Pitch decks are probably the first thing that should be created by a startup or an entrepreneur when a product is in its earlier stages.
At early stages of development, startups require funds to develop their products. If money is hard to get by, you can always bring investors on board to help kick start your product. Investors like to fund products that solve crucial problems in our society.
Furthermore, they want to invest in a product that has a growing market. Your job as a startup is to convince the financiers that your product has what it takes to be the next big thing.
To convince the investors, you need to have great pitch decks that cover all important aspects of your business idea.
Great pitch decks are comprehensive and have all the bells and whistles to attract investors. Remember, only captivating pitch decks can help you secure the funds you need.
What really makes the difference?
All startups have their pitch decks, but only a few get selected for funding. Products that get approved for funding have one thing in common: their pitch decks clearly explain the product and what it does.
It is easy to find “good” pitch decks, but remember that “good” pitch decks do not get you the funding.
They have to be great to catch the eye of your audience. Great pitch decks not only explain the product, but it also focus on the audience. It includes things that an investor wants to hear.
We will learn what those things shortly.
What to avoid when creating pitch decks?
A rookie mistake that a lot of startups make is that they do not know what to include and what to remove in their pitch decks.
Including too much jargon in your presentation is not a good idea if it is something not relatively important.
If an investor can understand your product without the jargon, take that route. Your approach should be to get on the level of your audience.
The audience starts to lose interest when they are being provided with details that do not make sense to them.
Use the hero’s journey to your advantage
Hero’s journey is a term that was created by author and professor, Joseph Campbell. This term appeared in the book named The Hero with a Thousand Faces.
The idea is to use a “meta story” to sell your business idea. We are used to hearing stories about how heroes face despair only to emerge victorious in the end. This “meta story” is well-versed with many people in our society.
If you can make a story around this theme, you can accomplish a few things. Stories are easier to remember than statistics. Your audience will have a story about how your product solves the problems at hand.
This also shows the benefits of your product. Lastly, the story makes it easier for the audience to process the information.
So, a story can make your pitch decks great!
Polish your pitch decks to get the desired result
After you are done creating your pitch deck, now is the time to refine it and make it better.
Edit your slides to be concise
A slide crammed with a lot of text is not a good tactic to get the attention of the investors. It is no good if the audience is reading the slides when they should be listening to you.
So, the idea is to only include points in your slide that anchor the details you give verbally.
dit and remove anything that deviates from the main idea. Make your slides concise and effective.
Your words should be consistent
The audience will jumble up the details if you use different words to talk about the same idea. So, it is important to choose your words smartly. When presenting your pitch decks, use a set of phrases or words that you have selected beforehand and stick to them.
Design is key
Visuals and graphics that give crucial details are a good addition in your slide.
Too much text makes the slides boring and bland. Also, the design of your pitch deck should reflect the image of your company and product.
Pitch deck design plays an integral role in capturing the attention of your audience. Head over to this article to learn more about pitch deck designs.
Consider an outsider’s perspective in your pitch decks
Lastly, it helps to ask for an outsider’s perspective. Sometimes, you may not be able to see past your mistake.
A third party will be able to pick out those mistakes and will help you to refine your pitch decks.