Startup pitch decks: The three versions you’ll need to get funded

As a fundraising coach and investor deck consultant, I meet many frustrated entrepreneurs. By the time they come to me for help, many are exhausted from praying, spraying, and continually updating their decks. Often, they’re at their wit’s end trying to figure out why they’re not making any real progress.

I mentioned some common reasons why this happens in “First-time founders: Here’s why you’re not getting funded.” In that piece, I brought up the importance of knowing the investor courtship dance, which, unfortunately, many new entrepreneurs haven’t learned yet.

In this article, you’ll learn about the three versions of your deck that you’ll need to navigate the essential phases of courtship and get funded.

The decks you’ll need are as follows:

1. Full reading deck (also called a “standalone deck”)

I’m mentioning the full reading deck first because the other decks come out of it. This deck tells investors EVERYTHING they need to know to make an informed decision about your investability. 

A full reading deck is like a knowledgeable salesperson who anticipates questions and provides answers to build investor confidence. So, as you can imagine, this deck is comprehensive.

Bottom line: To persuade angel investors and VCs to view you as a safe bet, you’ll need a full reading deck—which is also the specialty of my consulting firm Pitch Genius.

2. Teaser deck

One of the most powerful decks in the fundraising toolkit, a teaser deck is designed to get investors interested in finding out more about your opportunity.

You’ll want this less comprehensive version of your pitch deck to inspire investors’ curiosity without overwhelming them. So, it’s important that your teaser is short and to the point.

For example, a teaser deck doesn’t need to include detailed financial information or many wordy slides. To make a comparison, if your full investor deck includes 25 slides, your teaser deck might only include 10-15.

3. Presentation deck 

Once an angel investor agrees to meet either in person or via Zoom, you’ll use your presentation or meeting deck. This deck must be very high level, low on text, and highly visual so that the investors don’t get distracted by the wording on the slides.

In addition, the presentation deck should support what you say in a visual way so the investor is listening to you versus reading your slides. And it absolutely needs to be well designed.

Now that I’ve told you about the three decks you need, I’m going to tell you the order in which to use them.

First, send investors your teaser deck.

This is the deck to send after you’ve received a positive response to your initial email and elevator pitch. Remember to keep your investor intro short and to only send your teaser deck if the investor shows interest.

In other words, once investors tell you they’d like to know more, use your teaser deck to encourage them to reach out to you for a meeting.

The caveat: If you’ve already had a conversation with them, you can go ahead and send your teaser deck with your warm follow-up email.

Next, show investors your presentation deck.

During the 20 valuable minutes you’ve scheduled for your in-person or Zoom meeting, you’ll use your presentation deck.

FYI, your pitch should only take about five to seven minutes, leaving plenty of time for a question-and-answer period. If you’ve done your homework, prepared well, and pitched successfully, investors will have many questions, and the meeting might go over the allotted time. 

This is a great sign!

Finally, send investors your full reading deck.

After pitching your opportunity and answering questions, you’ll want to send investors your full reading deck. This will allow you to further demonstrate your knowledge of the market and opportunity, reiterate everything presented during the meeting (and then some), and prove why the time to invest is now. 

Your full reading deck will also allow investors to share what they’ve learned from you with others, by email, who might also be interested in funding your venture.

To win at pitching, remember this:

You’ll need three different versions of your pitch deck to court investors with flair. A full reading deck, a teaser deck, and a presentation deck; each has a vital role to play and the order in which you use them is important.

First, after receiving a positive response to your elevator pitch email, send your teaser deck. Next, when making your pitch in person, use your highly visual presentation deck. Finally, after impressing investors with your pitch, send them your full reading deck. 

Using the right investor deck at the right time can significantly improve your chances of raising capital.

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