Lolo Siderman is the Founder & CEO of Gypsywing Media (www.gypsywing.com). In this video she discusses how to create the perfect pitch deck
- 28 pt. font, 2-4 bullets per page
- Consider your audience
- Don't get stuck on the solution slide
- The management team and board
- Competition and competitive advantage
Many of my clients are entrepreneurs and sometimes they’re seeking funding from venture capitalists or investors. So it’s important that they create that pitch deck. You only have the one impression to make with them, and so you want to make sure it’s absolutely on point.
Now, the first thing that you should do is set it up at 28 point font. Don’t go smaller and keep it 3 to 4 bullets per page. You don’t want the investors, or whoever it is you’re presenting to, to get lost in the content and start reading way and just zone you out. They need to be focused on you. So keep those slides concise is important.
All right, next, consider your audience. A lot of startups these days are tech related. But your audience might be a 60 year old capitalist. So assuming that they have the same understanding of the technology that you’re dealing with is a big mistake. Now, don’t talk down to them whatever you do, but be open and know that you’re not talking to someone who’s got the industry savvy that you have.
And third, don’t get stuck on the “solution” slide. This is a common, common mistake that people make. And it’s because that we’re so excited about our idea and we know what difference it’s going to make in the industry and you just – you could go on and on. This is your baby, what you’re creating and you love it, but sticking on the solution slide and talking minute after minute is a problem.
Now, the order of what you should present in your PowerPoint is, number one, your elevator pitch. So 30 seconds, just telling what you’re doing, how it works. Number two is the problem, what’s going on in this industry and why do you need to do this, explaining the pain that your customer is having. Third is the solution, and this is the dangerous slide where you will want to get stuck. So to make sure that you don’t, practice this over and over. Practice it in the car, practice it at home, practice it in front of the mirror and be concise and on point and then move on.
Number four is your addressable market. So make sure you have numbers here. Who are you going to be selling to, is there a quantity or a realistic market that you can address here? So this is where you show some facts to back up who you’re selling to.
Number five is the revenue model. You need to show how this is going to make money and showing margins, showing what you’re going to charge here, showing the dollars and cents.
Next is the management team and board. A lot of investors are buying into the team. It doesn’t even matter so much what some of the other parts are. If you have a great team and a great board, that’s what they’re going to be paying attention to. So highlight those most important advisers or board members or management team members.
Next is your competition and your competitive advantage. I’ve heard more than once, “we don’t have any competition”. That’s never true. You have competition and get real about it. It may not be exactly what you do but there are other alternatives. Any alternative to what you’re doing is competition. And then explain why you have a competitive advantage over them.
Next is your development plans. So showing this is how it’s going to progress, a time line of what your expectations are.
And finally, follow up with your contact information. Don’t assume they know how to get in touch with you and don’t assume they’re going to make the decision right then and there. So having your contact information out there is very important.