5 Pitch Deck Mistakes That Can Keep You From Getting Funded
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5 Pitch Deck Mistakes That Can Keep You From Getting Funded
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Pitch decks are important to securing funding for your startup. But how do you avoid the common mistakes that can keep you from getting funded? Here are 5 pitch deck mistakes to avoid when raising funds. ***Featured as Slideshare’s Top Presentation of the Day 08/21/2014*** ***Featured in: Investor Relations***
Transcript of 5 Pitch Deck Mistakes That Can Keep You From Getting Funded
5 Pitch Deck Mistakes
That Can Keep You FromGetting Funded
Pitch decks are important to securing funding for your startup.
But how do you avoid the common mistakes that can keep you from getting funded?
Here are 5 pitch deck mistakes to avoid when raising funds.
Not telling a good story
1
Telling a good story is a vital skill for every entrepreneur.
Good stories are persuasive and convey your vision with passion and enthusiasm.
Some examples
Compelling stories connect emotionally, capturing attention, and open investors up to wanting to learn more.
Use cases, are stories which help investors visualize how your customer benefits from your solution.
Adding too much info
2
Investors are busy people.
“The classic partner in a VC firm is exposed to 5,000 pitches, in a single year.” !
- Reid Hoffman, Greylock Partners
A ton of information is time consuming to read.
MESSAGE
1 minute read 1 second read
INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO MESSAGE INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO
It also hides your message.
INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO MESSAGE INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO INFO
MESSAGE
I’m confused? Got it!
“Less is more in fundraising slides. You can explain your business in mind numbing detail,
or you can inspire an investor.” !
- Fred Wilson, Union Square Ventures
Listing features, not benefits
3
Investors want to know what value you create for your customer.
Most customers only care about what’s in it for them.
So, show what’s in it for them.
Benefits:
So what? Shutup and take my money!
54-watt-hour lithium-polymer battery PCIe-based flash storage
802.11ac Wi-Fi
All day battery Starts up instantly
Blazing fast downloads
Features:
Example: Macbook Air
If you can't tie features to benefits for your customer, perhaps you have a solution in search of a problem.
!
Which leads to my next point…
Solving too many problems
4
Clearly articulate the problem you are solving, it’s key to setting up the rest of the pitch.
Make the problem obvious.
“A problem well stated, is a problem half solved.” !
- Charles Kettering, American Inventor
A painful problem which investors can relate to, leaves them wanting to know your solution.
“Pitch the problem first, connect with your audience emotionally around the problem, and then, and ONLY then, offer your solution as the remedy to that problem.”
!
- Dave McClure, 500 Startups
It’s tempting to list multiple problems, to prove you’ll be big.
Instead, start with a specific problem, and present your vision for tackling others later.
A “cool” solution in search of a problem is a red flag for investors.
Claiming there’s no competitors
5
“There is nothing new under the sun.” !
- Ecclesiastes 1:9
Generally, there will already be a competing solution to the problem, either directly or indirectly.
Claiming there’s zero competition shows a lack of research and depth of knowledge regarding your specific market.
If there’s no competitors pursuing a similar opportunity, perhaps they’re not impressed, and don’t feel it’s a valuable one.
There you have it!
5 Research your competitors
4 Focus on one problem
3 Convey benefits, not features
2 Don’t add too much info
1 Tell a good story
Summary
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Do you know any other mistakes entrepreneurs make, that keep them from getting funded?
!
!
Leave a comment below.
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Image Credits: Yuri Beletsky, Thephotographymuse, Jill Greenberg, TechCrunch, Joi Ito, Sam Hawley
Designed by: !
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Mike Viney
deck works.co [email protected]! @deckworksco
Read the extended blog post on Orrick Total Access
‘5 Pitch Deck Mistakes That Can Keep You From Getting Funded’
Investor Pitch Deck Template 8 Tips To Create Epic Presentations
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