Tips on How to Create a Compelling Pitch Deck for Startups
Thinking of great ideas for startups comes easy to some. You probably are thinking of an idea or two on businesses to start during this lockdown. With the stay-at-home order, you sure can concentrate on building your empire. Everything may be falling into place but it’s only the beginning. The hard part: seeking funds for the startup.
Meeting up with investors is one thing. Making them invest in your startup business is another and this is a challenge. However, it doesn’t mean it can’t be done. Start with one compelling pitch deck!
What is a pitch deck?
A pitch deck is a presentation where startup founders use to convince potential investors about its business idea. Remember, your pitch deck should be compelling. The goal is to get the investors on board. It seals the deal if done properly.
But what if you are not looking for investors just yet? Do you still need to create a pitch deck? The answer is a big yes! A pitch deck is not just for the investors. You could also benefit from it – it clarifies your strategy. It lays out a complete picture of what it needs, where you’re going, details on how to make your business stand out, and how you are able to achieve it.
The pitch deck is also a good tool to convince potential buyers – whether consumers or enterprises – that your product or service is the one that they must choose. There’s a likelihood that key slides in your pitch deck will be a part of your sales pitch in the future.
To some, it may sound difficult but it shouldn’t be. PowerPoint is one helpful software for your pitch deck. And in this article, we have compiled tips on how you can create a compelling pitch deck for your startup business.
1. Provide a business overview
Start from conveying the bigger picture – your business overview. This slide should contain a brief story of your startup business. Also, it provides the storyline of your presentation. This slide should tell your audience the following:
The industry you’re targeting
Your target market
The problem you want to solve
Upon reading on to this slide, your viewers should already get the general idea of your business.
(Sample slide for business overview)
2. What’s the problem?
The problem that you listed in your business overview slide should be discussed here in detail. Describe why there is a need for your business to exist. What is the problem in the market that you want to solve?
It will be a bonus if you can identify a problem in the marketplace that your audience didn’t even know existed. This will give them the impression that you did your homework.
3. Tell a story
Now that problems are established, tell your audience a story. Provide a picture of someone facing the problem in real life. You can tell a story of a real customer experiencing the problems and challenges. It just proves why the marketplace needs your startup business. Your story should be plausible and relatable. It allows your audience to understand how your business works and how it will affect consumers/enterprises in the real world.
Avoid talking about your business potential. And whether you have the greatest product/service there is to offer. Rather, talk about how your business impacts your community and target market. It would also help if you know something about your audience. This way, you can tailor-fit your story that would really be relatable to them.
4. Solutions to the problems
Nothing is more compelling in a deck that has all the answers to the problem. This is the part where your startup business swoops in and saves the day. Enumerate the solutions to the problems you have identified.
This is about showcasing to your audience your product and service’s best qualities. Consider the points below:
Describe what your product/service is
Tell your audience how your product/service fits perfectly in the marketplace
Tell them the strategies on how it can quickly and effectively address the problems
Show proof of concept – a prototype of the product or a flow chart for your service
5. The market opportunity
Identifying the market size is very important. It tells you, your investors, and partners how much potential your startup business has. It helps you calculate the value of your business. That’s why it’s important that you identify the size of the market you are about to enter.
Is your business available only locally? Or are there plans on crossing borders? If so, identify the opportunities outside your hometown. Ideally, this should convince the audience that there is indeed a huge market opportunity.
6. The market competition
Identify how many similar businesses are out there – your competition. Unfortunately, there may already be many similar businesses in the market. This is the time that you show your business’s advantage over them through a competitive matrix format.
List down your business and your competitors on the left side. Meanwhile, on the opposite top are the features.
This table will show what your competitors lack in some major features and highlights your advantage over them!
7. Don’t limit the pitch deck to one audience
As mentioned, the startup pitch deck is not only limited to investors. It is also useful to your partners and would-be consumers. Of course, a one-size-fits-all deck is so much easier. However, this approach just doesn’t work.
Consider your audience and tailor-fit the deck to them. If your audience is your business partners, show them a deck that concentrates on how the operations run. Layout the marketing and sales strategies you have planned for your business. Show your partners how you can find leads and attract customers.
When it comes to investors, they will be more concerned with how they are getting a return on investment if they plan to. Also, investors are very keen to know how fast they can get ROI.
But if you are sharing the deck to your would-be consumers, then highlight how amazing a product or service you have. Explain how it differs from what’s already out there and how they can benefit from it.
8. Customize pitch deck
Pitch decks can make or break your business opportunities. Create an amazing pitch deck. The good thing about PowerPoint is that presentations are customizable. This means you can design each slide, add appropriate effects, and animations to highlight the key points!
But remember not to go overboard with the designs. The main focus is the points you are presenting. Use the tools in the menu bar to add text, shapes, transitions, animations and more.
(Tools to customize your slides)
We highly recommend templates to unify the slide designs and color schemes. There are tons of free PowerPoint templates that you can use for your startup pitch deck. Your aim is to create a compelling pitch deck and it should look the part. It should give your audience the impression that you are serious about what you’re doing.
Climb the ladder to success
Before climbing your way up to the top, you should start from the bottom. If starting a business is what you are sure of doing, hold on to that passion. Take little steps and start with a compelling pitch deck to show to your partners, investors, and customers. Let the tips above guide you to the path of success!