How to Turn a Business Plan Into a Great Pitch Deck?
Any young company needs a business plan to form basic goals, business strategy, development scenarios, and capture new market sectors. In other words, entrepreneurs should become warlords, at least for a while, and plan their military campaigns. But the problem is that classic business plans allow you to see only one side of the coin. How about non-standard approaches to check the whole picture? Perhaps you need a deck business plan to identify key points for developing your startup quickly. But where do beginners start? Here are the key aspects that will be useful to you.
A Business Plan
A business plan is an essential written document that provides a description and overview of your company's future. As a rule, any plan has a classical structure with goals, prospects, and ways to achieve certain commercial goals. Not so long ago, a business plan was the only effective tool for attracting investors.
A Pitch Deck
A pitch deck is a presentation deck used to pitch your idea or company to any number of audiences, generally investors. The main purpose of your presentation is to attract the attention of people ready to give you money to boost your business. With slides and visuals, you can show your company's growth prospects and the return on your initial investment.
How to Prepare a Pitch Deck: Steps to Follow
At this stage, many young entrepreneurs start to panic. But you should not repeat their emotional patterns. Here are the key components of any business plan deck. Start from the very beginning, and you are unlikely to get confused in the sections.
1. Problem
All business plans and pitch decks should include an issue, as you should be discussing the obstacles to your business. Identify the problem that is the key and indicates how you are going to solve it. Use charts, competitor analogies, or your unique perspective. In any case, you should show the easiest way to deal with temporary difficulties.
2. Current Solutions
Give a short rundown of how this problem is being solved currently. But any pitch deck is different from the business plan, so a couple of lines is not enough. Instead, try to visualize how to solve the problem and offer a clear step-by-step guide to implement your idea. And illustrate your thoughts with images and infographics that will help your partners or investors understand your way of thinking.
3. Your Solution
And here is the place for a global solution. So this is your chance to introduce your product/service and its story. Focus on the direct pitch deck vs business plan comparison. You must show how your business will solve certain problems and what tools you use to dominate the market. Don't forget that you must offer the most effective solution, so choose good content for your slides. You can even create videos showcasing industry-changing products or services. Such visualization of ideas will be much better than a classic business plan.
4. Underlying Magic/Technology
No one can craft the perfect pitch deck business plan without demonstrating how to meet customer needs. So what's the "secret sauce"? First, go into your main selling point and show what makes your product or service special. Include a demo if you can, as this will allow you to visualize your company's competitive advantage.
5. Business Model
Any business plan pitch is incomplete without your key revenue streams. So this is where you identify your target market and show off your numbers – pricing, revenues, conversion rates, etc. Next, add infographics that show your business model and growth prospects. Surely your investors will like the illustration of growth rates or financial forecasts depending on the amount of funding.
6. Marketing and Sales
Go into your marketing strategy. How do you plan to expand your customer base? Have you determined your targeted growth rate, and what are the principles for implementing your strategy? All these questions are extremely important, given that a business plan is a springboard for finding additional funding. Many investors will agree to your terms if you have a pitch deck with a solid offer.
7. Competition
Where do you stand in the overall market space? Describe all competitors in your business sector and explain why you are different. You can even check some kool visuals to order for the pitch deck slides to set the stage for attracting investors. But do not forget that people with money always need direct answers. Be direct and honest. How are you going to attract customers? Are you going to offer the best product or service on the market? Will you use a personal brand, aggressive marketing, dumping, or commercial tricks? Answer all these questions, and your pitch deck will be perfect.
8. Team
A good team is a foundation for any company. Introduce the other people on the project with you and their key roles. Show off their credentials and relevant experience. Create slides with photos or video demonstrations of each employee. And you should also focus on the importance of people in your project. Any investor will be interested in your ideas if you show that your team can be trusted.
9. Projections and Milestones
Explain your financial projections, as well as your current milestones. Highlight some press mentions, partnerships, and other accolades. Such details are important as they show the essence of your business and future commercial goals. Don't forget that you should add honest information as you are about to raise additional funding. Finally, list all projections and milestones that are critical to your company.
10. Status and Timeline
What is the timeline of your project, and where are you at the moment? How long will it take to reach your goals, and what do you need to succeed? Describe your current position in the market to find key boosting ideas. Also, don't forget to include at least an approximate timeline relevant to your project. The fact is that investors always want to know when their money and risks are converted into profit.
11. Summary and Call to Action
It's time for the final part of your pitch deck. Briefly focus on your business's key nuances and perspectives and form a call to action. Perhaps you should use statistics to motivate investors or focus on the benefits that will become a springboard for economic growth. In any case, you need to interest potential investors by showing them the company's growth prospects.
What to Do in the Meeting
Venture capital firms and angel investors need at least solid ideas and methods by which you will go towards your intended goal. Try to visualize the value of your business shortly and the prospects that await investors if they join your project. Give them a clear picture and at least an approximate growth rate for your business.
Create your slides from the position of someone who plans a business and knows where to go. If your project is interesting, then you will receive financial support. But investors will want to see something original so think about how you stand out from the crowd.
