What is the real cost of a poor pitch deck?
Your pitch deck is an extremely pivotal asset that can either unlock an incredible future for your startup venture or cost you millions.
Getting the deck right is a big deal, and not just for successfully and efficiently raising capital at your next round. Its value should go well beyond that. So, how much do you stand to lose by failing to get the right help here? What are the most common mistakes entrepreneurs make when creating a pitch deck?
Don’t Just Ship It
There are many scenarios in which startups and entrepreneurs do need more hustle and forward motion. Most often they need to focus on just shipping it, before perfecting it.
Pitch decks are one of the rare exceptions to this when you really can’t afford to blow it. Do move fast, and get it out the door. Just make sure it is polished and effective first.
Blowing your pitching opportunities is something you may not come back from. You may have billions of customers to choose from, but there certainly are not so many well-fitting investors, cofounders, and advisors.
You may not get the details of your business plan right, you might be totally off on your first couple of products, and you may have marketing plans that fail. You can bounce back from that. Yet, if you totally mess up with your ideal investors, you might not get another chance. Avoid this potential disaster and the real cost of a poor pitch deck.
Considering how critical a good pitch deck is, you’ll need to be careful about the dos and don’t when creating a pitch deck. Check out this video where I have explained some of the key factors to keep in mind.
How Much Will A Poor Pitch Deck Cost You?
How much money are you trying to raise in this funding round? That is the minimum at stake. Whether it is $1M or $100M, it is an expensive opportunity to mess up on.
It isn’t just this round either. Because if you don’t close this round, you won’t get to the next or the next either. How much are companies in your space raising overall? $100M, several billion dollars?
How much would your business eventually be worth at an exit if you could raise the rounds of funding you need? Tens of billions maybe?
You could even go further and count all of the lost compounding gains on that capital after an exit.
Perhaps even more important is the impact your startup business could have, and what that would mean for your family, team members and customers, and the communities around them. That could really be priceless.
Don’t panic and overthink or over-engineer it and get stuck here. Do know what makes a good pitch deck, and the mistakes to avoid and get going. Understand the real cost of a poor pitch deck.
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