor questions and practice answering them verbally.
3. Create a comprehensive business plan and other detailed documents that you can share with investors who want more information.
4. Avoid frequently changing your pitch deck after each meeting. Instead, use feedback to improve your verbal responses and supplementary materials.
5. Rehearse answering potential questions confidently and clearly, ensuring you can address concerns without altering your core pitch.
6. When investors ask detailed questions, offer to send them your comprehensive business plan or other supplementary documents that provide the needed information.
7. Keep your pitch deck focused and streamlined, and provide additional details as needed through verbal communication and follow-up documents.

5. Increasing the number of slides

If you’re unable to convey the information you want in one slide, the answer is not to split it into two. If you’re struggling with this, it’s because you’re trying to convey either too much information or offer too much detail—in which case, be brutal and cut some content. If you’re struggling to cut your slides down to fewer than 75 words, you may need some professional help.

Our advice

Focus on condensing your message. An overloaded slide indicates a need to cut content, not expand it. Aim for brevity and precision, and seek professional assistance if necessary.

1. Determine the most critical information that needs to be included in each slide.
2. Remove any information that is not essential to your core message. Focus on the most impactful data and insights.
3. Replace long paragraphs with concise bullet points to make your slides easier to read and understand.
4. Aim to keep the text on each slide under 75 words. Use visuals like charts, graphs, and images to convey information more effectively.
5. If condensing your slides is challenging, consider hiring a professional pitch coach or presentation expert to help streamline your content.
6. Continuously review your slides to ensure they are concise and focused. Ask experienced presenters for feedback to identify areas for further improvement.
7. Rehearse your pitch with the streamlined slides to ensure you can deliver your message clearly and confidently within the allotted time.

By following these steps, you can create a more effective and engaging pitch that communicates your key points succinctly and powerfully.

6. Using bold text

Rather than taking the time to consider the content and reduce and refine the message so that it’s clear and concise, many founders simply go through their deck and, in long paragraphs, set certain words and phrases boldly. While this action goes some way to telling the investor what you think is most important, you’re leaving this critical content surrounded by unnecessary narrative. Cluttering up the slide and making it harder for investors to get quickly to the crux of the business case in the few minutes they’ve set aside for reading your pitch.

Our advice

To enhance pitch clarity, focus on key points by using concise bullet points or short sentences, and simplify your language to ensure broader understanding. Trim unnecessary content and use visual aids to illustrate key data effectively. Ensure a logical flow that builds a cohesive narrative, and practice brevity by limiting text to essential information. Seek professional help if needed, test your pitch with diverse audiences for feedback, and rehearse extensively to deliver a smooth and confident presentation. These strategies will help create a clear, concise, and compelling pitch that investors can easily grasp.

Clarity is essential in crafting a compelling pitch. Avoid common pitfalls such as seeking feedback from biased sources, overloading your presentation with information, or reacting to every investor question with slide updates. Stick to a clear, concise message and seek constructive feedback from experienced individuals. This disciplined approach will enhance your pitch and increase your chances of securing investment.

Our friends at Robot Mascot have supported hundreds of founders and their clients have raised more than £200m. Get more investment advice, guidance and resources to help you create the perfect pitch from Robot Mascot!