After you’ve transformed your great idea into a startup and started working to make it viable, the next important step is to seek funding.
- How do you go about getting funding?
- With a fantastic Startup Pitch Deck!
A pitch deck is a collection of slides that startup founders generally use in presentations to impress prospective investors about the viability of their new company concept. It is critical that your pitch deck be compelling and convincing.
However, your pitch deck does not have to be complicated, and there are several advantages to undertaking this work when you are just getting started.
To assist you in creating a pitch deck for a business in the proper manner, we have created this easy guide that lays out the process of effortlessly developing your startup pitch deck.
What is the Need for Pitch Deck for a Startup?
You could be scanning this and thinking whether a pitch deck is really necessary for a company. What if you aren’t seeking investment right now? Is a startup pitch deck still required?
Yes, the answer is YES! A startup pitch deck is useful for more than just investors. There are several reasons to devote some time to the process – and the thought that goes into developing a pitch deck for a company – in a manner that communicates your narrative.
- Gives Clarity
Thinking about your business from the outside in allows you to see weaknesses and possibilities in your strategy. It also assists you in addressing areas that you may not have previously concentrated on. We all have blind spots that we prefer to focus on.
The discipline of creating a pitch deck encourages you to consider all critical aspects, such as finances, sales, human resources, procedures, product development, and so on.
- Attracts Co-Founders or Partners
You might have a fantastic concept but are you going to carry it through on your own? If you want to persuade a professional to help you in growing your business, you must go all out. Quality individuals generally have a lot of alternatives, so whatever you can do to impress them is worthwhile!
Even if you already have partners or co-founders, creating a pitch deck can ensure that everyone is on the same page. Furthermore, it is likely to make your goal more distinct and assist you in remaining motivated – something you may need through tough circumstances.
- Persuade Potential Investors
A pitch deck’s initial goal is to show to investors and persuade them to invest in your firm. It is generally the first thing that investors notice about your company.
You may not want or desire cash right now, but when you do, you will most likely be under time constraints. It’s preferable to do the homework now and prepare your pitch deck.
What are the Main Components That You Must Include in Your Startup Pitch Deck?
There are several viewpoints on what should and should not be included in your business pitch deck. We advise new entrepreneurs to stick to the conventional structure that investors like. Let’s go into the specifics. Here’s what your startup pitch deck should contain.
- Company Overview
This should be a condensed version of your startup narrative that informs the audience about the industry you’re in, the client you’re targeting, and the issue you’re attempting to solve.
- Mission and Vision of the Company
This is where you should excite your audience about the significant issue that your business will address. Show and explain them how you want to expand your firm and how it will appear in five or 10 years.
The company’s vision could also be looked of as your elevator pitch. It should be interesting yet brief enough to produce a memorable soundbite that your audience will remember long after your presentation is over.
- Problem That You are Targeting
Describe why your startup is necessary. Draw an image of someone in your target market who is suffering the issue that your business will solve. Give it enough color and depth to make it appear meaningful and relevant.
Explain how your startup will rescue the day now that the scene of the issue has been established. Consider yourself a film director: what occurs from the point of view of your concerned customer? How does your solution affect their situation? What impact have you had? Make it relevant to your audience once again.
- Market Opportunity
This is where you specify the market’s size. How many individuals or companies are affected by this issue, which is not presently being handled satisfactorily? Is your startup restricted to your state or nation, or are there prospects elsewhere?
Of course, the goal here is to persuade your audience that the market potential is enormous.
- Product or Service That You Are Offering
What precisely do you intend to sell? Describe how it will seem when it is delivered to your consumers. How will they interact with your product? What features and advantages will the product offer that will make your consumers’ life easier?
You should normally add some pictures in this area to illustrate how your product will appear and to give your consumers a sense of how the features will operate.
- Market Competition
Of course, you aren’t working in a vacuum, so you must also display a thorough awareness of your competition. Describe the competitive landscape: is it fragmented or controlled by a few significant players?
List your major competitors and provide a summary of their strengths and flaws. Then explain why there are still prospects for your business in the market.
- Business Model
The business model part is not as difficult as it seems; it just discusses how the company will earn money. Will you, for example, have a freemium offer for some people and then charge in tiers for larger users?
Perhaps you charge consultation fees or put clients on a retainer for a certain amount of work.
Wrapping It Up
A good startup pitch deck is worth the time and work it takes to create. When you’re finished, you’ll see that the slides can be used in a variety of settings. Begin creating your pitch deck right away, enlisting the help of your colleagues, and making it a collaborative effort.