There is no doubt a tremendous load of pressure to impress the people with whom you have secured a meeting to discuss investing in your business. You have worked diligently to create a product or service, and you wish to take your company to the next level. That said, your pitch deck is an integral part of the puzzle and must be top-notch in the following ways.
Resist Saying Too Much
It is often tempting to throw everything and the kitchen sink at your audience, as you hope to pique their interest. A compelling pitch deck, however, assumes that some things will go unsaid, at least in the beginning. This is in part because this initial discussion is intended to be a starting point for which you can fill in the details later. Put simply, the opportunity to pitch should be regarded as the beginning of a relationship, therefore you do not need to rush things or divulge every piece of available data.
Craft your slides in such a way that the information is not overwhelming to those in attendance. Aim to whet their appetites but not to deluge them with pertinent but tedious information that can be held over for later.
Aim For Understandability
It can generally be assumed that those you are speaking to will not be terribly familiar with the ins and outs of your industry. For this reason, you will need to break down key concepts, so they can be grasped quickly. Avoid tangents and stick with the basics.
In addition, it will be necessary to avoid jargon with which your audience will be unaccustomed. You want to create allies, and this is done by not speaking above people’s level of comprehension. Work to establish common ground on topics with which others can easily relate.
Articulate The Need
Your potential backers need to know that there is a market waiting and ready to purchase what you produce. To fully demonstrate this, you must acquaint them with the felt needs of the demographic you wish to reach. An avatar is an ideal customer who will buy your product, and you will want to know him or her well.
Describe their struggles in an accessible way, and show how you are able to meet their pain points with a viable solution. It will be necessary to pinpoint your ideal customer and to calculate the size of the demographic. Your bottom line is directly affected by your ability to solve a real problem, and investors will listen closely to see how well you have identified your core target.
Sum Up Your Business Plan
The meat and potatoes of any vision cast by a firm will be outlined in the form of a business plan. This document a comprehensive in its scope and will not be included in its entirety in your pitch deck. It is vital, however, to have prepared this, so you can supply your potential investors with it should they ask.
Invest resources to creating your business plan even if it takes time to do so, as it will enable you to respond easily to questions that are raised during your conversation. It also speaks well to your level of dedication and seriousness as a corporation when it is known that you have taken the time to do your due diligence in compiling the necessary research.
Fidelman & Co. specializes in management consulting, presentation advisory, and financial modeling. We focus on building businesses alongside entrepreneurs and investors. Contact us today for more information about what we can do for you.