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December 9, 2008
An entrepreneur, seeking funding, scored a meeting with a venture capitalist and brought along his chief technologist for the presentation. Upon introducing the CTO, this presenter mentioned that his CTO had a full-time job. The VC asked when the CTO planned to leave his job for the startup. Said the CTO, “I haven’t decided whether or not I’m going to join the company.”
That scenario stands out as the worst presentation that Ben Black has seen in nine years as a venture capitalist. “It was an absolute deal-killing moment,” said Black, general partner and cofounder of New Cycle Capital in San Francisco. A close second was the entrepreneur who shared all ten of his possible business strategies, and wondered aloud why 50 VCs had already passed on his idea.
Lack of preparation can kill a presentation. A budding CEO should know if his team is actually on board. A slip of the tongue—like telling a VC he’s number 51 on your list—isn’t necessarily fatal, but lack of focus is. Building a business presentation that will wow your audience just might get your company going.
Your presentation starts with knowing your audience as well as you can. Are you talking to a small team of partners at a venture capital firm? The crowds at a pitch slam such as Demo or TechCrunch? How about to a potential customer or strategic partner?
For small groups, especially those involving potential investors or customers, learn everything you can about the people you’re meeting, before you get there. For instance, know where they went to school, what they studied, where they’ve worked, what they’ve funded, and their outside interests. Tie this knowledge into your presentation, and tailor your pitch to keep them engaged.
Andy Goodman, director of The Goodman Center, an online school for communication and marketing skills, and author of Why Bad Presentations Happen to Good Causes, recommends knowing what the audience believes, so you can build on it. “Know what level of understanding they’ll bring to the subject so it’s not above their understanding and they lose interest, or not below it so you’re below where they are,” Goodman said.
The type of audience will frame your presentation. A general audience might need the background a potential investor or customer already has. “They’ll be skeptical, and you need to answer the questions they’ll have before you really get started,” Goodman explained. Customers or investors may want deeper information on your technology or your team. Prepare supporting data and anecdotes for the points you make. If you don’t know something, never make up an answer.
Knowing your venue is critical. Are people gathering around your laptop? In a conference room or auditorium with a projection screen? In a big room you won’t be able to make a face-to-face connection with much of your audience, and you may need to jazz up your PowerPoint with audio or video for the big screens at the expense of props, which may be hard to see or hear. In small rooms, engage in direct conversation with your audience, rather than forcing them to look at your PowerPoint.
Getting off to a good start is also key. “You have got to have a strong opening. In the first couple of minutes of your presentation, people are mercilessly judging you,” Goodman said.
He recommends presenters begin with a concise story that captures the essence of their presentation, a question with a surprise answer, a fact in context, or an emotion-laden picture, to engage the audience immediately. Goodman is wary about opening with a joke. “Humor is not a cure-all, and for some people it’s absolute death,” he warned.
Of course, a great opening is not enough, Goodman said. When presenting, give context that will drive home your pitch. For instance, how many people are affected by the problem you’re trying to solve?
And while PowerPoint presentations can seem mind-numbing in the business world, slides can work for you, particularly if accompanied by graphics or video that will intrigue your audience.
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