In the world of business, an entrepreneur’s pitch deck captures the pulse and essence of the business. Known to be a very effective tool in terms of attracting potential investors, one’s pitch deck must be made with utmost creativity and style.
Given that the deck gives a quick overview of your business plan through a quick glance, it is utmost important to make sure that all your ideas are presented coherently and in a succinct manner.
Let’s take a look at the key elements that you should include in your pitch deck.
- Problem – Find a hole in the existing market where you plan to build your business. Show them how you can fill that hole in with your ideas and execution, eventually leading you to solve the problem. It does not have to solve a massive problem where the solution will change the world. Problems can also be simple. As an entrepreneur, if the focus is on solving a problem that a large addressable market faces, then you can definitely build your business.
- Solution – A clear problem statement will help you focus your solution on solving the problem that you have specified in number 1. Remember not to stretch the solution to solve “multiple potential problems.” Doing so might increase your chances of creating problems that aren’t even present in the first place. This will definitely give way to a lot more questions from your audience and might eventually become troublesome to answer.
- Offering – Describe your product or service in the best way possible. Give them the backstory of its creation – provide them with the how, what, when and where. Don’t forget to highlight its best features too and all the advantages that it presents. You could use graphs, flowcharts and pictures to describe the exact product or its service package.
- Target Market and Size- Present demographics and other data related to the audience that you have chosen to cater your products and services for. Explain clearly why you have targeted this specific type of people as your market. It is essential to showcase that the market you aim to capture is large, thereby making your business a scalable one.
- Competition – Rivalry is a natural part of the game. All that you need to do is to outsmart them. Remember that even if there is no direct competition, business with a similar purpose or based on a similar concept should be listed down irrespective of their location, size and popularity. It is essential to highlight what differentiates your business from the competition.
- Team – Due to different work methods and clashing personalities, a team can either make or break your business. It is important to understand the gaps in your management team and solve it. Also, you need to hire the right people for the job based on their experiences and qualifications to ensure maximum efficiency. The key team members add credibility to your execution skills.
- Marketing or Sales Plan – Roll out all your strategies to gain more customers. Include the media (both print and digital) and other brand associations.
- Financial Summary – Give them your 3 years’ financial projections. Place the costing, pricing, revenue and profit on a spreadsheet to ensure transparency and clarity.
- Milestones – List your upcoming goals and when you plan to achieve them. This includes your future plans and everything about getting there.
- Funding – Last and most important, tell the audience how much you’re looking to raise and it’s utilization plan. They need to know where their money is going!
A pitch deck quickly wraps up all of your business ideas. If created and presented uniquely, this pitch deck can help you expedite the fundraising process to keep your business going.