Where to Get Feedback on Your Business Pitch in 2024
If you’re an entrepreneur seeking funding, you understand the importance and complexity of the pitching process. Creating a compelling pitch deck and finding an effective hook are just the beginning. The next step is testing your pitch to see how investors respond.
Why get feedback on your pitch deck?
Feedback is essential. Even if your pitch seems flawless on paper, it’s crucial to put all the elements together and ensure your deck, plan, and presentation are solid.
Seeking feedback from experts in your industry allows you to vet your metrics, identify any weaknesses in your presentation, and ensure it reads well before presenting to investors.
The more people who evaluate your pitch beforehand, the better chance you have of catching errors in reasoning, unclear assumptions, or anything that doesn’t make sense or flow well.
What feedback should you ask for?
Before approaching someone for pitch feedback, identify the specific elements you want them to focus on. This ensures they address the areas that matter most to you. Consider focusing on the following:
Overall aesthetics
Ensure your pitch deck aligns with your brand and uses clear, consistent, and useful graphics. Choose imagery that matches the focus of each slide, and use colors that are easy to read and skim through.
Clarity of content
Avoid stuffing your deck with unnecessary slides. Ask your audience to identify any sections that seem redundant, unfocused, or meaningless. Aim for a streamlined and digestible pitch deck for investors, while providing an expanded appendix for later reference.
Unanswered questions
Make sure your pitch addresses any gaps in your roadmap, outlines how you intend to use funds, and specifies your target market. Ask reviewers to identify any outstanding questions they have about your business.
Where to get feedback on your pitch
1. Do a "practice pitch" for potential investors
Invite potential investors to sit in on a pre-pitch session to identify any holes in your data or areas that require more thorough coverage. Seek feedback from investors outside your industry for a fresh perspective.
2. Ask an angel investor
Target angel investors for valuable feedback, even if they may not invest in your business. Platforms like Gust and AngelList provide access to regional and local angel groups.
3. Find a mentor and establish a relationship
Build a rapport with a mentor in your industry who can provide honest feedback. Organizations like SCORE connect entrepreneurs with potential mentors.
4. Ask your intended customers for feedback
Get feedback directly from potential customers to validate your business opportunity. Ask them about the problem you’re solving, its significance, and whether they would pay for your solution.
5. Head down to your local Small Business Development Center
Visit your local Small Business Development Center for assistance in polishing your pitch. They provide consulting, business plan development, and help with finding lenders and investors.
6. Get involved with a university entrepreneurship center
If you’re a student, take advantage of resources offered by your school’s entrepreneurship center. If you’re a former student, reach out to your alma mater or local universities to access their resources and faculty expertise.
7. Join a coworking space
Joining a coworking space provides opportunities to network, build connections, and receive feedback from other entrepreneurs, potential customers, and investors.
8. Enter a competition
Participate in business plan and pitching competitions designed for feedback. These competitions allow you to practice pitching and receive targeted feedback.
9. Deliver your pitch to friends and family
Present your pitch to people outside your industry to identify any areas where your explanation may be unclear. Ensure your pitch is inclusive to those less familiar with your field.
What kind of feedback is best?
There is no one-size-fits-all answer to this question. It’s best to seek feedback from a combination of sources to cover all your bases, ensure your numbers are accurate, and make your ideas clear and accessible.
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I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
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