We're here to help.
I know where you are. I’ve been there several times. Having pitched to over 100+ shark tanks full of angels, VCs, and private equity GP/LPs, I finally stopped and asked investors what I could be doing better. I had to - the process of raising was bleeding my startup dry. I applied what they told me and closed $1M in series seed financing; and then helped several others raise north of $15M.
I made this quick guide to help pass on some of the knowledge I learned through years of enterprise software selling, startups, and trial and error. All in hopes to help you get to market faster, raise investments, and avoid some of the common mistakes entrepreneurs - myself included - have made. Keep reading for a strategic guide in communicating your ideas effectively.
Prioritize design over chance.
-Peter Thiel
Design plays a major role in conveying your message, however, great design with lackluster content shows a lack of commitment. I am consistently sent first drafts of pitch decks with unnecessary slide headers. Just because a Google search told you it should have them doesn’t mean it’s right for your message. Don’t add irrelevant information just to fill an arbitrary quota. For market statistics, get focused; everyone already knows Facebook & Uber are huge.
Your audience determines their interest in less than 25 seconds.
Investors and decision makers are smart - smart enough to know they don’t know everything. Your idea may come after spending years thinking about it or working in a specific industry. It’s rare that someone else will understand your solution or value as intimately as you do, especially in such a short amount of time. A way to help bridge this knowledge swap is to explain your idea from a storyline perspective of a character, or link each slide together in some kind of connected narrative that encourages page turning and listening.
Where most entrepreneurs mess up
Decks with a story line increase reading completion by
Connections are made when the audience gets to ask questions.
-Eric Schaumburg
(yes I quoted myself)
The human brain can only do one thing at a time: listen to what you're saying, or try and read what is on the slide.
Presentation medium
Once we've determined the audience, we need to know how you plan on presenting. Will it be in person or via screen share, or will it be unattended? How far along in the due diligence process are you?
If presenting in person, we will want to reduce the text to simple keyword placeholders.
Know thy audience.
-Shakespeare
(probably)
The 4 audience personas
Securing investment should never be the end goal. Investment is like credit card debt, not a license to buy a bunch of t-shirts and stickers. If you can't save up or afford to contribute any amount of your own working capital, you can still get started. Wireframe a prototype, strategize on automating processes, get feedback, approach potential partners or clients and secure LOIs or signups. Proving the market need and demand for your idea is paramount.