How To Improve My Pitch: 40 Tips You Can Use Today

How To Improve My Pitch: 40 Tips You Can Use Today

How to improve my pitch?

The question: ‘how to improve my pitch?’ gets asked a lot. When it comes to improving your pitch, there are numerous answers to this. Therefore, the question: ‘how to improve my pitch?’ doesn’t have one single answer.

To help you improve your pitch, I would have to schedule a 1-on-1 session with you and go over your pitch. However, since that would be time consuming, I decided to create a list of the 40 tips I’ve given the most often to the entrepreneurs I Coach.

These tips work well when you’re preparing you pitch, but they also apply to public speaking in general.

So how to improve my pitch? Let’s go!

 

 

Don’t want to read everything?

These are the 40 tips on ‘How to improve my pitch?’

#1 Start your pitch with 2 seconds of silence after you’ve walked on stage

When you walk on stage, it comes across strong when you wait 2 or 3 seconds before you start talking. It shows that you are confident and relaxed.

At the same time, it gives your audience the time to study you before you start talking. This way they can solely focus on your words when you actually start talking.

 

#2 Wait with introducing yourself until you’re at the end of your pitch

The mistake many people make, is that they introduce themselves at the start of their pitch. The problem is, when you didn’t deliver a good story yet, people have no reason to remember your name.

You have to earn the right to be remembered. Use the first minute of your pitch to impress your audience before you introduce yourself.

 

#3 Limit your pitch to a maximum of 2 minutes

A short pitch gets remembered better than a long pitch. Although most pitch competitions limit its participants to 2 minutes, it’s a good habit to train yourself anyway.

#4 Limit your pitch slides to a maximum of 6 slides

A lot of pitch slides make for a lot of distraction. During your pitch you want your audience to pay attention to you, not to your PowerPoint. Limit the distraction and don’t go over 6 slides.

 

#5 Start your pitch with a bold statement

A good pitch grabs your attention right from the start. A bold statement definitely does the trick. Start your pitch with a statement which ‘shocks’ your audience. A few examples:

  • 92% of the public speakers are terrified to do a pitch.
  • Human beings are more scared of public speaking than from death.
  • Every day 40.000 people quit their job and start their own company. 90% of them is back to being an employee within the next 2 years.

 

#6 Talk slower than you would usually do, especially when you want to emphasize an important sentence

If you want your audience to remember what you say, you should give them time to process is.

Therefore, you should talk slower during an important sentence. To fully leverage this effect, you should drop a 2 second pause after this sentence.

 

#7 Use a presentation clicker, so you don’t have to worry about your hands

For many people, positioning your hands can be an awkward thing. To prevent yourself from making uncomfortable moments, just use a presentation clicker. Not only will this make you more comfortable, it also helps you to smoothly go to the next slide.

 

#8 Stand still when you’re pitching

During your pitch, you want your audience to pay attention to what you have to say. Any form of distraction is unwanted and is a potential killer of your pitch. Therefore, you shouldn’t walk during your pitch. Stay still and have your audience pay attention to your words instead of your movements.

 

#9 When you write your pitch, image you’re talking to an old friend

This trick helps you to talk as natural as possible. Whenever you’re writing your pitch, imagine you’re talking to a friend. A friend that you haven’t seen in a long time. Imagine he asks you what your company does and why you’re so excited about it.

#10 Make a speaking ‘legend’ when you write your pitch

Not every sentence should be pronounced in the same way. Some sentences deserve more attention than others. You can prepare this by adding a speaking legend to your pitch text.

Normal sentences This is a regular sentence with no special layout.
Important sentences This is an important sentence which I made bold. I will speak slower and louder.
A break after your important sentence I will end this important sentence with a silence.  * SILENCE *

 

Hi! I’m Ralph. I help startups to get funded by designing a persuasive pitch.

Did you find the first 10 tips useful? Great!

Let’s continue with ‘How to improve my pitch?’

#11 Use power words such as ‘magic’ and ‘phenomenal’

Steve Jobs was a master of power words. He uses many words such as ‘magic’ and ‘phenomenal’ in his pitch.

Check out more power words in this article.

 

#12 Use 2 seconds of silence when you switch to a new topic

When you are talking and you switch to a new topic, it’s good to give your audience a small break. By being silent for 1 or 2 seconds the audience understands that you are switching to a new topic.

 

#13 Plan pauses after you said an important sentence

As mentioned in pitch tip 10, you should plan pauses after you said an important sentence. This is not only valid for your pitch, but also for the Q&A afterwards. Whenever you mentioned something important (for example a unique selling point) you should take a 2 second pause.

#14 Make your arms wide when you address an important sentence

When you come to most important part of your pitch, you should emphasize this by moving your arms wide.

By moving your arms in a wide position you suggest that the topic is very important, therefore the listener will pay more attention.

 

#15 Only use words which a 10-year old would understand

This tip important, especially for intelligent people. Intelligent people tend to use difficult words. Some entrepreneurs think it makes them seem like experts if they use industry jargon. Unfortunately for them that’s not the case. It makes you look silly and it will drive your listener elsewhere.

#16 Prepare the Q&A by writing all possible questions you can get

While you are in the preparation phase, you should reserve some time to prepare the Q&A. You start off with writing down every possible question you could get.  This helps you to be prepared for difficult questions.

 

#17 Only mention necessary information, skip the details

Many entrepreneurs are really excited about their company (which is great). The problem is, that they want to discuss everything with their audience. Don’t do this.

Focus on the essentials. This keeps your pitch exciting and keeps your audience listening.

 

#18 The aim of your pitch should be to make somebody excited, not to sell your product

When you write, practice and perform your pitch, your goal should be to create excitement. You want your audience to become excited about you and your company.

When you do this, sales will automatically follow.

 

#19 Remove any text from your pitch slides and only use beautiful pictures

Any form of distraction is potentially disastrous for your pitch. The number one distraction of a pitch is text on your pitch slides. This will make your audience go back and forth between the text on your slides and your spoken words. When your audience gets confused, you lost them and your pitch is over.

#20 Make eye contact with your audience and never look at your slides

Eye contact is one of the most important things in a pitch. It helps you to create a connection with your audience and at the same time it makes you likeable.

Pick a few people in your audience and make eye contact with them during your pitch.

 

Hi! I’m Ralph. I help startups to get funded by designing a persuasive pitch.

You’re half way. Way to go!

Let’s continue with the next tips on ‘How to improve my pitch?’

#21 Learn your pitch text extremely well

You should learn your pitch extremely well. Since reading a pitch from a paper is considered bad and unprepared, you should do it by head. Since you don’t want to think about your next sentence when you’re on stage, you should learn your text from A to Z.

#22 Show your hand palms throughout your pitch

Research shows that showing your hand palms creates a sense of trust. Use this to your advantage and show your hand palms frequently through your pitch.

 

#23 Practice your pitch at least 50 times

A good pitch, is a practiced pitch.

Your audience will have an easy time to see whether you practiced your pitch or not. Practicing your pitch significantly improves the delivery of your pitch. Since you’ve already practiced your pith 50 times, you’ll become comfortable with your text and your pitch will feel way more natural.

 

#24 Give your pitch a clear structure

A clear pitch structure makes it easy to listen to. The best pitch structure you can use this the following:

  1. Opening
  2. Problem
  3. Solution
  4. Business model
  5. Team
  6. Call to action

Check out this article to learn about about a pitch structure

 

#25 Practice your pitch with at least 3 friends and gather feedback

Gathering feedback on your pitch is one of the best ways to improve your pitch. Not only will this create you a better pitch, it will also give you more confidence to perform it on stage. Since you already did a trial run with other people, you’ll be more comfortable during the actual pitch.

 

#26 Research your competition to know what you’re talking about

This one doesn’t particularly apply to your pitch, but more to the Q&A. There is nothing more embarrassing than a pitcher who isn’t able to mention his competition. This gives the impression that you didn’t do your homework and you won’t be capable of executing your company.

 

#27 Always mention the size of the market in your pitch

To increase the impact your pitch, you should emphasize the potential of your company. Since the potential of your company largely depends on the size of the market, this is one of the most important things you should include in your pitch.

 

#28 Talk about the progress your company made, it gives credibility

If you want your audience to believe in you, you should share your progress. Tell your audience what you already achieved, and how much it costed you. If you’re able to acquire 100 customers with only $200 in marketing expenses, they can only imagine what you’d be capable of if you would have a real budget.

 

#29 End your pitch with a clear call to action

A good pitch ends with a clear call to action. Tell your audience what you want them to do. Should they buy your product? Should they buy a subscription? Or even better, should they invest in your company?

Forgetting to include a call to action in your pitch is like fishing without a hook: you can do all you want, but you won’t accomplish anything.

 

#30 Mention the benefits of your product, not the features

Many entrepreneurs feel like the technological features of their product are important to mention to their listeners. This is a big mistake.

Instead of telling them how it works, you should focus on what it can do for them.

For example:

Don’t say: Our  app is developed in Swift and has a 0,001 processing time.

Do say: Our app is so fast; you can make a restaurant reservation within a heartbeat.

 

Hi! I’m Ralph. I help startups to get funded by designing a persuasive pitch.

You’re almost there, 10 more tips to go. I hope you find these tips useful.

If you do, would you be so kind to share them on LinkedIn? That would mean a lot to me :).

Let’s continue with ‘How to improve my pitch?’

#31 Focus your pitch on the one problem your company is solving, not four.

Your company might solve 4 problems at the same time. Awesome.

Unfortunately, you should only mention one. It’s too much for your audience to remember everything.

If you mention one problem which you solve, they’ll remember one.

If you mention four problems which you solve, they’ll remember none.

#32 Always thank your audience if they give feedback on your pitch

It’s not always nice to receive feedback. Especially not if you prepared your pitch for ages and afterwards somebody starts criticizing your pitch.

Although I completely understand your frustration, you should nobody notice it. You don’t want your audience to remember a frustrated entrepreneur, you want them to remember a great pitcher with a great capability of receiving feedback.

#33 Stay away from cliché phrases

There are several cliché phrases you should never use. They make it look like you copied your pitch from somebody else. Besides, they hurt your credibility anyway. A few examples:

  • We just need 3% of the market(not likely you will get that)
  • We will go viral through online marketing(unless you already have big traction, why should I believe this)
  • This product promotes itself(probably not)
  • We will be bought within 2 years by Samsung or Apple(probably not)

 

#34 The qualities of your team members are more important than their names

Your audience doesn’t care about the names of your team members. They care about what they can bring to the table.

‘Did one of your team members work 6 years at Google? Nice, he will definitely add value to your company.’

‘Is one of your team members called Tom? Okay, I’m not going to remember that anyway’.

 

#35 Business casual is the way to go

Whenever you’re unsure about what to wear during your pitch, it’s always best to go business casual.

For men this means a shirt with a blazer, for women this could be nice dress.

 

#36 Smile like you just won the lottery

Research shows that smiling is contagious and impacts the mental state of your listener. When you smile, your listener is likely to start smiling as well. Since a happy audience will perceive your pitch as better, a happy smile is the way to go!

 

#37 Always be excited about your company

It doesn’t matter whether you had a really bad week, whether you just fired your bests employee or you’re about to go bankrupt. You should be excited about your company.

If you’re excited, other people become excited as well.

 

#38 Double check your technology

There is nothing so embarrassing as a freezing PowerPoint presentation.

When the IT doesn’t work the way you want it to, this makes you look unprepared. Not only will this hurt your credibility, it will distract your audience from your pitch.

 

#39 Be energized when you walk on stage

The reason why you should pitch with a lot of energy, is because it is highly contagious. Roberto Cialdini, expert on influencing, describes in his book that human beings tend to mimic each other.

If you’re able to pitch with a lot of energy, so will your audience be. Since energized people are more positive, this will work in your advantage when they mentally judge your pitch.

#40 Analyze the audience before you write your pitch

Is your audience full of tech IT professionals? Tell them a little bit about your IT structure.

Is your audience full of financial experts? Don’t forget your financial overview.

Is your audience small? Make your pitch engaging, open your pitch with a question to the audience.

Every audience demands a different approach.

Hi! I’m Ralph. I help startups to get funded by designing a persuasive pitch.

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How To Talk About Your Achievements Without Being Arrogant

How To Talk About Your Achievements Without Being Arrogant

How to talk about your achievements without being arrogant. This is probably one of the most complex social questions there is.

There are many situations where you want other to know you’re skilled and/or knowledgeable on a certain domain. A few examples:

  • You want investors to know you know a lot about the market
  •  You want potential partners to know you have a lot of experience with this industry

 In both scenarios it’s important the investor or the potential partner know you’re skilled. This gives you an authority and a certain credibility which increases your (negotiation) power significantly.

In short: In certain situations, you want other people to know you are highly skilled or educated in a certain object. It’s your goal to tell or show them.

At the other hand, you don’t want them to think you’re an arrogant jerk.

Let’s put it into a formula. The more you brag, the higher you score. If you never brag, you score zero points.

0 = Nobody thinks you’re arrogant, but nobody knows about your skills either

100 = Everybody thinks you’re arrogant, but at least you told them about your skills

If you score 0, that’s bad.

If you score 100, that’s also bad (who would ever listen to a person like this)

So how do you talk about your achievements without being arrogant?

You would probably think that the right approach would be in the middle. You brag a little, but not too much. You would aim for a score of 50.

Right?

Well, not entirely. Today you’re going to learn a few tricks to talk about your achievements without being arrogant.

By using the tricks mentioned below, you can demonstrate your skills, but nobody will think you’re arrogant. Apply these 7 methods, and you’ll know how to talk about your achievements without being arrogant.

Is your startup ready to pitch?

You think that’s impossible? Let’s start.

 

How to talk about your achievements without being arrogant

If you don’t feel like reading the entire article, feel free to use the headers below.

#1 Use facts, not opinions

Demonstrate authority by using facts instead of opinions

I can tell you that I’m the best pitch coach there is. However, I can also tell you that I coached hundreds of entrepreneurs with their pitch.

By simply mentioning facts instead of an opinion, I leave it up to you to decide what you think about it. As long as your facts are positive, so will be their judgement of you.

#2 Mention we-achievements, not I-achievements

For some reason it’s annoying when somebody talks about how good he/she is. However, when he talks about how well his/her team has been doing, this changes everything.

When you pitch your company, talk about the things your company achieved, instead of just you.

#3 Avoid superlatives

It can be tempting to use words such as ‘super’, ‘very’ and ‘the best’. However, this decreases your credibility and will make you sound arrogant.

Instead of saying ‘our team works super hard’ you should rather say ‘our teams works hard’. Simply deleting one word changes everything.

 

#4 Be grateful about your success

Let’s say your company is doing really well and at some point throughout your pitch you mentioned this. It can be incredibly powerful to add the following few words after that: ‘I still can’t believe how fast we’re growing’. You can also use variations such as ‘I’m still shocked sometimes how fast things are going’.

#5 Use your business partner

This one works especially well when you’re in a meeting with an investor or a potential partner. Bring your business partner to a meeting, and have him/her mention a few of your achievements during the meeting. This won’t make you seem arrogant, but still gets the message across.

#6 Don’t share all your achievements

What? Don’t share all my achievements?

That’s right. If you mention all your achievements, this will be overwhelming. Try to use the ones which are relevant to this person or to this situation and use them to your advantage.

#7 Share the struggles too

This one derives from the same thoughts as number #4. Instead of mentioning all the success you’re having, it can be powerful to (quickly) mention one of the struggles you had too. Not only does this make you sound humble, it also shows that you were able to fight yourselves from a bad position to the position where you are today.

If you really want to leverage this tactic, try to blend it in a story. ‘The first few months we knocked on every door to do our sales. Some days, we wouldn’t even close one customer. I’ve had days where people would be screaming at me, in the rain. That was tough. It’s crazy to see that a few months later, our company is doing $250.000, – in sales per month’.

This does not only meek you sound humble; it also involves a little bit of storytelling. Who doesn’t love a good story?

Conclusion

It’s okay to talk about your achievements. Better yet, you should talk about your achievements. Use these tactics to talk about your achievements without being arrogant. Good luck!

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Why Your 120 Second Pitch Is More Important Than Your 60-Page Business Plan

Why Your 120 Second Pitch Is More Important Than Your 60-Page Business Plan

Whenever you start a company, there a few things you should do. Many business men will tell you to start off by crafting the perfect business plan. Although a crafting a business plan will never hurt, it is highly overestimated.

Even top universities such as The Erasmus University in the Netherlands teaches their students to stop wasting time on a business plan. The number one masters in entrepreneurship teaches it’s students to start by putting your company on one piece of paper.

‘Business plans aren’t flexible and don’t get read by investors. The only reason why you should create a business plan is to force yourself to think about your company, but there are other ways to do this too’.

I’ve experienced it myself, over the past year I’ve talked to over 30 investors. Of those 30 there were only 2 investors who asked for the business plan. The others are more interested in the product, the market and the team.

The Business Plan Pitch Battle

Importance of a pitch

Since many investors don’t have time to read your business plan, you should use your time to focus on your pitch. Unfortunately, many entrepreneurs work months on the perfect business plan and only use a few minutes to think about their pitch. Actually, many don’t even write their pitch, they rather ‘improvise’ one.

That’s crazy if you think about it.

Is your startup ready to pitch?

How often investors listen to a pitch

Investors listen to over 20 pitches every week. Whether it’s during a face to face meeting, during an informal occasion or through a formal investor meeting.

Because investors listen to many pitches, they’re able to quickly identify a potential goldmine versus a dead end.

How often investors read a business plan

As mentioned, investors don’t have the time to read a business plan. Although there might be some informal investors, they usually scan the main parts before jumping to the financials. Many investors don’t even take time to read anything at all.

 

Why you should still make a business plan

Now you know where you stand in the business plan pitch battle, there’s something I would like to advise you on.

Although a pitch seems to be superior to the business plan, it’s still smart to create a business plan. However, don’t expect others will actually read it. You should write a business plan and use it to help yourself. By forcing yourself to write a business plan, you make yourself think about aspects of your business you would never have otherwise.

I still dig up my business plan every now and then, just to make sure I’m going in the same direction I once intended to.

Conclusion

Write a business plan, but don’t expect investors to read it. Instead of wasting a lot of time on making your business plan perfect, use it to construct a solid pitch.

Check out the Ultimate Pitch Guide to create one for yourself.

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This Is How You Win A Startup Pitch Competition (7 Tricks)

This Is How You Win A Startup Pitch Competition (7 Tricks)

Join a startup pitch competition

Seriously. Startup Pitch Competitions are hot.

Entrepreneurs, investors, the press and even the corporates love them. This makes sense, as it’s a great place to expand your network and create new business opportunities.

If you’re an entrepreneur, you might be wondering if it’s a good idea to participate in a startup pitch competition. After all, you’re revealing some company details an audience which potentially includes competitors.

The benefits of a startup pitch competition

At PitchSkills we’re big fans of startup pitch competitions. In our opinion you should always participate in a startup pitch competition if you have the chance. Here’s why you should participate in a startup pitch competition:

#1 You raise awareness amongst potentials partners and investors

#2 You create free publicity for your product of service

#3 You improve yourself as a public speaker

#4 You will increase your network with valuable people

 

As you just learned, participating in a startup pitch competition brings you many benefits. Now you know that you should participate, it’s time to learn how you can actually win one.

Is your startup ready to pitch?

How to win a startup pitch competition?

 

If you don’t feel like reading the entire article, here are the 7 steps to win a startup pitch competition.

#1 Research the competition and its contesters

When you participate in a startup pitch competition, you have to figure out what the competition is all about. Research the website and read all the articles you can find about them. There a few things you want to be looking for:

Who are the winners of previous editions? Why did they win?

What type of contesters made it to the finals? Does your startup fit in there?

#2 Research the jury

When you know a little bit more about the competition and its contesters, it’s time to research the jury. After all, they are the ones who decide on the winner. Figure out the following things:

  • What is their area of expertise?
  • What type of feedback did they give to contesters during previous editions?
  • Are they entrepreneurs themselves? Can you include one of the companies of a jury member as a potential customer in your pitch?

Try to get a grip on the type of persons who are in the jury. If they’re all tech experts, you can be sure that they’ll be asking about your tech infrastructure. Prepare for tough questions on their areas of expertise.

 

#3 Create slick pitch slides

The slides you need during a startup pitch competition are different than the slides you need for an investor meeting.

During an investor meeting you usually present your pitch deck, whereas during a startup pitch competition your slides should be less detail orientated.

Nice high definition pictures without any text on it are the key to a visual attractive startup pitch. Simply use one picture on full screen size per slide and you will be good to go.

Since a regular pitch consists of 6 building blocks, you should have 6 slides and therefore you will need 6 pictures.

There are numerous websites you can use to find beautiful royalty free stock photos to include in your pitch. A few examples:

  1. Unsplash (free) https://www.unsplash.com
  2. Pexels (free) https://www.pexels.com
  3. Shutterstock https://shutterstock.com

#4 Craft a slick pitch

Since most startup pitch competitions limit your pitch time to 2 or 3 minutes, you should keep it short.. You don’t have time to go over every detail. Therefore, it’s best to stick to the following 6 topics.

 

  1. The opening– A few words which catch the attention of the investor
  2. The problem– What is the problem your company is trying to solve?
  3. The solution– How do you solve this problem?
  4. The business model– How many potential customers are out there? And how many have you already captured?
  5. The team– What are is the skillset of your team? Do you have experience in this field?
  6. The call to action– What do you want from the investor? What does he get in return?

 

Use this startup pitch competition template to create the perfect pitch.

 

#5 Practice your pitch

When you completed al prior steps, it’s time for the most important part of your preparation: practicing your pitch.

Practice your pitch with these 9 steps:

  1. Read your text
    2. Cover your text and replicate it in your head
    3. Practice your text out loud. Use a voice recorder to see how you are doing
    4. Add your speaking legend. Practice your pitch with the right intonation, volume and silences
  2. Practice in front of a mirror
    6. Practice in front of the camera of your phone
    7. Watch the video to see where you can improve
    8. Watch the video without sound on to see where you can improve
    9. Show the video to a friend or colleague

 

If you want more help with practicing your pitch, check out the full article on pitch practicing.

 

#6 Master your body language

Your body language is one of the most important aspects of your startup competition pitch.

According to public speaking expert Paul Finkelstein about 55% of a presentation is non verbal, 33% is tone of voice and only 12% is content.

Your body language beats your content.

Is your startup ready to pitch?

#7 Finish it with mind-blowing answers during the Q&A

Most startup pitch competitions schedule a few minutes of questions and answers after your pitch. This is the moment where jury members have the opportunity to fire with difficult questions. Unfortunately, this is where most pitchers go wrong. 

When they get faced with tough questions they don’t know what to say and they start rambling. You can prevent this by preparing your Q&A by following these steps:

  1. Take a new text document and write down all possible questions you can think off
  2. Demonstrate your pitch to a few friends or colleagues and have them write down some questions as well.
  3. Take a new text document and write down a few topics which are really positive about your idea of company. Take your unique selling points.
  4. Write down why you unique selling points are so nice and how they can benefit the listener.
  5. For every question, use one or more focus points and blend them in.
  6. Study your Q&A and make sure you have a positive answer for everything

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36 Public Speaking Articles From 12 Of The Best Public Speakers

36 Public Speaking Articles From 12 Of The Best Public Speakers

What is the difference between pitching and public speaking?

Public speaking is an umbrella term for all sorts of talks, such as speeches, pitches and presentations. Therefore, pitching is always public speaking, but public speaking isn’t always pitching.

There are a lots of public speaking articles out there, which are really great. Although they aren’t focused on pitching solely, they can provide great value for you as a public speaker.

Did your startup get an investment already?

The best public speaking articles

Did your startup get an investment already?

Concluding thoughts on these public speaking articles

Bookmark this overview and read all of these blogs whenever you have time. They will definitely improve your public speaking skills. If you want to take your public speaking skills to the next level, make sure to subscribe to their newsletters.

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These 10 Types Of Investors Will Kill Your Startup

These 10 Types Of Investors Will Kill Your Startup

Which types of investors for startups should you avoid?

Here at PitchSkills we’ve been in more than 50 investor meetings. Some investors were good, others not so much.

Not all types of investors for startups are good

After a while we began to see a pattern in the investors your startup should avoid. Dealing with one of these investors will slow you down and cost you money in the long run.

Here are 10 types of investors for startups you should avoid.

#1 The coffee lover

This type of investor loves talking. He is usually a social guy and gets along with others easily. This is the type of person who likes discussing everything with everybody. Although he might seem nice, he won’t add anything to your company.

Don’t deal with this investor: He loves talking, but he won’t invest.

#2 The staller

The staller makes you wait. A lot. This is the type of person who doesn’t return your calls and waits 5 days with replying to your emails.

Don’t deal with this investor: He is afraid of commitment and won’t invest.

#3 The follower

This type of person does invest sometimes. However, he’ll never be the first one. The follower doesn’t have a lot of confidence in his own judgement and doesn’t dare to invest alone. When you’re able to get a few other (good) investors on board he’ll follow, but yeah, who wouldn’t?

Don’t deal with this investor: He’ll only invest when your company generates a lot of revenue and is a proven success. By that time, you’ll be able to get better investors on board.

Is your startup ready to pitch?

#4 The Omniscient

The omniscient is usually a successful entrepreneur himself. He built up his empire from the ground and experienced lots of success. Although it’s great to have his experience on board, he will be difficult to deal with. This mister know-it-all will give you advice on everything you didn’t ask for. When you disagree with him, he will become cocky and give you hard times.

Don’t deal with this investor: He will cause a lot of trouble.

 

#5 The entreprevestor

Similar to the omniscient, the entreprevestor has been a successful entrepreneur himself. However, this one is even more dangerous for your startup than the omniscient. The entreprevestor doesn’t only give you unwanted advice, he executes it as well. The entreprevestor doesn’t care that you’re the CEO, ‘his experience gives him the right to do everything’.

Don’t deal with this investor: He will make himself the new CEO.

#6 The quizmaster

Just like the waiter, the quizmaster does anything to stall the investment process. The quizmaster wants to know everything about your company. If there is one detail which he doesn’t like, he will back away from the investment.

Don’t deal with this investor: The quizmaster will keep on asking questions about minor details and will eventually find a reason not to invest.

#7 The greed

The greed wants it all. The good thing about this investor is that he does sometimes invest. The bad thing about the greed, is that he wants to have everything. It’s fine to negotiate about the valuation and the term sheet. However, the greed will negotiate about anything.

Don’t deal with this investor: The greed doesn’t care about you or the company, he simply wants to squeeze the most money out of his investment.

#8 The loaner

The loaner is a risk averse type of investor. The loaner generally doesn’t do equity investments but loan investments. Be careful with this investor, since they generally ask you to be personal liable for the loan you take. If you do this, this could mean years of personal debt if your startup goes under.

Don’t deal with this investor: He could get you into personal financial problems for a long time.

#9 The litigator

The litigator is an investor who is known to sue people or companies when they do something he doesn’t like. The litigator has an army of lawyers, ready to sue you when things go bad. This person doesn’t care about you or about your company, he wants to maximize his personal wellbeing. Since he knows you can’t afford expensive lawyers, he will make your life hell.

Don’t deal with this investor: He will get you into lot of troubles when things don’t go as expected.

#10 The broke investor

The broke investor is a person who claims to be an investor, but actually doesn’t have any money. This person loves to talk about investing, but eventually will never invest. This person thinks being an investor is cool and will do anything to convince you that he is an actual investor. Many broke investors try to make a deal which gives them shares in your company, in exchange for ‘valuable’ advice for your company.

Don’t deal with this investor: He talks the talk, but doesn’t walk the walk.

What do you think about these types of investors for startups? We would love to hear from you on social media.

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