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When we hear the term “pitch deck”, we usually think of what can be considered a general or main deck, a presentation used to pitch investors. However, there are pitch deck variations, depending on where you post them, how you share them, and what use you give to them.
We will cover the differences between common pitch deck formats with examples, in order to give you a better idea not only of which versions to create, but also when to use which in the most appropriate, safe and useful manner.
We believe the answer is yes. The reason for creating different pitch deck versions is that each one should serve a different purpose. What is aimed at attracting attention briefly and very publicly is not necessarily applicable to what finalizes a funding round.
We will start by the shortest version, the pitch deck teaser. In this one, you can share your startup’s basics with virtually anyone you wish: from impressing your young nephew to even posting it on social media. We have a 3-minute pitch deck template you can use as a reference.
What the teaser includes as slides are quicker definitions of your problem, solution and market slides. It also includes a quick recap of your team, as well as your startup’s trajectory to date. That is to say, a teaser will not fit in your detailed financials or confidential information. It is just a very quick overview of your company.
Bear in mind pitch deck teasers are aimed at being read by themselves. Anyone looking at your teaser should be able to grasp it fully without you presenting it to them, and they should be able to cover it in a quick 1-2 minute read.
This short version can work for audiences such as the media or overall people that are unfamiliar with the scope of your business.
Other scenarios, such as the request from an investor, require you to have the main pitch deck ready. They usually want to get to know a bit more about your company than what’s on a teaser.
However, there is more to this request. Investors will actually look to build an impression about your business based on the main deck you send. There is so much information on pitch decks about the way you do business that there is more to the main deck than we tend to accept.
This is where adhering to known ideals for creating a pitch deck pays off. If you do your homework, you will find many ideas of what sections an effective pitch deck includes.
The reason why you need to have the main deck separate from other pitch deck formats is precisely to show on these occasions that you are professional and serious about a great business opportunity. Consider this a committed business card for VCs, to some degree; a deck that will get funding conversations going.
There will be a point in time when more and more information about your business will naturally need to be shared, and this fuller format of a pitch deck should help you achieve just that as your funding round talks start getting more and more serious.
Prep for them by making a fuller pitch deck version, business model details inclusive, before you enter the funding round scene. Doing so will spare considerable and much-needed sleeping hours.
We recommend sharing the pitch deck only with investors that are truly serious about doing business with you. Make sure you don’t give away too much of your private company information to someone who’s just playing around and making you waste your time. There are unfortunately plenty of people out there who act as the VC, but they just don’t have the means or background to be one.
To tell a reputable investor apart from one that’s not, can be challenging, but let the amount of interest in your business become clear through the frequency of email exchange and meeting needs.
At the end of the day, being able to tell this difference will be part of your business knowledge, but the piece of advice we can give you now is to keep an eye out for those set out to make you waste your time and never really truly finalize any sort of an investment round. Some of these so-called “entrepreneurs” are at times just trying to get their learning ground in, as well.
For investors with a good reputation, on the other hand, (and we hope you make sure to do as much research about those people interested in your business as any serious entrepreneur will look you up) sharing your deck as funding round conversations move forward should not be a problem.
Slidebean has cool sharing and collaboration features for your presentations, which will let you keep track of their performance. If you need more help creating your pitch deck, click below!