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One of the ways to raise money for your business is by pitching to Venture Capitalists, Investors, or even Incubators and Accelerators.
Image Credit: Freepik
In order to raise money for your business; you need a compelling pitch deck that would get investors interested in your business and equip them with the information they need.
According to Piktochart, “Investors only spend an average of 3 minutes and 44 seconds perusing a pitch deck.”. And so, your pitch deck doesn’t necessarily have to be too long; but it must capture essential elements.
Even if you are not so good at writing, these tips will help you with your pitch deck.
Here are essential elements of a successful pitch deck:
Vision and Mission: You need to tell who you are, why you do what you do, how you intend to do it, and where you see your start-up in the future. Don’t make it too long; make it communicative, understandable, and straight to the point.
Value Proposition: What value do you bring to the market? What is that thing that isn’t present in the market that you are offering? Tell us the value of what you provide.
The Problem you are solving and the solution you are offering: Every business should be able to solve a problem. If you are not solving a problem, why should your audience bother? And so, you need to state the problems you are solving explicitly and the solutions you are offering. In order to make your audience understand the problems you are addressing, you can also tell a story that would resonate with them.
Target market and market opportunity: It is not enough to tell us who your target audience is, you also have to show us the opportunities available in the market. Also, your target market must be specific, and you must have an understanding of their likes and dislikes, needs, preferences, and wants.
Demo and screenshots: Here, you should include demos of your products or screenshots of your services. Doing this helps investors understand your products and services better and how they work
Business model: How do you intend to generate revenue for your business? Investors want to be sure your business can maximize profits. This is the area where you tell us how you intend to make your money. Tell us who the people that would pay for your products or services are and how.
Traction and validation: Do you have people who have tested your products and services or paid for them? How many current customers or users of your platform do you have? Have you been able to achieve success in the past? Investors are interested in all these.
Marketing and sales strategy: Here is an opportunity to tell us what your marketing and sales plan is. How do you intend to get your target audience attracted to your business? What platforms do you want to use? What is your marketing and sales budget?
Team: Who are the people on your side and what are the relevant experiences they have? Tell us who your team members are; their education, experiences, and expertise. Don’t forget to tell how they are relevant to the growth and sustainability of your start-up.
Financials: This is another important part of your pitch deck. Here is the place you show us your sales projection, profit and loss statements, sales forecast, and so on. Make it simple and explainable. Give us the necessary financial projections and key metrics.
Competition: Who are your competitors? What are they doing and how can you do better? What are the advantages you have over them? What stands your business out in your industry?
Use of Funds: After you have explained all of the above, here is your chance to now ask the investors for money and explain to them how you intend to use the money. Tell them how much you need and why.
Have you ever written a pitch deck? What are some of the tips you would give to someone writing a pitch deck? Do drop your comments below.
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