Are you wondering what you don‘t want to include too much text in a pitch deck?
You want to convey all the great stuff about your startup when pitching angel investors, but too much text in your pitch deck can kill your chances of getting funded.
This might sound like a small detail. Yet, it continues to be one of the most common mistakes that entrepreneurs make. It is a huge pet peeve of professional investors and VCs.
Here’s why you may not be getting funded, and how less text might get you more money, on better terms.
The Importance Of Text In Your Deck
The words in your pitch deck are incredibly important. Each character is hyper valuable.
Consider that if you average 55 words per slide in a 10 slide deck, and are even just raising $1M in seed funding, each word is worth over $1,818. If you are raising a $10M Series A, each word can make or lose you over $18,000. In a $55M raise, each word is worth $100k.
Clearly, it’s important to make every word count. Yet, packing in more words isn’t going to help you raise more. Often the opposite is true.
Here’s why you don’t want to include too much text in a pitch deck.
It is true that it can be harder to boil down your ideas and thoughts into fewer words. Yet, that’s why it is those who do stand out.
People need it simple. Especially when you are talking about brand new concepts in new industries. Being too complex and technical doesn’t just cripple chances of getting funded, it can burn opportunities to bring on great talent and partners, and will cost you a lot of sales.
They don’t necessarily need to know how it works yet, just what it does for them.
If you thought customers had short attention spans today, just wait until you start presenting to investors. You will see on the video below, where I cover how to create a pitch deck, how investors only spend on average 2 minutes and 41 seconds per presentation.
It’s hard enough to nail investors down long enough to give looking at your pitch deck a chance. Even with the best pitch deck ever you can have less than a 1% chance of getting funded. They get so many pitches every day.
As soon as you start losing their attention or they get interrupted you can be done. Keep it short and sweet and swift to get through.
Some veteran VCs suggest that no text in your deck should be in less than a 30 point font. That means your titles and highlights are going to have to be even bigger. You’re going to have a lot less room for words than you think.
Tip: Make sure you start filling in your pitch deck template in larger fonts so you have enough room. Otherwise you are going to waste time and have a frustrating time continuing to trim it down once you start working in the right fonts. Or you’ll be tempted to add slides, and that can double the damage.
Leave Room For Images & Prototypes
While words are necessary, they say an image can be worth 1,000 words. You are limited on space, so use images in place of text. That includes charts, graphs, and diagrams. Sites like Shutterstock can be helpful with this.
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