Are you wondering what are the mistakes to avoid when creating your pitch deck?
Your pitch deck can make all the difference in getting your startup funded and giving it the fuel it needs to become what it could be. As with many things in life and business, knowing what to do is only half of the puzzle. Knowing what not to do is just as important. Sometimes even more so.
For a winning deck, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.
So, what are some of the most deadly and most common mistakes that entrepreneurs make when it comes to creating a pitch deck?
Not Articulating The Problem You Are Solving Clearly
The best startups are those who are most intently focused and in tune with the problem they are solving. It needs to be a real, pressing, and ‘hair on fire’ problem and pain point that customers will actually take action on, and pay real money for.
Many startup entrepreneurs make the mistake of getting lost in all of the features and side or subproblems their product or service can solve. Not only does this confuse potential investors, but it will make them concerned that you simply can’t focus and make real progress.
Hone in on one problem and clearly explain what you are solving.
It may help if you provide a personal story or analogy in your verbal pitch that your audience can relate to.
Not Keeping Your Solution Simple
Just as with the problem, keep your solution simple and focused too. This is one of the critical aspects when figuring out the mistakes to avoid when creating your pitch deck.
In reality, your solution may solve a variety of things, and have many features and benefits. Don’t lose investor focus, attention, and flow by distracting them. Or lose credibility by appearing distracted.
Your solution may be eco-friendly, including AI, and be cheaper, but what is the one main thing it does? What one thing can you excel at and be better at than all of your past, current, and future competitors?
Using Too Many Slides
This is one of the most important mistakes to avoid when creating your pitch deck. It can actually be far more serious and detrimental than most startup founders realize. If they really knew how pivotal and impactful it was, they would start building far shorter pitch decks from the beginning.
This has certainly cost many startups their chance of getting funded. Even those who have saved themselves by coming back and finding more investors with shorter decks will have wasted months of their time, the best opportunities, and plenty of precious cash.
Shorter is better.
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