The 3 Types of Pitch Decks You Should Always Have, According to Fundraising Strategist Gira Wieczorek
Pitch decks are an essential tool for any startup looking to raise capital. But entrepreneurs often take a one size fits all approach to crafting their decks. Labs mentor Gira Weiczorek, founder of Aleberry, a startup that helps entrepreneurs craft their fundraising strategies, held a session to discuss the three types of pitch decks every startup should have for different situations.
Pitch deck #1: Flash deck
Sometimes you may only have a few minutes to go through your pitch, but that doesn’t mean that your pitch should be any less effective and persuasive. For situations like these, you should always have a flash pitch deck handy. “Your flash deck is essentially for demo days and can be presented to both accredited or non-accredited investors. They’re for situations where you have anywhere from four to eight minutes to be up on stage, quickly running through selling your bigger idea of your company and attempts to garner interest,” Wieczorek says.
The purpose of these flash decks isn’t to explain every aspect of your startup. “You’re not covering all the details of your financial projections or customer acquisition. You don’t have time to dive into the nitty-gritty details,” Wieczorek says. Instead, your goal is to try to tease the investment opportunity. “When you present this deck you're going to get the point across that, we've proven we can make money, here's what it looks like. Let us know if you want to talk to us afterward,” Wieczorek says. You’ll want to still include your problem, solution, and personal story, but topics like revenue projection should be excluded.
Pitch deck #2: Investor deck
Your investor deck should contain points that appeal to those looking for more information about your startup. “In this deck, you’re going to talk about what your risk mitigation is, what your IP is, and more top-level metrics,” Wieczorek says.
This deck should closely resemble your flash deck but with much more detail. Assume that you’re creating this deck for an investor meeting, so you’ll have plenty of time to go over specifics. Highlight your personal story, revenue projections, clients, problem, and solution. “We always say that your problem and solution slide should mesh well,” Wieczorek says. “So if you have three problems that you’re trying to address, you should also have three solutions.”
Be mindful of your audience when you’re deciding how much information to add to this deck. “If you're pitching to industry experts, you probably don't need to dive into a bunch of terminologies,” Wieczorek says. “However, if you're presenting to non-experts, you're going to need a slide that explains how your product works and how it benefits the people using it.”
Pitch deck #3: Technical deck
Out of the three decks, the technical deck will be the most audience and situation-specific.
These decks are product-focused and are presented to more industry-specific audiences such as IT departments, web developers, or a major corporation you want to have as a pilot customer. “For example, if you're selling a SaaS solution for a hospital, you're going be talking to IT folks to see how it can be implemented, so you need to go into more detail,” Wieczorek says. If you’re a B2C startup, use this deck to highlight any enterprise solutions you may have. “Your technical deck doesn't need to intricately designed,” Wieczorek says, “but it should be an extended look at how your product works.”
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This post is based on content from a WeWork Labs programming session.
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