The pitch deck is your way of selling your idea!
When starting a new business, it’s essential to get people to know about us and especially to persuade investors to invest in our idea. To do this effectively, we must become confident public speakers and master the art of storytelling. After all, it's the best way to capture attention and encourage action toward our startup. But how can we accomplish that?
Through a pitch deck, of course.
It’s the best playground to experiment with your storytelling and public speaking abilities. Designing a pitch deck exceeds what novice founders assume. In fact, it is one of the first steps we, as founders, should take when developing our startup. Actually, that’s how the most successful business nowadays started.
Pitching your startup to investors is essential to getting the funds you need to get your project off the ground. A pitch deck is a perfect way to make a good impression and to clearly communicate your idea. It’s also a great opportunity to practice your storytelling and presentation skills, which are essential for any entrepreneur. Ultimately, it’s a tool that can be the difference between your startup succeeding or failing.
A pitch deck is a visual presentation of what your startup does, what your strengths are, what goals you aim to achieve, what problems the market experiences, and how you plan to solve them. Essentially, it should articulate what you do better than your competitors and showcase why you are worth investing in and paying attention to.
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So if you’re asking yourself if you need one – yes, you do! It’s your must-needed tool when you’re seeking funding from investors and other sources of capital!
But a pitch deck is more than just a business plan. Actually, this could potentially be considered your “business card”. You should not just present facts about your company – customers or mission statement.
On the contrary! You shouldn’t take out of investors’ precious time to bore them with this. Instead, you should present the essential information without overwhelming it with other unnecessary details. You need to create a compelling case illustrating that your company is a worthwhile investment. By focusing on the key elements of the startup, such as the unique features of the product, and the potential for return on investment, you can create an effective argument that will be persuasive to potential investors. This "business card" should be succinct, yet powerful enough to demonstrate why our company is the best choice for investment.
Remember! If you don’t create a (compelling) pitch deck, investors will most likely forget everything they heard within minutes after leaving the room!
Even more so, a well-designed pitch deck will also help you to organize your ideas into one cohesive unit. This way, it gives structure and meaning so that each slide logically supports the next one rather than just random facts thrown together on screen without any reason.
Rather than just a simple presentation, with a pitch deck, we can focus on details that, otherwise, we might not have. But that’s exactly what investors want to see! However, it is essential to not get too bogged down in the details and to remember the purpose of the pitch deck, which is to give a broad overview of the company and the opportunity. Too much detail can overwhelm investors and lose their attention. On average, investors spend 3 minutes and 44 seconds on each pitch deck, according to TechCrunch. So, you see why it’s essential to not go too deep into some details.
It is recommended that pitch decks be concise, with a single slide explaining each topic, and that 10 slides are a good number to aim for.
Well, investors will be looking for more than simply hearing a couple of young entrepreneurs with just a concept in mind. Rather, they will want to see that you know what you’re talking about and that you’ve done your homework – both regarding your business and the market, in order to obtain the funding. To develop a pitch deck, you need to answer all possible questions that investors might ask. And don't forget to bring your imagination, because the investors might ask questions that you didn't even think of!
Without a pitch deck, investors will only see your idea. And unfortunately, this will not be enough for them to invest and for you to get your funding.
Pitch decks are helpful for more than just fundraising. They’re an excellent method to test the idea and the market demand. You can even get feedback on your ideas and business models. Inevitably, researching more about the industry will allow us to comprehend better how we will position ourselves. This can be incredibly beneficial to test pricing points and segment the market we’re penetrating. A pitch deck can also give you a better idea of the competition, who your potential customers are, and what kind of resources you will need to succeed. Additionally, it can help you think through the sales process, customer service needs, and any other operational issues that will arise. It's essential to also consider how you will measure your progress and set realistic goals.
With this in mind, it's important to set clear objectives when constructing a pitch deck, as it could be the difference between getting the investment you need or missing out. Furthermore, having a high-quality deck is an excellent way to get your idea in front of the right people, regardless of the outcome.
But remember - sometimes all you have to do is get your audience a reason to believe you can achieve what you say!
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