If you are a founder trying to raise money I can tell you the biggest problem with your pitch deck without even looking at the presentation.
As an investor, I see a lot of pitch decks from entrepreneurs trying to raise money. Of course, they encompass all phases, industries and ideas. The founders come from all age groups and with different backgrounds. They are all very different, but almost always have one thing in common:
They don’t really show what is unique about the company.
My advice is always the same the first time we watch the presentation. Simplify and focus. I also share the following advice:
1. Stop putting way too much information into your presentation.
You’re probably trying to make sure you have a slide to answer every question any investor could ever ask. The result is an information overload. The truly powerful soul of what makes you special is lost in the weeds of all data.
Remember that the purpose of a first investor meeting is to generate enough interest to get to the second meeting. The easiest way to do this is to have less information but make sure the information you have is really compelling. Shakespeare was right, brevity is the soul of wit.
2. Make it clear what makes you exceptional.
I know you probably have this slide showing you compared to your competitors, but it’s pretty vague. And having “lower costs” than the competition isn’t necessarily a good thing for me as an investor – it tells me that you may have a hard time gaining value in your space.
What makes you really unique? Don’t look at your deck when you answer this. Look at me and say out loud the only thing that makes you better than everyone else out there trying to solve a similar problem.
3. Make sure that every aspect of the presentation reinforces this uniqueness.
I want you to literally design every section of the presentation to reinforce the only thing that makes you unique. State the thing explicitly at the beginning and at the end. I know it feels a bit cheap and redundant, but trust me, you don’t want to subtly communicate what makes your business unique and special.
How does your product film reinforce your uniqueness? How does your marketing slide do the same? Your team slide? So often, each part of the presentation is focused on a specific niche rather than reinforcing the key message of the deck.
Now go over again.
Is there any claim you make or evidence you use that your competitors could reasonably say? If so, find out how to change these messages so that they only apply to you.
Simplify and focus. Simplify and focus. Rinse and repeat. Simplify this so there is less filler to dilute the gist of the message you want to get across. Focus in such a way that it is completely obvious to the listener what makes you compelling, interesting and unique.
The opinions expressed by Inc.com columnists here are their own, not those of Inc.com.
Comments are closed.