How can you optimize the length of your VC pitch deck?

A pitch deck is an invitation to have an investment discussions or DD in the deal flow. A pitch deck is not a data room or a detailed strategy or any kind. For example, don’t show the GTM strategy details. A pitch deck should enable the audience to re-tell the story. Help me summarize into 3 things that I should share at a happy hour with fellow investors.

A key aspect to consider is that a deck does not raise money - great founders building great businesses raise money. One of the key questions to ask is whether a deck is made for reading (alone by a recipient) or just to support a discussion. Most fundraising decks are decks that will be read without a founder being present - therefore they need to be more self explanatory and straightforward to digest than a presentation deck - they also typically are somewhat more wordy. I would always try to avoid that an investor reads my deck before I get to be in front of them - however, in many cases it cannot be avoided.

At best, investors spend an average of ~2 minutes reviewing any given deck. Less is more. Be concise. Visuals stand out. Your ability to story tell is what sets you apart from all the rest. When you execute that, you're guaranteed to get more Yes's than No's.

Instead of 'know your goal' embrace 'know your investor' - study individuals, communities, and firms like them and understand the things they know, the things they don't know, and where your startup has true value. Be exceptional by not boring them to death in the first two minutes. Understand that your goal is to connect with them, qualify investor interest, extend relationship credits to other vetted investors, and strengthen a relationship. Your first interaction in the pitch deck needs to considerate of the nature of the audience, a trusted friend, a casual introduction, a previous coworker, an absolute stranger, or a competitive spy? Aligning the right deck to the right investor persona is critical.

I've said it before and I'll say it again: Shorter is better than longer. The question in itself here implies that it might be good to have a "long" pitch deck, which is misleading as investors typically appreciate founders who can clearly state a problem-solution with as little information as possible.

Based on the statistics from the DocSend 22-23 Seed report, it is highly advisable to keep your pitch deck concise, ideally between 10-15 slides. The report reveals that in 2023, 32% of successful fundraising teams had decks shorter than 15 slides. In contrast, 90% of teams that didn’t secure funding had lengthier decks. Moreover, VCs were found to spend 27% less time reviewing decks in 2023 compared to the previous year, often disengaging quickly from decks that failed to resonate, with average review times dropping to under 2 minutes. In a nutshell, a succinct and well-structured deck is crucial to maintaining investor engagement.

The most important thing is to understand who you are pitching and tailor your deck to fit. Generally a VC has a limited window of time for a first meet - this is a bring out the essentials and the hardest hitting points meeting. What are you solving? What is its important? What market dynamics are you leveraging? How big is the opportunity? What are your proposed step-functions for achievement? Why are you the best qualified team to tackle this endeavor? What do you need now and propose needing in the future. Leave long form diligence answers for an in-person or follow on meeting. If you can't simply explain the above then you lose control of the narrative - especially in convincing them you are the right team to succeed.

Creating a compelling VC pitch deck requires finesse. Enter the 10/20/30 rule: Limit your deck to 10 slides, keep your pitch under 20 minutes, and use a minimum font size of 30 points. This isn't arbitrary; it's about respect. Respect for your audience's time and cognitive bandwidth. It's about delivering a concise, readable, and impactful message. While flexibility is key, this rule offers a powerful framework to make your pitch shine.

Aim for simplicity in your pitch deck. Just 10-15 slides that make us nod in agreement, understanding each point without getting lost in the weeds. Remember, the goal is to elicit a "yes, this is interesting" from investors, not to delve into the minutiae. Use established deck templates. A classic, clear structure is universally understood by investors. Avoid chasing trends in your story; we are looking for substance, not buzzwords.

The 10/20/30 rule is not one-size-fits-all. Different geographies prefer different styles; for instance, European LPs may favor more detailed pitch decks compared to the concise format often preferred by US-based LPs. Tailor your approach to your audience's preferences.

Many founders lack an extraordinary track record to showcase. A founder could spend five years working in a tech giant, where they are just 1/100 in their team, 1/10,000 in their company, and 1/100,000 in the vast talent pool of the market. Paradoxically, having a high-profile employment background may hinder your credibility. Your work to one function may narrow your overall business experience and prevent you from being a well-rounded entrepreneur. When sharing your story, consider reflecting on the journey that brought you to this point. What were your sources of inspiration? Can you provide validations for your ideas or accomplishments? Additionally, how have your past experiences shaped you into a viable and fundable entrepreneur?

Tell a story. When you do so, you'll notice that it won't be that long. If you're talking to a friend about some event, you won't talk for hours. You'll get to the point. Do the same.

Begin by introducing your team, then dive into the problem and your innovative solution. Showcase your traction and competitive edge to build excitement. As you delve into your business model and go-to-market strategy, the story unfolds. Finally, wrap it up with your ask and exit strategy. This approach will help you craft a memorable and persuasive pitch deck.

While a narrative arc can make a pitch deck engaging, it's not essential. Focus on clearly presenting your track record, strategy, and key information without over-complicating it with a story-like structure. Keep it straightforward and to the point.

Unleashing the narrative arc in your VC pitch deck is like adding a touch of magic. Structure your pitch as a story: introduce yourself and the team (exposition), highlight the problem and your solution (rising action), showcase traction and competitive edge (climax), outline the business model and go-to-market strategy (falling action), and wrap up with your ask and exit potential (resolution). It's not just about information; it's about crafting a compelling, memorable tale. This storytelling technique engages your audience, making your pitch not just informative but persuasive. Give your pitch the power of a story, and watch it resonate! ????

The power duo of being visual and concise can work wonders for your VC pitch deck. Swap out the heavy text for images, graphs, charts, icons, and logos – visuals that speak louder than words. It's not just about pretty slides; visuals make your message pop, grab attention, and lighten the cognitive load for your audience. But, like any good thing, moderation is key – avoid overloading with complex visuals that might distract. Also, keep your language simple and concise. Ditch the jargon and technical terms; go for clarity over confusion. Make your pitch deck a visual feast and a quick, digestible read. It's not just about slides; it's about creating a visual story that sticks. ????

Graphics and design are crucial for your pitch deck, as they make the first impression on your audience. Use visuals effectively to convey your message, but ensure they're clear and not overwhelming. Simple, concise language aids understanding and engagement.

To optimize your VC pitch deck, embrace visuals and conciseness. Use clear, engaging graphics to illustrate key points, like market size or growth trajectory. Charts, diagrams, and images can convey complex information quickly and effectively. Keep text minimal and to-the-point; each slide should communicate one main idea clearly. This approach captures attention and makes your message more memorable, ensuring your deck stands out. Remember, in the world of VC, a picture can indeed be worth a thousand words.

I typically recommend that startup founders have 2 decks. One that is 10-15 slides that can be sent in advance of an initial pitch meeting and then a longer form deck 20-30 slides (majority of which are appendix items) that can be referenced during a pitch meeting and sent after a good investor meeting.

The key to crafting your pitch is to ensure that each slide nudges the reader towards an emphatic 'YES'. Your message should be crystal clear and easy for investors to understand and agree with. The easier it is to understand, the easier it is to say yes. Stay away from strong statements or anything that might cause conflict or cognitive dissonance. Your slides shouldn't leave room for doubt or require lengthy explanations. If a slide raises questions you'd rather not answer, it's a sign to revise. Your goal? A seamless flow that matches the reader's understanding and expectations, leaving no room for hesitation.

Tailor your pitch deck to suit different cultures. A deck designed for German LPs may not be appropriate for a Japanese audience. Adapt your presentation to the cultural context for better engagement.

Make sure all the information in your pitch deck is okay to share. For example, if you are using logos from corporates or advisors, I'd recommend checking in with them first before using. The VC ecosystem is a somewhat close-knit circle.

When pitching to investor, you must navigate the fine line between their fear and greed. On one hand, alleviate their fear by clearly outlining the risk mitigation strategies, market validation, and your team's capability to execute the plan. Showcase your understanding of the market, competitive landscape, and potential pitfalls, alongside robust financial projections and evidence of traction. On the other hand, you appeal to their greed by highlighting the unique value proposition of your venture, the scalability of your business model, and the potential for substantial returns on investment. This dual approach ensures they see a well-thought-out opportunity that not only is safe but also promises significant growth and profitability.