And the winner is….Uber’s perfect pitch deck!

The Pitch Deck is everything- here’s why

So, do you have a wonderful idea for a startup? Great! You might be the next Mark Zuckerberg, Steve Jobs, Bill Gates, or Elon Musk. Why not? A small, brilliant idea can change the world.

But every entrepreneur who has worked on an idea and translated it into a big venture knows that idea alone is not enough. You must successfully execute and raise lots of capital to set the wheels in motion.

In 2022, raising capital for a business may not be as daunting a task as it used to be, as venture capitalists and angel investors are often on the look for the next big idea.

There are millions of dollars out in the market waiting to invest in the next big idea to multiply that amount into billions. The only difficulty is to convince an investor that you are The Next Big Idea.

So how do you convince them?

You tell your story with the help of a pitch deck. In a sense a Pitch Deck is the soul of your Business Plan, or to put it in simple words — it is the HOOK with which you can draw the investors to back your idea and the concept.

In this blog, we take a look at an idea that transformed the Transportation and Travel Industry and learn from the?First Pitch Deck of the makers of the ride-sharing revolution — UBER.

Uber: Changing how the world hails a taxi

In 2022, it’s hard to imagine a world without Uber. Go to any big city around the globe, and yet the convenience of an Uber ride reigns superior above taxis and public transport. However, nearly 14 years back, when Uber was known as “UberCab”, things were a little different.

It was the time when co-founder?Garret Camp?was preparing his first Pitch Deck, which later went on to raise a $200k investment, that helped Uber Cab get started and grow into the idea it is today: A market dominator with an annual turnover of over $25.9 billion in 2021.

Talking about Garrett Camp is a Canadian billionaire businessman who was born on October 4, 1978. He has contributed to the creation of a number of businesses, including the startup studio Expa and the web discovery engine StumbleUpon. He was also a co-founder of Uber. The camp sat on the board of directors of Uber until 2020 and is the chairman of Mix, the company that will replace StumbleUpon.

So for the next few minutes, let’s dive into the original pitch deck of Uber and?learn the lessons?for startups looking to emulate similar success.

Uber hits jackpot with its pitch deck!

Uber’s presentation shows how start-ups can sometimes evolve at an unprecedented rate. In the original pitch deck, UberCab was described as a service that would buy its cars and employ drivers. The core idea of the Pitch Deck showed how the?unstructured taxi industry?could be fixed with a simple mobile application.

We know, you love your business idea and want to share it with the world. However, resist the need to fill your pitch deck with extraneous information and divulge every piece of knowledge you possess.

You must do all in your power to keep the audience interested when making a proposal. No matter how great your ideas are, if they lose interest, you’ll probably lose your chance to get money.

In fact, build your deck, cut it short, walk away and then cut it short once more!

A great example of this is Uber. Look at their concise, to-the-point deck, which has only the details you need to know and the service’s selling points. Even the design is very minimalistic.

There’s no denying that Uber has evolved in ways that their original pitch did not anticipate: whereas they first promised a fleet of “luxury” automobiles, some of their most popular vehicles now include the Toyota Prius, Honda Civic, and Toyota Camry!

Three simple images were included by Uber on the first page of their presentation:

A black Mercedes Benz with an iPhone and a Blackberry on either side.

Garett had subtly highlighted the initial aim behind the creation of Uber by using the pictures of the Blackberry and the iPhone, which was to create a luxury cab brand targeted at the working-class or business professionals.

In order to express the notion about what the service was aiming to be and to give possible investors an idea of what would follow in the next slides, this was made more obvious with the slogan?“Next-Generation Car Service”?mentioned just below the graphic.

Starting with a bang: Addressing the Problem

Uber begins by addressing the investor’s need; which is “What’s wrong with the current scenario?” (The problem). Uber justifies their business model and offers itself as a viable alternative by outlining how expensive and ineffective the taxi system is.

Uber outlined the issues with the taxi industry in 2008 in their second and third slides.

It’s important to concentrate on how a product or service can enhance the customer’s situation while you’re trying to sell it. While most salespeople place a premium on having extensive product expertise, most buyers prefer a sales pitch that recognizes problems and offers answers, according to an interesting?2012 study by University of Memphis Professor John Cicala.

Slides two and three of Uber’s pitch deck accomplish just that by criticizing traditional taxi services’ “aging and inefficient technology,” which lacks GPS coordination between customers and drivers and uses an antiquated medallion system that results in underpaid drivers and subpar service. Prior to offering a solution, this strategy emphasizes the inefficiencies of the current system and pinpoints the main problems that affect both drivers and passengers.

The Problem (Customers)

The second slide in the Uber pitch deck aids in identifying the market’s current issues and offers a comprehensive perspective of the particular pain points experienced by prospects. First off, it was very difficult to predict whether cabs would be available when someone needed to travel from point A to point B.

The Problem (Drivers)

In the third slide from the Uber pitch deck, a pre-Uber scenario is discussed from the perspective of the driver. First, medallions were exorbitantly priced, and second, cabbies were never compensated for the extra hours they put in. Additionally, their income was never steady.

Uber making its mark - Providing a solution with clear benefits

By the third slide, Uber had already grabbed the attention of potential investors, who were now eager to learn about the answers to these issues!

By the third slide, Uber had already grabbed the attention of potential investors, who were now eager to learn about the answers to these issues!

A value proposition is a pledge of value that will be fulfilled, shared, and recognized. Your brand’s value proposition may be its most crucial component.

Therefore, be sure to ask yourself, “What is my firm providing for my ideal user or customer?”

Here, user research can be very beneficial in order to identify the problems that your customers are currently trying to solve and their pain points. In this manner, it will be simpler for you to pinpoint exactly what your business can offer.

In the case of Uber, their value proposition is described on the first few slides of their presentation:

The Uber app filled the void that has existed for a very long time. an app for hailing cabs with one click. User-friendly and pleasant for drivers. The Uber pitch deck provides a straightforward explanation of the idea. The following slide in the Uber pitch deck also discusses the USP of the business.

Back then, the proposed solution was more centered around promoting a deluxe, chauffeur-like experience combined with the convenience of an on-demand cab. Although this idea was later changed to apply to all consumers, at the time it was unheard of and hence seemed intriguing to possible investors.

After determining the client’s unique issue, you must offer a solution with obvious advantages. In order to do this, Uber emphasizes the quickness and effectiveness of its on-demand automobile service, which includes a guaranteed pickup and a pre-paid cashless billing system.

Be creative and come up with use cases that have a narrative. Consider circumstances in which your product would be useful in the real world. For instance, Uber uses the example of “rapid local transportation where parking isn’t simple” to help clients understand its service as a solution to a problem they are familiar with.

The Foolproof Formula: Key differentiator & establishing rapport

Try to recall how much more difficult hailing a cab was in 2008 as we go back in time to review Uber’s initial pitch deck today, in 2022. However, Uber was able to build a relationship with its investors; thanks to the basic manner in which the issues of the real world at the time were presented.

Therefore, in the following few pages of their PowerPoint, Uber revealed its key differentiators, hooking the possible investors who were now eager to learn how it planned to disrupt the taxi sector.

The company’s creator marketed Uber as “an innovative, rapid, and efficient on-demand automobile service,” with a focus on American businessmen in major cities like San Francisco and New York. In their pitch, they explained how the service would reduce wait times and reward drivers in order to address some of the issues raised before.

It is crucial to remember that when?pitching a concept?for a business in order to gain funding, it is always advisable to include the key facts that clearly set your product apart from the competition.

This is because comparisons allow your audience to skim your proposal and gain a quick understanding of your idea and how you position your brand, as compared to other competitors in the same niche.

Purpose and Perks: The Environmental Impact

In slide 12, the founders of Uber highlight how it will have a positive impact on the environment. They said that because drivers wouldn’t need to waste time looking for fares, vehicle resources would be used more effectively. The opportunity to carpool with other passengers and the usage of hybrid vehicles, which are more energy-efficient, is also mentioned in the presentation.

All of this information becomes useful to add to a pitch deck since many potential investors are interested in learning about the possible environmental impact of your company. Environmental concern has undoubtedly increased since 2009, making environmental effect information more crucial than ever.

Many individuals will give you this piece of advice that you need to connect emotionally with your startup and potential investors. And I totally agree!

Uber accomplishes this in a simple but effective manner by highlighting the crucial customer, driver, and environmental benefits that set the firm apart and making an investment in them a chance not to be missed.

Outlining the potential outcomes

Yet again, the goal of your pitch is to persuade potential backers that investing in your company is a risk that is well worth taking. When Uber outlines the “best” and “worst” case possibilities for their business, we believe they do this effectively. Your goal is to demonstrate that, even in the worst-case situation, investors won’t suffer a significant loss. Make them feel at ease!

The company’s business model’s potential outcomes are listed on the 20th slide of Uber’s pitch deck. The company’s market leadership and yearly sales of $1 billion or more were the founders’ best-case projections. The worst-case scenario was that the business wouldn’t succeed in going beyond San Francisco and would continue to operate as a niche, upscale transportation service for businessmen in the area.

This is a crucial slide for investors to see since it provides them with some plausible outcomes that they can consider when deciding whether to support the firm.

Uber now generates more than $14 billion in revenue annually, yes it took them until?2015?to begin making more than $1 billion. It is safe to conclude that their ideal situation ultimately materialized.

In Conclusion

We can see the psychological ploys utilized to present the first idea by analyzing Uber’s first pitch deck. Their presentations begin by responding to the most crucial query presented by potential investors: “What is the issue with the current system, and how does the suggested remedy address it? Understanding the ideal client, or creating a brand by placing oneself in the client’s position, will provide the solution. In other words, Uber identified its target demographic when it first started to develop a low-cost limo service. They crafted a compelling narrative about the issue and the reasons why Uber was the best solution at the moment using demography.

These elements all work together to create an incredible pitch deck that ultimately paved the way for their success. We could all take a leaf out of their book.

Here are some amazing?pitch deck templates?offering a pretty good bang for your buck. Feel free to send your pitch deck to us at?[email protected]?and we’ll provide you with an in-depth analysis, advice, and strategy recommendations on the same.