How to Master Your Pitch Deck
Are you looking for funding for your startup but not having any luck? As much as we might like to dismiss it, first impressions do matter. This means that the first impressions you make with potential investors can change the trajectory of the relationship.
The inability to secure funding isn’t because you have a bad business idea. In fact, it’s more likely that you aren’t presenting your information properly. Mastering your pitch deck promotes a strong first impression with potential investors and can lead to much needed funding.
What is a Pitch Deck?
A pitch deck is a presentation given to potential investors or customers that outlines the basics of your business, including your business plan, primary products and services, and growth potential. A pitch deck isn’t trying to sell your company or get investments right then and there. Instead, the goal of a pitch deck is to secure another meeting where you do talk about investment opportunities.
Securing funding takes various steps before you are able to see the money hit your bank account. Usually, the first step on that journey is a successful pitch deck. You want to provide investors with an intriguing idea or concept to start the conversation about investing.
What Components Does a Successful Pitch Deck Have?
As much as you want to tell investors every little detail about your business, that’s not the goal of a pitch deck. Intriguing investors means not boring them with the details of every step you have already taken. Strong pitch decks are less than 20 slides with 10 being an ideal number.
The first slide of your pitch deck will include an introduction. This is your first impression, so be sure you are fully prepared to introduce yourself. Tell investors why you are there and the reason for your company. Additionally, outline the value proposition of your company, such as the product you make or the service you offer.
Then, identify the problem you are looking to solve and include your target market. This slide should identify two or three problems that your product or service solves while the next slide offers the solution. The demand for your product and the market opportunity should be the next slide.
The fifth slide should outline key details about your product. Then, go into the traction including the sales you made and expect to make. Slide 7 will identify key members of your team while slide 8 outlines major competitors. Then, wrap up with slide 9 showing your current and projected financials, and slide 10 outlining how you will use the funds. Keeping the pitch deck short and concise is key to setting up another meeting.
IN SUMMARY:
This one-size-fits-all approach doesn’t work for all startups, making it important to work with an expert that can guide you on the path to success. From uncovering any additional information your business should include to helping you facilitate the initial meeting, Divocate Consulting is an asset to have on your side. Reach out today to set up a consultation to talk more about your pitch deck.
