5 Tips for Startup Teams Creating a Pitch Deck

5 Tips for Startup Teams Creating a Pitch Deck

Building a pitch deck can be a major form of eustress. On the one hand, your pitch deck can be the key to scoring investment deals that help your business grow. On the other hand, putting a pitch deck together is no easy task. This isn’t the same as putting together a slide presentation at university: often, the future of your startup depends on it. Every slide needs to be carefully designed and well-thought.

You may have bootstrapped your way for quite a while, but eventually, you need outside help to take you to the next level. Pitch decks are the vehicles that help get you there. They help potential investors gain a high-level overview of what your startup is about and what you can offer. Here are five tips for successfully creating a pitch deck that works:

1) Communicate the Plan With Your Team

Creating a pitch deck involves multiple parts. Not only do you require input from everyone on your team, but you’ll may need to outsource some of the work, too. For instance, you need the help of a graphic designer to make your deck visually appealing; a CMO, bookkeeper, or account manager to help make sense of the numbers; a marketer who can convey data from market research; and a project manager to keep the pitch deck project flowing smoothly.

Depending on your unique situation, you may have many more people involved from other roles. Organize your milestones with a team calendar that ensure everyone is on the same page. You should also have regular meetings to communicate updates as the pitch deck is being designed.

2) Start With Your Elevator Pitch

Begin your presentation by stating clearly what your startup is and what it’s about. This should be no more than three sentences, and many startups achieve this in just one. For example, Botletter calls themselves the “Mailchimp for Messenger.” In just three words, you can already get an idea about what Botletter does and what their product can offer. This elevator pitch allows potential investors to hone in on the vision early on.

3) Emphasize the Market

Half of all small businesses will fail within a few years. Studies have shown that the biggest reason for failure is that there was no market need. Many startup founders fail to research their market before presenting, and before launching. Just because you’ve created a solution to a problem doesn’t necessarily mean there’s a market need for that solution. It’s your job to communicate the market need through your pitch deck. This should be backed by data. On the same token, you don’t want to overwhelm the potential investor with a lengthy list of numbers and charts. Highlight the most important information so as not to bombard listeners with statistics they won’t remember. During this time, you should also define your ideal customer and what their core needs are.

4) Don’t Forget the Essentials

Although you should emphasize the market need, there are also other must-haves that every pitch deck should include. This includes financial projections, your concept, competitive advantage, and competition. You should also talk about your founding team and how you plan to execute your branding strategy.

Because you want to stay relatively simple so as not to overwhelm any investors, it might help to reach out ahead of time and ask them if they’re interested in a specific area of your presentation more than others. For instance, if an investor says they’re more keen to understand your competition, you know that that’s an area you have to pay special attention to.

5) Research Other Pitch Decks

Research startups that went to on acquire funding, and analyze those pitch decks to see what made them stand out. Of course, there’s much more to securing investments than having a pretty and well-executed pitch deck, however, seeing other pitch decks can help you better understand what investors are looking for in a presentation—not to mention it could be a great morale booster.

Why Most Small Businesses Will Fail at Digital Transformation—But Not Yours

Why Most Small Businesses Will Fail at Digital Transformation—But Not Yours

In a recent survey of 1,267 CEOs, Vistage Research found 61% of these leaders plan to increase their technology spend in 2019 compared with last year, predominantly on business applications.

CEOs’ top four reasons for investing in technology:

Streamline operations (63%)

Improve employee productivity (54%)

Get ahead of competitors (41%)

Respond to customer demands (41%)

As these CEOs understand, technology can create a real competitive advantage. So why is it that many SMBs struggle to realize the full potential of their investments in technology?

It could be because 49% of them haven’t developed a digital-first technology strategy. For the 51% that have, it may be because they don’t know how to leverage that technology to meaningfully transform their businesses.

If you fit either one of those descriptions, here are some insights from our report on what you can do to change that.

Three steps to getting started with digital transformation

Step 1: Rethink analogue processes

Digital transformation is about more than buying technology. It’s about adopting a digital-first mindset—saying goodbye to analogue, human-optimized workflows and designing new ones around the capabilities built into systems and applications.

How could you reimagine interactions with your customers to create better brand experiences? Where could you automate repetitive processes or mundane tasks to improve accuracy or give employees more freedom to create, connect and collaborate? Tackle questions like these in small groups, with the people involved, and you may be surprised at the solutions that emerge.

Step 2: Revisit system integration

The process of selecting, integrating and implementing technology is challenging. Almost half of CEOs (47%) rely on external IT consultants or contractors to support the multitude of decisions they face.

All your systems and applications—from CRM to ERP to billing—need to be seamlessly integrated so they can provide a single view of your operations, people, customers and finances. Only then can digital transformation really take shape.

Step 3: Realize a change-management strategy

It’s natural for people to resist change, especially when it could threaten or expose how they work. Make it easier for your employees to adapt to new data or workflow systems by developing a change-management strategy based on these eight tenets:

Seek alignment among senior executives. This helps coordinate communications about changes so employees can understand and embrace the new system.

Set clear standards and expectations. Defining expectations from day one helps everyone feel informed and accountable.

Outline milestones and metrics. Create a roadmap that clearly defines dates, utilization assessments and business metrics.

Develop a buy-in strategy. This encourages key stakeholders and cultural leaders to become ambassadors for the broader organization.

Establish a marketing-communications strategy. Every project phase should have its own overarching message of strategic value.

Train your employees. Provide professional development for every employee to advance their competencies and skills. As best practices emerge, share them.

Reach for quick wins. Establish a sense of momentum by making these visible and continually sharing progress towards the end goal.

Recognize key employees. Doing this along the journey reinforces desired behaviors and helps unlock buy-in beyond management.

While these tried-and-tested steps will get you off to a great start, true transformation is never easy. But with a long-term perspective and the right mindset, you’ll stand the best chance of success.

5 truths about digital transformation

Get used to this pace: Technological advancements will only get faster. Blockchain, artificial intelligence and 5G networks are already ushering in the next seismic wave of change. While you’ll always be under pressure to keep up, a clear strategy will help you to direct your investments well.

Expect to spend: It’s not a good idea to short-change investments on business-critical infrastructure, applications and IT talent. Accept the fact that quality technology comes with a cost—the alternative is automating chaos.

Transformation will be hard: IT projects will usually take longer, cost more and be harder to complete than you think. The shift to digital-first thinking and transforming ingrained processes will test you, your team and your employees in unexpected ways.

IT carries risk: Using data to better manage your customers, employees, operations and financials does come with risks. Cybercriminals are working relentlessly to exploit vulnerabilities in your digital security. A digital business is all about your data, so protect it as vigilantly as your cash and investments.

It’s still about people: Technology can do amazing things. But it’s only powerful when it equips leaders and managers to make better decisions, enables workers to be more productive, and facilitates deeper connections with your customers. These are the things that propel a digital-first company into the future.