I love pitching, watching others pitch, and helping founders improve.
Public speaking can be daunting, especially when pitching to investors who could determine whether you scale your business or not. It's a high-stakes situation that can make even the most confident entrepreneurs nervous.
To help you excel in your pitches, I've compiled some thoughts, tips, and recommendations.
What are the most common pitching problems?
- Overemphasis on the product - While your current product is important, it's likely to change and evolve. What really matters is your solution to a clearly defined, real problem.
- Insufficient focus on the problem - Always start with the problem. Present it clearly and simply, supported by relevant statistics when possible.
- Confusing product with solution - A solution is an approach to solving a problem, whereas a product is one way of implementing that solution. For example, the iPhone 1 and iPhone 15 represent the same solution, just with improved products.
- Lack of validation - Many startups don't engage with enough customers or rely too heavily on feedback from people they already know.
- Poor market understanding - Do you truly know your market and all the players in it? Understanding where you fit within the competitive landscape can be advantageous.
- Overcomplexity - The best pitch decks focus on one problem, one solution, one product, and one revenue stream. Multiple elements in each category may indicate a lack of focus or clarity.
- Unclear ask - Be specific about how much funding you need, what you'll use it for, and at what valuation.
- Jargon overload - Avoid unnecessary complexity. Use simple words instead of fancy ones, minimise industry-specific terms, and cut out fluff that's meant to make your pitch sound more impressive.
How many slides should an ideal Seed deck have?
The answer is 12
DocSend provides monthly insights on founders' pitches to investors. They've identified the most effective slides for securing investment.
You can adjust the slide order (though I recommend keeping the first four as they are).
1. Holding Slide
When presenting your investment deck, you often won't get past the first slide! This holding slide should therefore feature something impressive that you can discuss and reference. Your Company Purpose, Mission Statement, or Vision should be the largest text on this page, positioned below your logo.
Don't forget to include your name, the deck version, and relevant legal terms in the footer.
2. Problem
Make the problem statement attention-grabbing. It should be easy to understand and ideally something people can resonate with. The problem should also help describe the customers experiencing it.
3. Solution
This slide presents your high-level approach to solving the problem.
It's not about detailing your product here (don’t even show it). Instead, focus on your overall solution strategy.
Your Solution is different to your Product!
4. Product
This is where you can showcase what your product actually looks like. However, keep it high-level.
Most investors simply want to know that it exists and functions. They don't expect—or want—a full product demo!
5. Team
One of the most crucial factors Seed investors consider is the founding team. The team's importance surpasses that of the product. This is because investors recognize that while products often evolve, the founding team—and even the core solution—typically remain constant.
6. Business Model
This slide should explain how your business will generate revenue.
Ideally, present a simple model that covers both current and potential future revenue streams.
7. Current Traction
Include simple and believable statistics on this slide. Avoid using fake metrics or insignificant awards.
If you're pre-revenue, be upfront about it and focus on other relevant information such as customer feedback and usage data.
If you lack substantial traction, it's better to omit this slide entirely.
8. Market Opportunity
How big is the market opportunity. Ideally you will be able to outline the Total Addressable Market (TAM), then the obtainable part of the market that you can realistically service (SOM).
Backing this slide up with industry stats and the key audiences you are going after will add credibility.
9. Competition
Who are your competitors and what makes you different?
This is the goldilocks zone, you need some competitors to help validate the market, but not too many to make to seem off-putting.
Don’t miss out anyone on purpose, investors will always spot it and ask the question.
10. Why Now?
This is the FOMO slide - Fear Of Missing Out. Can you create a slide which identifies why this is the perfect time to both build and invest in such a business.
You want to create that FOMO feeling that compels an investor to get involved.
11. Financials
Present credible numbers, focusing on projected revenues and P&L. Include historical trading data if you've been operating for a while.
Highlight how you'll allocate the investment across marketing, technology, and personnel.
For more mature startups, consider splitting this information into two separate slides.
12. The Ask
Be clear and concise. State how much money you're raising and mention any applicable tax incentives (e.g., S/EIS). Provide a high-level overview of how you'll use the investment and conclude with a brief summary. While you don't need to disclose the actual valuation, it's helpful to share the percentage of equity you're offering for the investment.
Thank You
Conclude with a simple slide featuring your contact details.
Consider adding a brief customer testimonial or a concise, positive statement to this final slide.
Appendix
Don't overdo the appendix. Keep it meaningful and relevant.
When sharing via platforms like DocSend, check if people are viewing these slides.
If your appendix slides are getting more views or time spent on them, consider moving them into the main deck.
This approach allows you to optimize your investment deck as you progress through the funding round.
Other Tips
- Less text - Don't write too much. An ideal deck is meant to be presented!
- Make it look good! Seriously, spend time making it visually appealing. If you can't do it yourself, find someone who can. Alternatively, use a tool like Beautiful.ai.
- Don't send - If asked, politely decline to send the deck and request a meeting instead.
- Push to present - Even if it's just for 15 minutes, presenting in person or via Zoom will allow you to convey more information and gauge the investor's reaction.
- Don't send - Seriously, try to avoid it! Seed investment is all about believing in the founder, not their deck, so you need to speak directly to investors.
- Don't send PDF - If you must send something, avoid attachments like PDFs. You lose control, gain no insight, and your deck may end up in a competitor's hands. Instead, consider these two options:
- Record yourself - Tools like Loom and Descript allow you to record your presentation. The investor sees both the deck and a small window with you presenting.
- Use a cloud presentation - Tools like DocSend let you upload your presentation online and provide investors with a link to access. You can password-protect the link and gain insights on viewing time, duration, and which slides receive the most attention.