When starting a business, entrepreneurs have limited resources. They need funding to grow into a worthy name brand and venture into different industries. This is where investors come into the plan. Pitching to an investor is also a task that needs strategic planning. Experienced individuals recommend using a pitch deck.
Now, what is a pitch deck? In this article, you will be informed about the pitch deck, its importance, and how it can be used for the benefit of your business.
What is pitch deck for business?
A pitch deck is a well-strategized presentation that gives a detailed overview of your business. It is used to pitch your plan comprehensively and convince the investors that your idea has expansive potential and is worth putting money into.
A pitch deck, or rather a simpler version of the presentation, can be used to introduce the product to potential customers and expand sales.
What are the features of a pitch deck?
An outstanding pitch deck includes some key aspects explained in highly convincing yet not desperate language. These features are-
- Creates a feeling of FOMO
What to include in a pitch deck?
An outstanding pitch deck includes some key features explained in highly convincing yet not desperate language. These features are –
- Introduction to your business
An introduction to your business involves its overview before getting into the presentation. This includes a personalised Mission and Vision of your company, the introduction of your entire team with their respective departments with great pictures. This part of the presentation is crucial since these slides will be the first factors through which the investors will judge your start-up.
- The problem you intend to solve
Challenges faced by your startups and solves with a detailed explanation. The investors should be convinced that the problem is a big issue that needs to be taken under control.
The details include
- How big is the issue?
- Who is being affected by the issue?
- Why is it important, and why do you want to take care of it?
An example could be Forever 21. The issue with the brand was the lack of affordable, trendy clothes in the market, and their target audience were the middle-class people.
- The solution to the given problem through your idea
Here, you highlight the solution you provide through your product to the affected population or your target audience. This should contain how your company will approach and take care of the issue. It shall also include the basic features of your product, but the main introduction should be left for the next slide. Taking the example of Forever 21 again, their issue was a lack of affordable, trendy clothes. Their solution was to open a new clothing brand with fashionable goods that the middle and lower middle-class could afford.
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- The main product
The main product and its USP should be given the most effort as it is the show’s star. Connect it with the solution you provide as fluently as possible to convince the investors of its high potential. Some important points can be brought to approach the topic effectively –
- The USP of the product and how it’s interesting and efficient.
- Key features of the product
- Differentiated features of the product
- Additional Features of the product
- Market Opportunity
This slide should include your current status in the market and the future possibilities in the selected industry or further, depending on your brand. The slide should have appropriate statistics and should be present in an optimistic manner, even if the statistics are not in your favour.
- Your underlying technology
This slide includes the company’s major assets that are still in development. These are the technologies that will boost your business further in the future. This also includes your company’s basic backbone technology and intellectual property rights.
- Your goals and how you plan to achieve them
This part of your presentation is important as it reflects your dedication to your business and the vision you have for your product. It will show how much future planning you have done or, in other words, the company’s readiness to deal with future uncertainty. Hence, a list of goals should be presented in front of the investors with a brief explanation on –
- Why do you plan to achieve it?
- How do you plan to achieve it?
- Approximate time you’ll take to achieve them with the necessary funds.
- Why your start-up is worthy of investment
Now that you have presented your business model to your potential investors, this is where you passionately convince them that you are reliable and determined and will show results. Try to take points from the presentation to prove that you are worthy of their trust and money.
Why is the pitch deck important?
A well-crafted pitch deck can become a great asset for a new start-up. It is of high importance and recommended for the following reasons-
- Getting Investments
Pitch decks are a vital tool to introduce yourself to potential investors and get the necessary resources and funds to venture further into the market.
- Communicating about your start up
A pitch deck is a great way to make yourself known to potential investors and the industry. It attracts more interested investors and is also advantageous when approaching new partners.
- Brand Awareness
One of the first steps towards growth is the company’s awareness and popularity in the industries, among the investors, and in the target audience.
- Encouraging your team
The clarity of your pitch deck encourages the employees to work harder to achieve everything in the plan and meet the expectations of the employees and customers.
- Influencing Customers
As mentioned before, a simpler version of the pitch deck can be used to introduce your product to the target audience and gain potential loyal customers.
The Final Words
In conclusion, a pitch deck is a booster for your brand and future success. Although having a well-strategized pitch deck is important, you should also ensure you get the most suitable investor for your brand. Moreover, studies have shown that finding the investors only 0.91% of entrepreneurs succeed. Hence, smart start-ups should use InvestorBase.io to find suitable investors and even contacts with global companies like Accel, Softbank, and Tiger Global!