All promising startups and entrepreneurs need a pitch deck. If you do not know what a pitch deck is, head over to this article of ours to learn more about it. New startups that have recently entered the market require funds to develop their products. With many companies on the hunt for the limited funds, you need to devise one to convince the financiers that your product or service is the next Facebook or Google. Also, you need to show how you are going to use their money to significantly grow your product and company. Financiers need returns, so your product must generate some sort of income.
If you are a new startup and clueless about a pitch deck, you came to the right place
Do not fret for not much has been lost. If you have a profitable idea, you can still secure funds to hone your product. However, you may not be able to do so without a good pitch deck. So, the first step is to create a pitch deck. You know what a pitch deck is and the purpose of it, but what should you include in it?
What do financiers look for in a pitch deck?
We need to understand the two things that investors evaluate when they review your pitch deck. To make things clear for you, consider this: you go to a supermarket to buy a certain type of product. Which product will you buy? You would certainly buy the product that gives you the best return for your money spent on it. Similarly, investors fund startups that provide them with the best returns with least risk involved. Your job is to convince the investors that your product has the capability to generate high profits, and it is market competitive. This is where your pitch deck comes in. You need to include statistics and studies of the market in your pitch deck to convince them that your product will help them to earn money. The idea is to include these details in a manner that the investors become adamant on investing in your product.
What to add in your Pitch Deck?
A pitch deck is a synopsis of your product, so you should include all the necessary details in your presentation without making it extremely lengthy. Remember, they are supposed to be smaller than your usual presentations. It should only include the important details. Also, you should have two pitch decks prepared. One pitch deck should be the one that you actually send out to different financiers. You will only be invited to meet with the investors if they like your initial idea and presentation. This version of your pitch deck should be more comprehensive as the investors will be reading it. The other version is the one you will play when you are presenting in front of the investors. This one will only contain the essential aspects in bullet forms and will be more infographic-centric.
You should refer to this link if you are looking for a pitch deck sample. While there are no set number of slides for a pitch deck, it is better if your slides are compact and informative. Here is the outline:
- Cover: Capture your audience by telling one thing that sets you apart from your competition.
- Summary: Include a synopsis of your product and the opportunity that comes with it.
- Problem: Mention the problem that your product will solve. Tell about the market that is facing this problem. Also, mention how you will provide a better solution to this problem than your competitors.
- Solution: Tell how your product solves the problem.
- Product: Introduce your product and inform how it works.
- Business model: Include the business model you employ and how it generates revenue.
- Market opportunity: If the product dominates its target market, how much revenue can be generated?
- Competition: Talk about companies you are pitting your product against and talk about how your product has an edge over their products.
- Growth: How will the product attract and keep customers? How will it stay competitive?
- Traction: Show statistics or sales that prove that customers like your product.
- Financials: Include estimates of your revenue in the next 5 years.
- Team: Talk about your team and how it has the expertise to make your product profitable.
- Funding: Provide details of how much money is required and how will it be put to use.
- Another summary: To wrap up all the things that were talked about in the previous slides.