What is Pitch Deck?
A “pitch deck” is a selling technique, with a planned sales presentation strategy of a product or service designed by an entrepreneur in order to raise funds from (“pitch”) investors.
They can be sent to investors as a stand-alone document (e.g., via email) or visual presentation or as an explainer video.
But, Pitch Deck Presentation in the form of explainer video will be the best way to convey your product and your ability to raise fund.
How Your Presentation Should Be Or Not?
A well presented pitch deck gives a positive first impression to the investors and Vc’s that you have the ability to execute your project well.
Being an entrepreneur you might be in touch with many investors and now is the time to convince them that your product will give solutions for some big problems and
It is going to change the world — or is at least worth investing in it. Since pitch deck is likely the first time, an investor will come to know about your product.
The pitch deck for a startup needs to be a summary of what they are doing in this project, and what they need to do to make it happen.
So the Pitch givers should be aware of avoiding some common mistakes in their presentation:
10 Common Mistakes in Pitch Presentation:
1. Using More Slides:
A pitch should have a number of 10 or less than 10 slides. Using more slides will worsen the presentation; this is one of the common mistakes that entrepreneurs make.
“Like many things in life, less is more in fundraising slides” -Fred Wilson.
Allow one slide for a cover slide which should have your name, your company logo and a single line explanation of your business.
2. Brief Content:
Avoid using too many words. Decks should have more visuals with charts, tables and pictures, or can use explainer video, so that each slide can convey its purpose in few seconds. Since Investors are not interested in reading memos and rows of bullet points.
3. Lack of storylines:
Everyone loves to hear stories, even the investors. So tell an exciting story about your startup and arrange your slides to reflect that story.
This may impress your investors in a better way.
4. Not Recognizing a Problem:
What’s the big problem? And how your product have the opportunity to give solution to that problem?
You must address this issue in your pitch deck. Only the investors get exicted if you identified a big problem in the market.
5. Not Giving Solution for a Problem:
This must give a crystal clear vision of how your product solves the problem, and an opportunity for you to show them its features.
Make sure your presentation make the audience relate your product with their problem,and the need of using your product, and how it will make their lives easier.
This may be a good time to introduce a demo or screen shot of your product.
6. No Proper Product Demo:
If you are presenting in person, you must give a demo of the product. Demo may be in the form of pictures or visuals or most likely an explainer videos.
Demos trump every form of presentation. Lack of demo will be a disappointment to the investors.
7.No Business Model:
Most of them are failling to explain how will you make money and where your revenue strength are.
The startups also need to show the size of their market and how much they have the potential to make.
8. Failing to show your Team Strength:
Give description about the strengths and skill set of your founder and tell how your skill sets complement others in team.
Because investors wish to see a range of technical and non technical skills between founders, and their team.,so that they can develop a product quickly and can make changes quickly.
9. Not Projecting about the Competitors:
Who is your competitor and how will you compete? How you are different from others? And what is better about your business?
They expect you to explain these things; lacking of this will spoil your pitch.
10. Lack of RoadMap:
Here is where you need to clear the investors, how long will this product take to build, how much will it cost and when will you start making money?
What are your targets and how long will you need to meet them?
Finally by using visual presentations or explainer videos in pitch deck, will help you to give your product demo and summarize your need to the investors in the effective way.
A well presented pitch deck creates positive first impression and the quality of your pitch can certainly be the difference between getting funded and getting left behind.