Think of all the times you’ve had to give a presentation, then think about the high stakes of giving a presentation to a group of investors or potential consumers of your product or idea. Does that thought make you shudder or panic? That’s because, for most of us, it’s really hard to convey a message succinctly, clearly, and in a manner that captivates the hearts and minds of our audience.
Let’s be real, pitching is no small feat. It’s a challenge that requires endless practice according to Nicole Glaros, Chief Innovation Officer at Techstars a prominent startup accelerator, and David Mandell, Entrepreneur in Residence at Techstars. Between the two of them, they’ve coached plenty of teams, listened to tons of pitches, and pitched in front of enough major investors to know the pitfalls and weak spots of most founders. In fact, Nicole mentioned a time when actually threw ping pong balls at David while he was practicing in order to demonstrate that no matter what happens during your presentation, you have to be focused and know what you’re trying to say.
This week, we were lucky to have Nicole and David present a “How to Pitch 101” workshop to our students and community members at CU Boulder. A point they emphasized was that you only have the first 30 seconds (or even less) to impress and attract the attention of your audience. That’s why nailing your pitch and being able to do it in your sleep is critical.
Practice, practice, practice, and more practice was a sentiment that both underscored. In fact, towards the end, one audience member asked if David could demonstrate the first part of a pitch for one of his companies, and without hesitation, he stood up and delivered a powerful pitch intro, which was from ten years ago. David concluded that you have to know your pitch in your sleep. You need to have it down cold.
With over avid 100 attendees, and more on the waitlist, this session was in high demand, and for a good reason. Nicole went through a slide deck of the most common mistakes presenters make. Everything from too much text and reading your slides to showing confusing graphs and not having a clean ending. The information and tips were solid, and Nicole and David knew their stuff.
Final thoughts from Nicole and David, remember that the purpose of a pitch isn’t to sell your product, it’s to land a meeting with an investor.