Making a pitch to investors is stressful. You have to condense your company into a short and memorable presentation. If you’re looking for capital, the stakes are even higher. You need to wow potential investors when creating a pitch deck and your business plan.
But when is the best time to make the pitch? Should you do it as soon as possible after meeting the investor, or wait until you have more information about your company? Before learning how to make a pitch deck, you need to think about some of the following issues.
The answers will help you understand when an investor would be most likely to invest in your company, as well as which information will give them that incentive. Continue reading for further guidance on when to create that crucial pitch deck so you can receive that money as soon as possible!
How to determine the right time to make a pitch deck
Before you make a pitch deck, you have to know what is a pitch deck and what you’re selling and to whom. That means you have to know your customers, your product, and the market it operates in. You need to know what’s unique about your product, how you plan to sell it, and how much it costs to produce.
You also need to know about your company’s finances. You should be able to estimate how much money your company will make and how much it will cost to run. To attain your goals, you should be aware of the amount of funding you will require from investors.
Additionally, you should know how much cash you need and where to get it. Once you know what you’re selling, you can decide when to make your pitch deck. A good time is when you have enough information to give investors a clear idea of what your company is, who it is for, and how it will make money. You also want to make sure you have enough time to get feedback on and revise your deck before presenting to investors.
That’s exactly when it’s time
If you’re looking for seed money or angel investment, it’s best to make the pitch right after meeting with the investor. The longer you wait, the less likely you are to get the funds quickly. Most investors like to invest as quickly as possible so they can see a return on their investment sooner rather than later.
That’s why you’ll usually hear back from them within a couple of weeks. Longer delays put you at risk of losing the investor’s interest and forcing you to find a new partner. Investors usually make their decisions quickly, so you want to give them as much information as possible at the first meeting.
Don’t leave any questions unanswered. If you do, the investor might assume the worst. For example, if you don’t know how much your product costs, they might assume you don’t know anything about manufacturing. They might also worry that you didn’t prepare for the meeting.
Prepare your pitch deck quickly
If you don’t have any other choice, you can hire experts who can provide you with the pitch deck design service and help to make a good impression on the investors. Be sure, they are professionals in this field and can transform your ideas into engaging visual content.
In such a way, you’ll show investors that you’re serious about seeking their money and that you’re not only able to act quickly but are extremely attentive to the importance of your presentation, which can make the future of your project. At the same time, they will see that you also have a clear idea of the actions you’ll do if financing is granted.
A quick but thorough preparation will give you an advantage over other entrepreneurs who are less prepared. How quickly should you build your pitch deck? That depends on how much information you have about your product and how much time you have before you make your presentation. The more information you have, the more details you can include in your presentation and the more convincing your presentation will be.
When it’s too late to create your company pitch deck?
Don’t wait for too long! It can demonstrate that you lack the knowledge necessary to produce a reliable pitch deck. An investor might not take your deck seriously if it doesn’t have accurate information. It also reveals that you’re not prepared to make a good decision.
Investors want to know that you are competent and that you share their passion for the business. You won’t get the funding you need unless you can convince them that you’re trustworthy and capable.
Additionally, you might not have enough time to ask for comments on your deck and make the necessary revisions. This makes investors think you’re not prepared. It also might make them doubt your ability to run the company.
Investors want to invest in people who can make good decisions quickly and pivot when necessary. If you don’t have enough time to make changes, it shows that you can’t make quick decisions.
Make a list of the information you know about your company. Include things like:
- Your company’s name, founder(s), product(s), customers, value proposition, unique selling proposition, and financials. You can create your list on paper or in a spreadsheet, whichever works best for you.
- Jot down some rough estimates. How much does your product cost to make? How much will it cost to market?
- What is the lifetime value of a customer? How much does it cost to acquire a customer? How much does it cost to run the company each month?
- Remember, you don’t need to have exact numbers yet. You’re just trying to get a general idea of how much money you will need for your company.
The importance of preparation cannot be overstated
The more prepared you are for your pitch deck, the more likely it is to succeed. It also gives you more time to make changes and improve your pitch deck. You can get feedback from friends, family, and other entrepreneurs.
You can also test your pitch deck on potential customers by having pitch deck examples. You have more time to revise your pitch deck and make changes before you present it to investors. That’s important because investors will ask you questions and request changes.
Additionally, you have time to investigate the audience you’re presenting to and formulate possible questions. Knowing what questions you’ll be asked and having good answers ready will make the experience go more smoothly. You’ll also be able to get the money you need to grow your company sooner rather than later.
To summarize everything, pitch decks are very important. Before you pitch your product, you must prepare them, and you will need to do this more than once. The more prepared you are, the better your pitch deck will be.