Working at a startup sounds great. But it can get confusing, too, especially at the beginning. If you feel like at some times you don’t have a clue of what your colleagues are talking about; you’re not alone. From now on, don’t just nod friendly when terms like ‘unicorn’ or ‘disruptive technology’ come up. Every week we explain a common startup-expression in our Startup For Dummies. This week: Pitch Deck.
A deck or pitch deck is a digital presentation, a PowerPoint for example, that gives a concise but comprehensive view on your business. A deck should be digitally transferable and consists of around ten slides. It’s usually used by startups to present their business to investors. It’s therefor a tool that can help you raise money for your new product or service.
Which slides should definitely be there when making a good deck? According to Forbes’ article, about pitch decks raising money for startups, the following eleven basic slides should be in you deck.
slide 1 // vision – elevator pitch
Keep this short! A summary in one sentence for instance.
slide 2 // traction – validation
Which way are you thriving? What are your goals for the upcoming years?
slide 3 // market opportunity
In what market do you serve and to whom?
slide 4 // the problem
What problem do you solve with your product or service, and for whom? Make sure your investors recognize the problem!
slide 5 // product – service
How are you going to solve this problem? What is it you sell?
slide 6 // revenue model
How will you make money? What kind of model (read: freemium)?
slide 7 // marketing & growth strategy
How will you reach your customers? Who pays who?
slide 8 // team
Who are your team members? What do they add to the company? Who are your advisors?
slide 9 // financials
What are your financial assumptions and projections the next years? Make a forecast.
slide 10 // competition
What makes your company unique and different? And, why do other companies succeed?
slide 11 // investment ‘ask’
Who are your current investors and what are you asking for? What will you do with the raised money?
If you did a good job, your investors are keen to learn more about your business. Don’t tell them too much in advance and never use more copy than necessary. And yes, obviously you want your deck to look amazing. If you would like to get a little more inspiration for your own company’s deck you can check out the best startup pitch decks here.
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