The Problem with Startup Business Pitches

You it's time for viewer and listener mail. By the way, any of your questions that you have about public speaking, speaking to the media, crisis, communications, giving speeches, I answer them right here in a video and an audio. Also, if you just want to share comments and thoughts you have on speaking, I will pass those on to the audience. This one comes from Timothy in Nebraska. TJ I was invited to a meeting where a company was presenting to a five member panel and an audience of angel investors. Here's the setup. 1. The CEO and the CTO, the chief technology Officer were on the stage. They had two cameras rolling. 2. All the slides were text with as many as 10 bullets on each slide. 3. The CEO was speaking and the CTO was standing so that he was blocking the view of the slides. Number four it was not at all clear to me that he was following the slides. So here's the panel feedback. Number one not clear about your business model. Number two not clear what you're trying to accomplish and you have a vague value proposition. Number three need more information about the market, competitors and the financials. Number four the last panel is set. You guys need a speaking coach. You were not inspiring and engaging, enthusiastic, etc. And the writer writes in says I couldn't figure out what they were up to. Now I wish I could say this is somehow an aberration or this is a fluke and there's always a bottom 1%. But here's my assessment of a lot of new companies and entrepreneurs with their new business pitches. This wasn't a bottom 1% speech. This was the median. Basically half of all business presentations are like this or worse. And it is a shame. I understand. If people are starting a new venture and they're bootstrapping it and they don't want to spend a lot of money on someone like me, fine, I get it. But practice. Find your uncle and a couple of family members who are skeptical of your business venture anyway. Give them your presentation when you're done. Ask them what your business model is. Ask them how you plan on making money. Ask them about your competition. If your family members and friends can't answer those questions, you have failed. Do not practice on actual investors. Do not practice at an angel investing event. Practice. Practice on people where the stakes don't matter because they're not going to give you money anyway. Or they're going to give you money just because you're family because you don't want to end up in somebody's email like this. I'm TJ Walker. Thanks for joining me.